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China protests arrest of Huawei's chief financial officer in Canada

02:34 PM | 6 Dec, 2018
China protests arrest of Huawei's chief financial officer in Canada
OTTAWA - The chief financial officer of China's global telecommunications giant Huawei has been arrested in Canada and faces extradition to the United States, officials said Thursday, triggering a strong protest by Beijing, which called for her immediate release.

Meng Wanzhou's detention comes after American authorities reportedly launched an investigation into suspected Iran sanctions by Huawei, which was already under scrutiny by US intelligence officials, who deemed the company a national security threat.

Meng "was arrested in Vancouver on December 1," a statement by Canada's ministry of justice said.
"She is sought for extradition by the United States, and a bail hearing has been set for Friday."

The ministry added it could not provide further details due to a publication ban that was sought by Meng, who is the daughter of Huawei founder Ren Zhengfei, a former Chinese People's Liberation Army engineer.

The Wall Street Journal reported in April that US Department of Justice had opened an investigation into suspected violations of Iran sanctions by Huawei.

The New York Times meanwhile said that the company had been subpoenaed by the Commerce and Treasury Departments over alleged violations of Iran and North Korea sanctions.

China's embassy in Ottawa issued a swift reaction to the news, calling for Meng's release.

"The Chinese side firmly opposes and strongly protests over such kind of actions which seriously harmed the human rights of the victim," the diplomatic mission said in a statement.

"The Chinese side has lodged stern representations with the US and Canadian side, and urged them to immediately correct the wrongdoing and restore the personal freedom of Meng Wanzhou."

Huawei added it was unaware of any wrongdoing and was in compliance with all applicable laws.

"The company has been provided very little information regarding the charges and is not aware of any wrongdoing by Wanzhou," it said.

Espionage worries


Huawei is one of the world's largest telecommunications equipment and services providers but despite global success, its US business has been tightly constrained by worries it could undermine American competitors and that its cellphones and networking equipment, used widely in other countries, could provide Beijing with avenues for espionage.

Over the summer, Australia also barred Huawei from providing 5G technology for wireless networks in the country over espionage fears. New Zealand followed suit in November, but said the issue was a technological one.

https://en.dailypakistan.com.pk/world/us-paranoia-against-chinese-company-huawei-increases-as-intel-chiefs-warn-citizens-against-buying-foreign-phones/

In June, Canada's Globe and Mail newspaper reported that US lawmakers warned the Canadian government that Huawei posed a major cybersecurity risk.

Despite being essentially barred from the critical US market, Huawei surpassed Apple to become the world's number two smartphone maker in the second quarter of this year and has market leader Samsung in its sights.

https://en.dailypakistan.com.pk/opinion/when-the-sleeping-giant-wakes/

Meng's arrest comes as Ottawa and Beijing have been engaged in exploratory talks on a free trade agreement for the past two years, which would be the first deal of its kind between China and a western country.

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Pakistani rupee recovers against US dollar, Euro, Pound, Dirham and Riyal; check forex rates

Pakistani rupee continues recovering losses against US dollar and other currencies amid positive economic cues.

Dollar Rate in Pakistan Today

On Tuesday, the US dollar moved down and was being quoted at 283.6 for buying and 286.65 for selling.

Euro slides down to 309 for buying and 312 for selling. British Pound rate inches up to 360 for buying, and 363.5 for selling.

UAE Dirham AED dropped to 77.50 whereas the Saudi Riyal rate stands at 75.90.

Today's currency exchange rates in Pakistan - 5 December 2023

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar USD 283.6 286.65
Euro EUR 309 312
UK Pound Sterling GBP 360 363.5
U.A.E Dirham AED 77.5 78.2
Saudi Riyal SAR 75.9 76.7
Australian Dollar AUD 187.72 188.22
Bahrain Dinar BHD 757.72 765.72
Canadian Dollar CAD 209 211
China Yuan CNY 39.93 40.33
Danish Krone DKK 41.59 41.99
Hong Kong Dollar HKD 36.46 36.81
Indian Rupee INR 3.42 3.53
Japanese Yen JPY 1.49 1.56
Kuwaiti Dinar KWD 922.11 931.11
Malaysian Ringgit MYR 60.97 61.57
New Zealand Dollar NZD 175.89 177.89
Norwegians Krone NOK 26.68 26.98
Omani Riyal OMR 740.01 748.01
Qatari Riyal QAR 78.27 78.97
Singapore Dollar SGD 211 213
Swedish Korona SEK 27.45 27.75
Swiss Franc CHF 327.65 330.15
Thai Bhat THB 8.16 8.31

Gold Rates in Pakistan - Check today gold price - 5 December 2023

The gold remained under pressure in Pakistan amid a huge drop in price of the precious metal despite in the international market.

Gold Rates in Pakistan Today - 5 December 2023

On Tuesday, the price of a single tola of 24-karat gold stands at Rs218,500 and 10 grams of 24k gold costs Rs187,330. 

Single tola of 24 karat is Rs218,500, 22 Karat Gold costs Rs200,290, rate of 21 karat gold stands at Rs191,190 whereas 18k gold rate is Rs163,875.00 for each tola.

In the global market, gold saw huge drop in price, coming down to $2037 per ounce after drop of $81.79.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 218,500 PKR 2,720
Karachi PKR 218,500 PKR 2,720
Islamabad PKR 218,500 PKR 2,720
Peshawar PKR 218,500 PKR 2,720
Quetta PKR 218,500 PKR 2,720
Sialkot PKR 218,500 PKR 2,720
Attock PKR 218,500 PKR 2,720
Gujranwala PKR 218,500 PKR 2,720
Jehlum PKR 218,500 PKR 2,720
Multan PKR 218,500 PKR 2,720
Bahawalpur PKR 218,500 PKR 2,720
Gujrat PKR 218,500 PKR 2,720
Nawabshah PKR 218,500 PKR 2,720
Chakwal PKR 218,500 PKR 2,720
Hyderabad PKR 218,500 PKR 2,720
Nowshehra PKR 218,500 PKR 2,720
Sargodha PKR 218,500 PKR 2,720
Faisalabad PKR 218,500 PKR 2,720
Mirpur PKR 218,500 PKR 2,720

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