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U.S. eases restrictions on Huawei; founder says U.S. underestimates Chinese firm

13 Sept 10:41 Key points summarised by AI

The U.S. Commerce Department temporarily eased trade restrictions on Huawei for 90 days, allowing the Chinese firm to maintain existing telecom networks and provide software updates to current smartphones.
Huawei founder Ren Zhengfei dismissed the reprieve, stating the company was already prepared for U.S. actions and believes the U.S. government underestimates Huawei's capabilities.
The temporary license aims to prevent disruption for telecom operators and existing Huawei mobile users, though it still prohibits the company from buying American-made hardware and software for new products.
The broader U.S. ban on Huawei stems from national security concerns and allegations of bank fraud, leading to companies like Google suspending certain services to the Chinese firm.
U.S. industry groups express concern over potential significant export losses and job threats for American firms due to the stringent controls, advocating for further easing of restrictions.

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.