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China opposes unilateral sanctions against its entities

BEIJING: China strongly opposes other countries imposing unilateral sanctions on Chinese entities, a Commerce Ministry spokesman said in response to the latest US restrictions on telecom giant Huawei Technologies Co.

The US Commerce Department said on Wednesday that it was adding Huawei Technologies Co and 70 affiliates to its so-called “Entity List” in a move that bans the Chinese telecommunications giant from acquiring components and technology from US firms without prior US government approval.

Late selling sends KLCI below 1,600; Leong Hup unchanged

KUALA LUMPUR: Late selling pressure on Public Bank, Maybank and Tenaga Nasional forced the FBM KLCI to close below the key 1,600 level on Thursday while Leong Hup International ended its first trading day unchanged.

U Mobile to offer unit trusts from 3Q2019

KUALA LUMPUR: U Mobile Sdn Bhd, via its subsidiary U Mobile Services Sdn Bhd, has tied up with iFAST Capital Sdn Bhd to offer unit trusts from the latter’s business-to-consumer (B2C) online distribution arm, FSMOne.

China's Huawei, 70 affiliates placed on US trade blacklist

WASHINGTON/NEW YORK: The U.S. Commerce Department said on Wednesday it is adding Huawei Technologies Co Ltd and 70 affiliates to its so-called “Entity List” - a move that bans the telecom giant from buying parts and components from U.S. companies without U.S. government approval.

U.S. officials told Reuters the decision would also make it difficult if not impossible for Huawei, the largest telecommunications equipment producer in the world, to sell some products because of its reliance on U.S. suppliers.

Trump order clears way to bar Huawei from US telco networks

WASHINGTON: President Donald Trump on Wednesday signed an executive order declaring a national emergency and barring U.S. companies from using telecommunications equipment made by firms posing a national security risk, paving the way for a ban on doing business with China's Huawei Technologies Co.

Members of Congress said the order was squarely aimed at Chinese companies like Huawei that U.S. intelligence officials say could be used by the Chinese state to spy.  "China’s main export is espionage, and the distinction between the Chinese Communist Party and Chinese ‘private-sector’ businesses like Huawei is imaginary," Republican Senator Ben Sasse said.

Trump poised to sign order restricting foreign telcos

WASHINGTON: President Donald Trump plans in coming days to sign an executive order that would prohibit American firms from using gear made by foreign telecommunications companies that pose a security threat, according to an administration official.

Maxis sees overall performance remaining solid

KUALA LUMPUR: Maxis Bhd sees the cessation of the 3G radio access network (RAN) lease arrangement by U Mobile Sdn Bhd to have minimal impact on its 2019's earnings before interest, taxes, depreciation and amortisation (Ebitda).

Maxis CEO Gokhan Ogut said the group's Ebitda would see a single digit decline, but the performance overall, to remain solid.