Chinese electronics giant ZTE Corp. announced Wednesday that it has ceased major operating activities in the US following a seven-year ban that forbids USA companies from supplying ZTE with components. ZTE got to this place by selling goods and services to Iran and North Korea, which violated US sanctions.
ZTE said in an exchange filing it "maintains sufficient cash" for now and will meet its commercial obligations.
Chinese mobile phone maker, ZTE, survives to fight another day, but its business continues to be hampered by restrictions imposed last month by the U.S. administration.
Kenyan dam bursts causing "huge destruction", deaths
Nakuru County Governor Lee Kinyanjui stated that his office will do its best to ensure those affected are taken to a safer place. The burst happened in Solai near the Rift Valley city of Nakuru, 120 miles northwest of the capital Nairobi, late on Wednesday.
ZTE Corp's main business operations have ceased due to a ban imposed by the USA government, but China's second biggesttelecom equipment maker is trying to have the ban modified or reversed, it said on Wednesday. According to a report in Reuters, MediaTek had obtained an export permit to sell parts to ZTE. The Chinese smartphone manufacturer has been hit hard by the U.S. Department of Commerce (Doc), which banned American companies from selling components to ZTE last month.
The company's device webpage that provides smartphone information and detailed addresses of ZTE's after-sales service locations now automatically diverts users to the company's main Chinese-language webpage that said "the website is under revision, please stay tuned".
ZTE said that the U.S ban was unfair and threatens its survival. Meanwhile, this is just one example of the looming US-China trade war, which heavily involves technology companies like ZTE and Huawei.
In a bid to get the ban removed, the company has submitted an application to the U.S. Commerce Department's Bureau of Industry and Security (BIS) requesting it be suspended.
Valve announces Steam Link and Steam Video apps for Android
Valve did not announce a specific release date for the apps, but they claim they'll be arriving in the "coming weeks". The Steam Video will be available a bit later on this summer and will allow video streaming in a similar fashion.
The department said that in March 2017 the company agreed to pay a $1.19 billion penalty for breaching sanctions on Iran and North Korea.
During a recent visit with United States trade officials, China raised concerns about the plight of ZTE.
We'll keep you posted as this situation continues to unfold. While the company didn't go into too much detail, ZTE says further announcements on its status - in relation to the recent events - will be made in the near future. The company could not compete due to an export ban from the United States.
Wenger surprised by volume of job offers
Ex-Barcelona coach Luis Enrique has been linked with the job, along with Juventus boss Massimiliano Allegri. "Yes, it's true, I want to win the last two away games", Wenger said in his pre-match press conference.