China's telecoms giant Huawei refutes Australian cyber fears

China's telecoms giant Huawei refutes Australian cyber fears

Telecommunications equipment maker Huawei has criticized Australian Government for its claim that the Chinese firm is a security risk to Australia.

Australian Government recently blocked Huawei from bidding on its ambitious $36 billion-dollar National Broadband Network (NBN) project due to China's reputation for cyber-espionage.

Huawei, which was set up by a former People's Liberation Army engineer, was blocked from bidding after intelligence operatives strongly recommended the government's National Security Committee to do so.

But Huawei's Australian chairman John Lord dismissed the cyber fears, saying, "Huawei is not a security risk to Australia. I was very confident when I took up the appointment. I am committed to Huawei."

Australia's longest-serving top diplomat, Downer, said any fears about Huawei being a security risk were complete nonsense and absurd.

Beijing also dismissed Australia’s cyber allegations against Huwaei, describing the fears as groundless.

In 2011, Chinese intelligence agents hacked Australian Prime Minister Julia Gillard’s as well as the then-Foreign Minister Kevin Rudd’s computers.

The U. S. defense & intelligence have long been warning the world of China's involvement in industrial espionage.


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BMC urges traders to call off strike over LBT issue

BMC urges traders to call off strike over LBT issue

The Brihanmumbai Municipal Corporation (BMC) on Thursday urged traders to call off their strike in opposition of local body tax (LBT), stressing that it was open for discussions over the issue.

Municipal Commissioner Sitaram Kunte said that the traders' stir against LBT, which entered the 26th day, was causing a big inconvenience to the citizens.

Speaking on the topic, Kunte said, "The Mumbai Municipal Corporation Act, 1888 needs to be amended to introduce LBT in the city. We are still drafting amendments to the Act and rules based on which it would be executed."

India’s demand for gold jumps 27% in Q1 of 2013

India’s demand for gold jumps 27% in Q1 of 2013

While the global demand for gold declined 13 per cent in Q1 of this year, India's demand for the precious yellow metal jumped 27 per cent year-on-year, according to latest figures released by the World Gold Council
(WGC).

Indians' demand for jewellery jumped 15 per cent year-on-year to 159.5 tonnes in the first quarter of 2013, while investment demand climbed a whooping 52 per cent to 97 tonnes.

China reported gold demand growth at 27 per cent. Therefore, India's demand growth for the yellow metal surpassed China's demand growth by 7 per cent.