9-month revenue rises despite US pressure: Huawei Govt likely to bring new law to fix minimum distance between ports

SHANGHAI: Chinese tech giant Huawei said on Wednesday that its revenue for the first nine months of the year grew by almost a quarter despite a US campaign to isolate the company globally. Huawei's revenues jumped 24.4 per cent on-year to $86.2 billion and its profit margin increased 8.7 per cent, it announced.

Huawei, based in the southern Chinese city of Shenzhen, is the world's leading supplier of telecoms networking equipment and the number-two global smartphone vendor. But it has been under pressure this year as US officials lobbied allies worldwide to avoid the company's telecom gear over security concerns, amid a wider trade conflict between the two economic superpowers.

In May, Washington said it would blacklist Huawei from the US market and from buying crucial American components, though it has twice extended the company 90-day reprieves, the latest coming in August. The United States has expressed concern that Huawei equipment could contain security loopholes that allow China to spy on global communications traffic. The company has repeatedly denied the accusation. "Huawei has maintained its focus on (information and communications technology) infrastructure and smart devices, and continued to boost the efficiency and quality of its operations," company said.

"This contributed to increased operational and organisational stability and solidified the company's performance in the first three quarters of 2019." The US blacklist could prevent Huawei from getting hold of key hardware and software including smartphone chips, and exclude it from the Google Android operating system, which equips the vast majority of smartphones in the world, including those of Huawei. NEW DELHI: The government will soon bring a law, which will empower the Centre to fix minimum distance between two ports or to alter the limits of any port in the country, reported The Times of India on Wednesday .

In recent years, competing ports have come up close to each other and it has become a major cause of concern, particularly for the government-owned ports. Ensuring minimum distance will help major ports under government compete with the private ones in the region.

“The New Indian Ports Bill will also specify the minimum quality standards or facilities that every new port has to ensure. The other features will include simplifying the regulatory and administrative mechanism for the ports, fixing of port charges and tariff,” said a government official.

The issue was discussed in detail at the 17th Maritime State Development Council meeting on Tuesday, which was chaired by Union shipping minister Mansukh L Madaviya. Officials said the representatives from states agreed to set up a panel which will finalise the draft Bill for government's consideration.

The proposed law will be applicable to all the 13 major ports (owned by Central government) and other non-major ports (under state government or with private players) across the country.

The proposal to set up the panel to look into all aspects is significant considering that some of the maritime states had earlier opposed a similar Bill in 2011 when the Centre had moved a proposal to amend the Indian Port Act, 1908. They had alleged that the Centre was trying to usurp the powers of state governments.

Officials also said that the shipping ministry will introduce the Major Port Authorities Bill during the winter session of parliament, which will give more freedom to the major port chairmen to take decisions considering the prevailing business condition and to improve efficiency.