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Ren Zhengfei, founder and chief executive officer of the Chinese telecommunications company Huawei Technologies, estimated its losses from US sanctions at $30 billion in revenue over the next 2 years. He expects revenue in this and next years to be approximately $100 billion, maintaining the 2018 level. The sanctions allowed supplying American technology and components of Huawei only on the basis of special licenses. If the company loses access to Android updates, its sales of smartphones abroad will fall by 60%. Huawei CEO fears that the company may lose its competitive advantage. The company's management is trying to find alternative opportunities in order to preserve its existing advantages in the implementation of smartphones and the development of the G5 segment. The company also plans to intensify the production of its own chips.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
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