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Nov 22, 2019, 06.42 PM IST

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  • MSCI's broadest index of Asia-Pacific shares outside Japan inched 0.2 per cent higher.

    A company announcement circulated Tuesday on social media said 90,000 employees will share 2 billion yuan (USD 285 million), or about 22,000 yuan (USD 3,100) each. Huawei's 180,000-member workforce also will receive an extra month's salary.

    Although Ericsson, Nokia, Huawei and ZTE haven’t officially reached out to VIL seeking their dues, they are closely watching the evolving situation, which may adversely affect their respective India revenue streams, already stressed due to lower spending on network expansion and upgrades this year, executives of vendor companies said.

    The billionaire entrepreneur embroiled in the Trump administration's fight with China over technology is a 75-year-old former army engineer who worked his way out of childhood poverty. He sees American pressure as just the latest in a string of tests that have hardened him and his company.

    Huawei is approaching a critical juncture in its fight for survival, six months after Washington barred it from buying key US components and software without special licences. Those include Google’s Android operating system, semiconductor design tools from Synopsys Inc. and Cadence Design Systems Inc. and radio frequency chips made by Qorvo and Skyworks.

    The firm is a key protagonist in US-China trade war that has seen billions of dollars of tit-for-tat tariffs.

    Britain is moving towards a decision that will see Huawei allowed access to "non-contentious" parts of the network, potentially opening a rift with the US which has banned the company over fears that it is too close to Chinese intelligence agencies.

    The Chinese Ministry of Science and Technology on Wednesday announced the establishment of two offices to develop 6G, setting off the competition for the next-generation cellular data service that comes after the super-fast 5G. The Ministry said one of the offices will house the government agencies responsible for the relevant policy making.

    Huawei and rival ZTE to a lesser extent have come under global scrutiny after the United States raised security concerns regarding 5G equipment, given their perceived proximity to the Chinese government. The US has asked its allies to ban 5G gear from Huawei. Canada, Japan, New Zealand, and Australia have acquiesced.

    According to a Financial Times report quoting a senior Huawei executive, the company hasn't been successful in finding replacements for Google apps which are very popular on Android devices across the globe.

    Advancing issues outnumbered decliners by a 2.10-to-1 ratio on the NYSE and by a 2.06-to-1 ratio on the Nasdaq.

    We are very open to having local manufacturing, not only 2G, 3G, but also 4G, says Huawei India CEO Jay Chen.

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