Huawei founder hints at problems with access to western finance

File: The founder of embattled tech giant Huawei said Thursday that the firm's financing from western banks was not"very smooth", but insisted the group would resume growth in 2022 despite biting US sanctions.BEIJING, China - The founder of embattled tech giant Huawei said Thursday that the firm's financing from western banks was not"very smooth", but insisted the group would resume growth in 2022 despite biting US sanctions.

Speaking at a panel discussion organised by the company at its headquarters in Shenzhen, southern China, CEO and founder Ren Zhengfei admitted the US sanctions had affected Huawei's financing."In the past we used to get financing from western banks, now the western bank financing pipeline has slowly been not so smooth," Ren said.Huawei planned to raise up to 30 billion yuan in its first domestic bond issues, Chinese business news magazine Caixin reported earlier this month.

Ren said operations remained at full-throttle, but added"there will be no huge increase" in business next year."In 2022 and after everyone will see Huawei has resumed growth, they've resolved the difficulties and started to grow," said Ren.Huawei reassures SA usersThe US has expressed fears that Huawei equipment could contain security loopholes that allow China to spy on global communications traffic.

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Norway will not ban Huawei from 5G mobile network: minister - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Norway does not plan to block China's Huawei Technologies from building the country's 5G telecoms network, cabinet minister Nikolai Astrup told Reuters, a decision that puts it at odds with NATO ally the United States.
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