The event will be a deep dive into the latest trends, opportunities, and challenges confronting the banking and fintech sectors
uae1 hour ago
The White House Office of Management and Budget has told the US Congress it will now meet a two-year deadline to ban federal contracts with companies that do business with Chinese telecom giant Huawei, part of a defense law passed last year, according to a letter seen by Reuters.
"Congress has made it clear in recent days the importance of implementing the law within the two years provided, and we will," Russ Vought, the acting director of OMB, said in a letter to Senator James Inhofe, chairman of the Senate Armed Services Committee.
Last week the OMB had said it would need more time to implement the ban, which requires third-party suppliers and contractors to restrict their purchases and use of Huawei equipment.
But the White House reversed course after "recent conversations with Congress," Vought said in the letter dated on Wednesday.
"As we move forward to meet the statutory deadline without further delay, we will work with Congress to address any unforeseen issues that arise," Vought said.
The ban is one part of a multifaceted US push against Huawei Technologies Co Ltd, the world's largest telecoms network gear maker, which Washington accuses of espionage and stealing intellectual property.
Huawei has repeatedly denied it is controlled by the Chinese government, military or intelligence services. It has filed a lawsuit against the US government over the restrictions in the defense policy bill.
The defence law, called the National Defense Authorization Act (NDAA), placed a broad ban on the use of federal money to purchase products from Huawei, citing national security concerns.
It included a ban on direct federal purchases of Huawei equipment, which will take effect this year.
The event will be a deep dive into the latest trends, opportunities, and challenges confronting the banking and fintech sectors
uae1 hour ago
Tournament will start on June 1 and will be played in different venues in the USA and the Caribbean
cricket2 hours ago
Starliner will remain at the International Space Station for a little over a week
aviation2 hours ago
The Australian airline is accused of illegally selling thousands of tickets for flights that had already been cancelled
world2 hours ago
The flight, if it succeeds, will become the second private firm to provide crew transport to and from the International Space Station
world2 hours ago
The musical evening, 'Romancing Tagore', will celebrate the Bard’s poetic words and music and explore his diverse influences
entertainment2 hours ago
In latest feat, Pakistan's Naila Kiani climbed world’s fifth highest peak Makalu on Sunday
uae3 hours ago
About 1.2 million people are currently sheltering in the Palestinian city
mena3 hours ago