Home Blog Page 1344

Google and Android system start to cut ties with Huawei

By
Editor
-
0

US internet giant Google, whose Android mobile operating system powers most of the world’s smartphones, said it was beginning to cut ties with China’s Huawei, which Washington considers a national security threat.

The move could have dramatic implications for Huawei smartphone users, as the telecoms giant will no longer have access to Google’s proprietary services — which include the Gmail and Google Maps apps — a source close to the matter told AFP.

In the midst of a trade war with Beijing, President Donald Trump has barred US companies from engaging in telecommunications trade with foreign companies said to threaten American national security.

The measure targets Huawei, the world’s second-biggest smartphone maker, which has been listed by the US Commerce Department among firms that American companies can only engage with in trade after obtaining the green light from the authorities.

The ban includes technology sharing.

“We are complying with the order and reviewing the implications,” a Google spokesperson told AFP.

“For users of our services, Google Play and the security protections from Google Play Protect will continue to function on existing Huawei devices.”

Google, like all tech companies, collaborates directly with smartphone makers to ensure its systems are compatible with their devices.

Due to the ban, Google will now have to halt business activities with Huawei that involve direct transfer of hardware, software and technical services that are not publicly available — meaning Huawei will only be able to use the open source version of Android, the source told AFP.

Google apps such as Gmail and Maps should remain functional on Huawei phones at least initially, another source told AFP.

But while the ban on technology sharing is in place, Huawei will be required to manually access any updates or software patches from Android Open Source Project — the code accessible to all outside programmers — and also to distribute the updates to users itself.

A person familiar with the matter who requested anonymity told Bloomberg News Huawei that will be unable to offer Google’s proprietary apps and services in the future.

Huawei did not immediately respond to requests for comment.

– 5G leader –

Huawei is a rapidly expanding leader in 5G technology, and its smartphones outsold Apple’s iPhones in the first quarter of this year, seizing the California company’s second-place spot in a tightening smartphone market dominated by Samsung.

But the Chinese firm remains dependent on foreign suppliers.

It buys about $67 billion worth of components each year, including about $11 billion from US suppliers, according to The Nikkei business daily.

Huawei is the target of an intense campaign by Washington, which has been trying to persuade allies not to allow China a role in building next-generation 5G mobile networks.

US government agencies are already banned from buying equipment from Huawei.

Huawei founder and CEO Ren Zhengfei said Saturday that “We have not done anything which violates the law,” adding the US measures would have a limited impact.

Ren’s army background and Huawei’s opaque culture have fueled suspicions in some countries that the firm has links with the Chinese military and intelligence services

 

Source: AFP

Japan to sign on to US moon exploration platform

By
Editor
-
0

TOKYO — Japanese Prime Minister Shinzo Abe and U.S. President Donald Trump are expected to sign an agreement on joint lunar exploration and other space-related projects when they meet here May 27, seeking to stay a step ahead of China and other rivals.

Japan will join the U.S.-led Gateway project, which involves putting a manned space station into lunar orbit to use as a base for missions to the moon and eventually Mars. This will mark the two countries’ first collaboration on lunar exploration.

Such partnerships are growing more important to Washington as it competes with Beijing for supremacy in space. The U.S. plans to establish a Space Force by 2020 and is reaching out to allies, including Japan, to solidify its dominance.

 

For the Gateway project, Japan plans to contribute in such areas as life support systems and transporting supplies from Earth, using technology from its Kounotori unmanned cargo transfer vehicle and the Kibo experiment module. The government will revise its space policy framework and work on the necessary budgetary and legislative steps this year.

Canada is participating in the Gateway project, and the European Union is expected to join.

Washington and Tokyo will also work together on space junk for the first time, monitoring and exchanging information about suspicious objects to improve the accuracy of their observations. Japan, which currently relies on the U.S. for much of this data, will develop its own technology and set up an information-sharing framework.

If a piece of debris collides with a military, GPS or weather observation satellite, for instance, the impact for people on Earth could be significant. The U.S. and Japan will treat space junk as a security risk and work to minimize such accidents.

The two countries will affirm cooperation on Japanese-led projects as well, including Japan’s homegrown version of GPS. Washington plans to have space observation equipment ride along with satellites for this system that are slated for launch around 2023.

 

Source : Nikkei Asian Review

Banking sector clean up boost confidence - BoG

By
Editor
-
0

The recent recapitalization exercise embarked on by the Bank of Ghana (BoG) has helped to restore confidence in the banking industry, Osei Gyasi, Head of Banking Supervision at the BoG has said.

 He said following the exercise which ended on December 31, 2018, that has all the 23 banks meeting the new minimum paid-up capital of GH ₵400 million, sanity had been brought into the banking industry.

 Mr. Gyasi made this known in Accra on Tuesday at a roundtable organized by the Integrity Magazine and Fidelity Bank Ghana Limited on the topic “Building a strong macro economy through effective and trusted banking.”

“Currently, the citizenry confidence in the banking industry has increased deposits, as shown in the balance sheet of the various banks. The banks now have enough liquidity to pay clients and transact businesses,” he said.

Mr. Gyasi said the reforms instituted by the Central Bank, following the recapitalization exercise had helped to improve the expertise of the staff of the various banks.

He said the BoG as parts of it reforms, frequently organized training programmes for the staff of the financial institutions in the country, as well as fit and proper test for those at the top hierarchy.

Mr Gyasi explained the fit and proper test was to enable the BoG to thoroughly scrutinize and ensure persons employed to head sensitive positions in a bank had the required skills and knowledge.

The Director of Finance at Fidelity Bank Ghana Limited, Mr Atta Gyan said the role played by the financial sector in exacerbating the 2008 financial crises, had eroded trust in the banking industry.

“Locally, but for the central bank’s intervention in ensuring that depositors and other creditors do not lose their moneys, the trust would have been significantly eroded,” he said.

He mentioned low Gross Domestic Product growth rate, high inflation, high interest rate, weak currency and high fiscal deficit as some factors which weakened banks and the financial system.

Mr Gyan called on local banks to tap into the expertise of the International Monetary Fund, the World Bank and the Bank for International Settlement to adopt sound risk management practice and good corporate governance.

BY BERNARD BENGHAN                           

Govt releases GH¢2m … as scholarship for 2018 best farmers’ children

By
Editor
-
0

The Ministry of Finance has released GH¢2 million to the Scholarship Secretariat as scholarship package for the children and wards of the 2018 National Best Farmers Award winners, to study programmes at the tertiary institutions,  ranging from first degree to Ph.D.

This follows the promise made by President Nana Addo Dankwa Akufo-Addo, at the 34th National Farmers Day in Tamale, in 2018, for children and wards of the winners, to study agricultural subjects of their choice.

This came to light at a meeting involving 24 award winners, the Scholarship Secretariat and the Ministry of Food and Agriculture (MOFA), held here on Friday.

The meeting aimed at drawing programmes on how the scholarship would benefit the farmers, their workers, dependants as well as community members, and identifying the areas of interest of the farmers.

Mr Kingsley Agyemang, the Registrar of the Scholarship Secretariat, said farmers needed to be more knowledgeable about their activities, to enhance productivity using the best practices in the agricultural value chain, hence the government’s decision to offer the scholarships.

He said the move was a further testimony of the government’s commitment to making agriculture a business and a lucrative venture for Ghanaians.

Chief Director of the MOFA, Robert Patrick Ankobiah, said building farmers’ capacity was crucial because of the new vision of the current administration to modernise agriculture to catalyse Ghana’s economy.

He indicated that the scholarships for the farmers in the areas they preferred would ensure that government achieved its goal of enhancing agriculture and enticing the youth into the sector.

The 2018 overall best farmer, James Obeng, commended the government, saying “it is only a naïve person, who will not understand the importance of education, the fact that farm management is a serious educational issue.”

Madam Charity Akortia, the 2018 first runner up, said the scholarship scheme would open many avenues for workers or dependents to be more interested in farming, to boost productivity.

Similarly, Mr Gustav Annor Owiredu, 2018 National Best Youth Farmer, indicated that because farming was being modernised “we need such scholarships to train workers and community members, to take up farming as serious business, as most people now seem to shun the sector”.  

FROM KINGSLEY E. HOPE, KUMASI  

Ghana’s cocoa products attract Chinese interest at Hangzhou Expo

By
Editor
-
0

The Ghana’s stand at the International Tea and Coffee Expo in Hangzhou, China was the toast of hundreds of Chinese, as they visited the stand to have a taste of the cocoa products on exhibition.  

On the day set aside to honour Ghana, the Ghanaian stand was visited by the Chinese Minister for Agriculture and Rural Affairs, Mr Han Changfu and later by his Vice Dr Qu. Dongyu, a statement from Ghanaian officials copied the Ghanaian Times said.

The huge crowds were entertained by a Ghanaian dancing troupe accompanied by traditional music, much to the appreciation and amusement of the ministers and the teeming visitors, the statement said.

The organisers of the Expo confirmed Ghana’s stand as, by far the most popular.

Dr Owusu Akoto Afriyie is in China with a 20-member delegation from Ghana to promote Ghanaian chocolate and other cocoa products to Chinese consumers.

The delegation includes a strong contingent from Cocoa Processing Company, Ghana Cocobod, private cocoa processor Plotte Limited from Takoradi, Ministry of Food and Agriculture, Ministry of Trade and others.

Ghana was invited by the Chinese government as special guest country.

The Expo which started on Tuesday and ended yesterday drew more than 2000 exhibitors from different countries.

Huawei ban ripples across global supply chain

By
Editor
-
0

WASHINGTON — The U.S. decision to place Huawei Technologies on an export blacklist has sent companies across the world scrambling to respond to the latest salvo against China’s largest telecommunications supplier.

When the U.S. Commerce Department announced Wednesday the addition of Huawei to the list of foreign enterprises that pose national security risks, law firms sent urgent warnings to client businesses considering that the restrictions would go into effect the next day.

Huawei and 68 affiliates have been placed on the so-called Entity List, which requires suppliers to obtain permission from the Commerce Department before shipping components to the named companies. Such requests are usually denied.

 

The Commerce Department’s restrictions include sensitive technologies with potential military applications, such as semiconductors. But the latest embargo against Huawei applies to all products. The restrictions also apply to products made outside of the U.S., though they can generally be supplied without the Commerce Department’s permission if the percentage of U.S.-derived parts and software does not exceed 25% by market value.

Yet assessing whether individual components are exempt from the export ban is a challenging task, even with known formulas. The only way to confirm a waiver is to petition the Commerce Department directly, some legal experts say.

Numerous companies appear to be willing to cut ties with Huawei to avoid incurring penalties from U.S. authorities. An executive at a U.S. semiconductor manufacturer confirmed to Nikkei that the company is left with no alternative but to stop supplying to Huawei, saying that the outcome is unfortunate for both the U.S. and Chinese sides.

However, “If delivery contracts are not fulfilled, that could result in demands for compensation covering damages,” said Kazuhiro Yanagida, an attorney well versed in corporate law. Whether the U.S.-China trade war can excuse a party from fulfilling a contract is not clear.

In response to these concerns, the Commerce Department is considering issuing 90-day general licenses that grant waivers for certain transactions, Reuters reported Friday. These exemptions would apply, for example, to components used by Huawei to maintain existing telecom equipment. The temporary licenses would not apply to any new business with American suppliers.

ZTE, China’s second-largest telecom manufacturer, was placed on the Entity List in 2016 for violating Iran trade sanctions. It was allowed to procure from some U.S. suppliers about two weeks later. Those provisional accommodations were made after ZTE offered to cooperate in the investigations, said Kevin Wolf, the former assistant secretary of commerce who oversaw the case at the time.

Although ZTE remained on the blacklist through March 2017, the company was able to minimize the damage to its business. Wolf raises the possibility of Huawei bargaining for a modified sanction considering that the Trump administration is proceeding with the export ban in concert with the Justice Department prosecution against the company.

The direction of the U.S.-China trade war remains the wild card in this dynamic. Commerce Secretary Wilbur Ross maintained Thursday that the case against Huawei is a separate matter from the ongoing trade negotiation. “It was not something that had been discussed in any of the … many meetings that have been held between China and the United States,” said Ross.

However, U.S. President Donald Trump has said he could act on behalf of Huawei Chief Financial Officer Meng Wanzhou, who was arrested in Canada, if he thought it would be good for the trade deal. “I would certainly intervene if I thought it was necessary,” he said in December. Restrictions against Huawei could change on Trump’s whims, which adds an extra layer of uncertainty to the global supply chain.

 

Source : Nikkei Asian Review

Newspaper Headlines Monday 20th May 2019

By
Editor
-
0

[ngg src=”galleries” ids=”55″ display=”basic_thumbnail”]

Despite the Rains

By
Editor
-
0

Thousands of people in the western corridor of Ghana had the most rare opportunity to respond to the call to enter the kingdom of God despite heavy rains that threatened to stop the crusades.


The people of Sefwi Asawinso in the newly created Western North region of Ghana has had their first enjoyment of spiritual blessings through the crusade organised by the Healing Jesus Campaign team led by Evangelist Dag Heward-Mills.

The three-day campaign had two days almost rained off but the people refused to miss their blessing perhaps and so despite the rains on the second and third day, the Healing Jesus crusade in the town of Asawinso came on unabated.

Thousands of people thronged the crusade grounds to receive the word preached by the international Evangelist.

A very important part of the campaign is the medical missions which the people being given medical care during the day. Doctors examined patients and treated all forms of ailments, giving them medication which cost thousands of Ghana cedis.

The coming of International Evangelist Dag Heward- Mills is said to have been a surprise to the townsfolk who asked why such a person would want to visit a town like Asawinso that has almost nothing to boast of save a secondary school.

                                 

Miracles upon miracles were experienced every night in the three-night campaign and the pastors were not left out. The crusade moves to Sefwi Bekwai and then Sefwi Wiaso for the next campaigns.

By: Naa Ode

Newspaper Headlines Thursday 16th May 2019

By
Editor
-
0

[ngg src=”galleries” ids=”52″ display=”basic_thumbnail”]

MTN Nigeria receives approval to list on the Nigerian Stock Exchange

By
Editor
-
0

MTN Nigeria has received approval to list on the Premium Board of The Nigerian Stock Exchange, NSE.

The listing is set to proceed on 16 May 2019 and will be done by way of an introductory listing. The listing by introduction means that the shares of existing MTN Nigeria shareholders will be listed without an additional public sale of shares.

From this point, all MTN Nigeria shareholders will be free to trade their shares on the NSE.

Commenting on the announcement, Ferdi Moolman, CEO of MTN Nigeria said: “It gives me great pleasure to confirm that the official listing via the introduction of MTN’s shares on the NSE will take place on Thursday, May 16.”

“We appreciate the continued support afforded us by the government, regulators and people of this great nation. In particular, I would like to thank the staff and management of MTN Nigeria who worked tirelessly to make this day possible. This is just the beginning, we still intend to pursue a future Public Offer giving more Nigerians greater access to the MTN opportunity.”

MTN Group CFO, Ralph Mupita said “As MTN Group we are very pleased that we are taking this first and important step towards increasing the local ownership of the company, and building the equity capital markets in Nigeria”

MTN Nigeria recently announced its earnings for the first quarter ended March 31, 2019 recording 13.4% growth in service revenue.

This was driven by a 12.7% and 32.4% rise in voice and data revenue respectively and the addition of 2.1 million active mobile subscribers to the network.

The company announced Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of N150.4 billion and expanded EBITDA margins to 53.3% (44.2%, on an IAS 17 basis) due to growth in revenue and effective cost management.

www.mtn.com

1...1,3431,3441,345...1,457Page 1,344 of 1,457