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Cisco cuts ties with China’s ZTE

London: Cisco Systems has ended a long-standing sales partnership with ZTE Corp after an internal investigation into allegations that the Chinese telecommunications equipment maker sold Cisco networking gear to Iran.

Cisco’s probe followed stories by Reuters in March and April that documented how Shenzhen, China-based ZTE had sold banned computer e


Courts Asia raises $111 million in Singapore IPO

Singapore: Courts Asia, a furniture and electronics retailer with operations in Singapore and Malaysia, raised about S$137 million (Dh409 million) in an initial public offering, two people with knowledge of the matter said.

The company sold shares at 77 cents apiece, the people said, asking not to be named as the information is private.

Courts Asia


Cheap valuation is not enough for a China rally

Shanghai/Singapore: The last time China’s stocks were this cheap in 2008, the benchmark index rose 83 per cent in a year.

Now is different as policymakers struggle to reverse the worst economic slowdown in more than a decade, the most-accurate strategists say.

While the Shanghai Composite Index trades at 11.4 times the earnings of China’s biggest c


US Congress report tags China firms as ‘security threat’

Washington/Hong Kong: China’s top telecoms gear makers should be shut out of the US market as potential Chinese state influence on them poses a security threat, the US House of Representatives’ Intelligence Committee said in a draft of a report to be released on Monday.

US intelligence must stay focused on efforts by Huawei


French and German governments must reduce their stakes in defence company EADS

London: The French and German governments must reduce their stakes in defense company EADS NV for the UK to allow a proposed merger with BAE Systems PLC to go ahead, Britain’s defense secretary warned on Sunday.

Philip Hammond said Britain would veto the mega-merger of the aeronautics and defense companies if this requirement wasn’t satisfied.

“It i


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