On Wednesday, ZTE shares plunged a record 41 percent in Hong Kong and 10 percent in Shenzhen, wiping out almost $3 billion off embattled ZTE’s market value, as it resumed trading after being suspended for almost two months due to the U.S. ban
As per the SC directives, this relief will last for 15 days after which the FBR and cellular companies would submit a mechanism to the apex court for collecting taxes via mobile phone top-up cards
The Hong Kong-listed shares of ZTE slid as much as 41 percent to HK$14.98, their lowest in a year, following a two-month trading suspension.
Before the apex court decision, provinces were collecting around 19.5 percent tax on a prepaid phone card, so their revenue collection losses would touch Rs75 billion annually
Under the settlement, ZTE will pay a total civil penalty of $1.7 billion, including $361 million already paid as part of a March 2017 agreement, the $1 billion fine and the $400 million that will go into escrow
The UAE-based company has withheld $800 million payment on grounds of properties not being transferred in its name and out of 3,300 properties, 33 of them cannot be transferred in the name of PTCL
Fox News said Trump told them on Thursday that he had negotiated the $1.3 billion fine with Chinese President Xi Jinping in a phone call
In April this year, the Commerce Department found ZTE had violated the terms of last year’s settlement and banned U.S. companies from providing exports to ZTE for seven years. As a result, ZTE suspended its main operating activities earlier this month
ISLAMABAD: The Supreme Court (SC) on Tuesday summoned the federal government, Federal Board of Revenue, provinces and telecom companies to submit a response to the...
Unregistered devices will be denied mobile communication service and will be included in blacklist if found operational on the public switched network
Personnel on US military bases can no longer buy phones and other gear manufactured by Chinese firms Huawei and ZTE after the Pentagon said the devices pose an “unacceptable” security risk.
Pakistan Telecommunication Authority (PTA) has approved edotco Pakistan's change of shareholding by way of subscription by Dawood Hercules Corporation Limited (DH Corp) of 45 per cent of the share capital of edotco Pakistan.
Until the end of February 2018, Pakistan’s total mobile broadband subscribers stood at 53.5 million.
ISLAMABAD: Special Communication Organisation (SCO) has been permitted by a local court to start trial operations of 3G and 4G services in Gilgit-Baltistan (GB). The...
NEW YORK/LONDON: U.S. prosecutors in New York have been investigating whether Chinese tech company Huawei violated U.S. sanctions in relation to Iran, according to...