Chinese telecom giant Huawei is ready to deal with Washington's crackdown and will reduce its reliance on US components, its founder told Japanese media. President Donald Trump effectively barred Huawei from the US market on Wednesday and added it to a list which would restrict US sales to the firm amid an escalating trade war with Beijing. "We have already been preparing for this," Huawei founder and CEO Ren Zhengfei told a group of Japanese journalists Saturday in his first interview since Trump's move. Ren said Huawei would continue to develop its own components to reduce its dependence on outside suppliers. Huawei is a rapidly expanding leader in 5G technology but remains dependent on foreign suppliers. It buys about USD 67 billion worth of components each year, including about USD 11 billion from US suppliers, according to The Nikkei business daily. The usually elusive Ren, 74, has come out of the shadows in recent months in the face of increasing pressure on his company. Ren's ..
"Sell in May and go away" is an adage based on the historical underperformance of some stocks in the period beginning in May and ending in October. Investors subscribing to the sell-in-May-and-go-away strategy typically divest their equity holdings in the late spring and invest again in mid-autumn.
Africa's largest mobile phone operator, MTN, listed shares on the Nigerian Stock Exchange (NSE) last Thursday in a $6 billion flotation reflecting its increasing presence in the Nigerian market, its largest. The post Telecom giant MTN lists shares on Nigeria's stock exchange appeared first on Inquirer Technology.