It's a whole new ballgame after Huawei arrest

Postado Dezembro 06, 2018

The seeking the extradition of Wanzhou Meng, chief financial officer of Huawei Technologies Co., after convincing Canada to arrest her on December 1, likely in connection with violating sanctions against Iran.

CFO Meng Wanzhou was arrested in Canada in an extradition deal with the United States on suspicion of breaching U.S. sanctions on Iran as well as cyber espionage.

She was detained by the Canadian authorities in Vancouver on Dec 1 while in transit and is facing an extradition request from the United States.

A Huawei spokesperson said Meng faces unspecified charges in the Eastern District of NY.

The US Justice Department on Wednesday declined to comment.

China is demanding that Canada release a Huawei Technologies executive arrested for possible extradition to the United States.

Suspicions over Huawei's links to the Chinese government have made the company a target for suspicion and the USA has led the charge to ban its products and services. Ren is a former Chinese military official who founded the company more than 30 years ago. It has overtaken Sweden's Ericsson and Finland's Nokia to be the world's largest telecoms equipment maker by revenue. The report did not say what Huawei might be suspected of. It receives preferential treatment and is heavily subsidized by the Chinese government while purchasing technology from USA companies like Qualcomm. It appears that the arrest is likely in connection to an ongoing U.S. investigation into Huawei allegedly violating global sanctions against Iran and North Korea.

Smartphones have become another key business in recent years, pitting it against Apple Inc and Samsung Electronics in the highly competitive market.

He has since been proved right with revenue projected to hit 655.9 billion yuan (US$102.2 billion) this year, a jump of 9.3% compared to 2017. "This headline is quite significant as the US government is attempting to persuade allies to stop using Huawei equipment due to security fears, and this headline could weigh negatively on tech stocks", said Stephen Innes, head of trading at Oanda in Singapore. Huawei has since been blocked from selling its gear in Australia and New Zealand, got frozen out of a Korean contract, and faces US -led competition even in Papua New Guinea.

The probation violation cited by the judge involves the same conduct the U.S. Department of Commerce penalized in April by imposing a ban on U.S. companies selling goods to ZTE.

Huawei, for its part, has denied sharing information with the Chinese government, as has ZTE.

The arrest of a Chinese telecom executive in Vancouver is renewing fears of the communist government's ties to the cellular network giant.

Other countries, such as Australia and New Zealand, have also followed the case.

Nevertheless, Huawei is allowed to operate in Canada and in a September interview with the Globe and Mail, Scott Jones, head of Canadian Centre for Cyber Security, said Ottawa is confident sufficient safeguards exist to deal with the risks of telecommunications hacking or spying by China.