China: Canada’s detention of Huawei exec ‘vile in nature’

Meng Wanzhou, Huawei Technologies Co Ltd's chief financial officer (CFO), is seen in this undated handout photo obtained by Reuters December 6, 2018. (REUTERS)
Updated 09 December 2018
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China: Canada’s detention of Huawei exec ‘vile in nature’

  • Huawei is the biggest global supplier of network gear for phone and Internet companies and has been the target of deepening US security concerns

BEIJING: China has summoned the Canadian ambassador to protest the detention of a top executive of leading Chinese tech giant Huawei, calling it “unreasonable, unconscionable, and vile in nature” and warning of “grave consequences” if she is not released.
A report by the official Xinhua News Agency carried on the Foreign Ministry’s website says Vice Foreign Minister Le Yucheng had called in Ambassador John McCallum on Saturday over the holding of Chief Financial Officer Meng Wanzhou, who is reportedly suspected of trying to evade US trade curbs on Iran.
Huawei is the biggest global supplier of network gear for phone and Internet companies and has been the target of deepening US security concerns. The US has pressured European countries and other allies to limit use of its technology.


Saudi Arabia and UAE launch a new joint cryptocurrency

Updated 20 January 2019
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Saudi Arabia and UAE launch a new joint cryptocurrency

  • The cryptocurrency will be limited to banks during its first stages
  • The program will also help the two countries evaluate the monetary policies of a centralized currency

Saudi Arabia and the UAE have launched a joint cryptocurrency during the first meeting of the Saudi-Emirati Coordination council Saturday in Abu Dhabi, UAE’s national press agency WAM said.

The cryptocurrency will be limited to banks during its first stages, until the governments have a better understanding of how Blockchain technology operates cross-borders.

The currency operates on the use of a “distributed database between the central banks and the participating banks from both sides,” aiming to protect customer interests, set technology standards and assess cybersecurity risks. The new program will also help evaluate the impacts of a central currency on monetary policies.

During the meeting, representatives of Saudi Arabia and the UAE also signed the Joint Supply Chained Security Cooperation program, which tests the two countries abilities to provide vital supplies during times of crisis and national emergencies, as well as share expertise and knowledge in the field.

All 16 members of the executive committee of the council followed up on the execution of the initiatives mentioned in the Strategy of Resolve.

Representatives also set five other initiatives to enhance the cooperation between the two countries, such as facilitating the traffic between ports, improving airports to make it easier for people with disabilities to travel, creating a financial awareness program for children aged 7-18, starting a joint platform to support local SMEs, and the integration of civil aviation markets,

The committee was headed by Mohammad bin Abdullah Al-Gergawi, minister of cabinet of affairs and the future of UAE, and Mohammed bin Mazyad Al-Twaijri, minister of economy and planning in Saudi. The committee will also monitor the implementation of the initiatives.