Global Markets: Canada to ban Huawei, ZTE from 5G networks

WINNIPEG – The following is a glance at the news moving markets in Canada and globally.

– The Canadian government announced on Thursday it will not allow Chinese telecommunications companies Huawei Technologies and ZTE access to the country’s 5G wireless networks, citing security concerns. Telecommunication firms in Canada will not be permitted to include any products or services from the two Chinese telecommunications companies in their networks. Providers who already have this equipment installed will be required to cease its use and remove it. Canada is the last member of the Five Eyes intelligence alliance with Australia, New Zealand, the United States and the United Kingdom to either ban or restrict Huawei from its 5G wireless network infrastructure.

– North Korean state media said on Friday that 10 per cent of its population of 26 million have fallen ill due to COVID-19. The country also said 65 people have died, but this is believed to be a severe undercount. The outbreak was believed to have started in late April after a military parade in the capital of Pyongyang. South Korea’s spy agency said that before the outbreak, some North Koreans were already infected with measles, typhoid and pertussis.

– The last heavily wounded Ukrainian fighters who were holed up in the Azovstal steel works plant in Mariupol were evacuated on Friday as Russian forces continued to attack the southeastern parts of Ukraine. The previous day, Ukrainian president Volodymyr Zelensky said that the Donbas region was “completely destroyed”. The Group of Seven (G7) agreed on Thursday to send US$18.4 billion to help Ukraine’s finances, while the United States Senate approved nearly US$40 billion in new aid. U.S. Joint Chiefs of Staff Chairman Mark Milley and Russia’s Chief of General Staff Valery Gerasimov discussed “security-related issues of concern” on Thursday, while Russia’s Gazprom has informed Finland it will cut off its flow of natural gas to the country on Saturday morning.

---

Newsletter Sign Up - Get access to essential information on Canada’s cattle industry daily.

One email delivered 6 days a week for ranchers, feedlots, packers and livestock sales operators.

Your Email(Required)

Your Postal Code(Required)

Consent

I consent to receiving emails from Glacier FarmMedia, its affiliates and divisions and third parties, containing agriculture news, updates and promotions. I can unsubscribe at any time

Comments

This field is for validation purposes and should be left unchanged.