Business

07 Mar 2019; DW: Huawei is disputing a US law before a Texas court in a bid to overturn a security ban against its products, the company's rotating chairman Guo Ping said in a statement on Thursday.

"This ban not only is unlawful, but also restricts Huawei from engaging in fair competition, ultimately harming US consumers," Guo said.

NEW YORK, March 6 (Xinhua) -- The United States will see its annual economic growth decline to about 2 percent this year and slower growth is just a "new normal," New York Fed President John Williams said on Wednesday.

A downturn in global growth, heightened geopolitical uncertainty and the effects of tighter financial conditions are the three constraining factors that will contribute to the slower pace this year, the central bank official said in a speech to the Economic Club of New York.

LONDON, March 6 (Xinhua) -- The UK won't be ready to go cashless within the next 15 years as a sizable cash-dependent population risks being left behind, a report said on Wednesday.

Currently, cash is used to make three in ten transactions, down from six in ten a decade ago. But it could fall as low as one in ten in the coming 15 years, the latest report by the Access to Cash Review predicted.

WASHINGTON, March 6 (Xinhua) -- U.S. National Security Adviser John Bolton said on Wednesday that the United States would impose sanctions on foreign financial institutions that benefit Venezuelan President Nicolas Maduro and his administration.

"The United States is putting foreign financial institutions on notice that they will face sanctions for being involved in facilitating illegitimate transactions that benefit Nicolas Maduro and his corrupt network," Bolton said in a statement.

LONDON, March 6 (Xinhua) -- As Britain is set to leave the European Union (EU) on March 29, UK Finance firms have been preparing for a "no-deal" scenario that they believe would be "catastrophic" for the nation's economy.

In a recent statement, a spokesperson for UK Finance, which represents more than 250 firms in the UK's finance and banking industry, said that members were looking to put in place a plan to reduce the effects of a no-deal scenario.

BEIJING, March 6 (Xinhua) -- Downward pressure on the Chinese economy has worried global investors, but national lawmakers and political advisors attending the ongoing annual "two sessions" are optimistic about the economic outlook.

They have good reason to. While the GDP target of 6-6.5 percent for 2019 moderated from the 6.6-percent growth the country achieved last year, a series of new growth drivers have emerged that are expected to underpin the country's long-term prosperity.

BEIJING, March 6 (Xinhua) -- Senior Chinese leaders on Wednesday urged for more efforts to advance high-quality development.

Li Keqiang, Wang Yang and Han Zheng -- members of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee -- made the remarks at the annual "two sessions" of the country's top legislative and political advisory bodies.

New Delhi, March 6 : The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:

The United States has extended its trade war to India by withdrawing preferential trade treatment for India.  By scrapping the benefits under the Generalised System of Preferences, which will take effect after 60 days, 1900 items of exports from India, which were exempted from duties, will be affected.

New Delhi, Mar 6 (PTI) India Wednesday said its first meeting with Pakistan to finalise the modalities for Kartarpur corridor would be held at the Indian side of the Attari-Wagah border on March 14.

The announcement came a day after Pakistan said it would send a delegation to India on March 14 to discuss a draft agreement for setting up of the corridor to facilitate visa-free visit of Sikh pilgrims to the Gurudwara Kartarpur Sahib.

Shimla, Mar 6 (PTI) All major railways station on the Shimla-Kalka heritage route will get free Wi-Fi, officials said on Wednesday.

Himachal Pradesh chief minister Jai Ram Thakur launched the free Wi-Fi facility along with the 'hop-on hop-off' service which will let passengers get down at any station and board another incoming train without purchasing new tickets.

This would help in boosting tourism on wayside stations like Barog, Solan, Shogi and so on, Thakur said.