Connect with us

Hi, what are you looking for?


NYSE ousts Chinese telecom giants

The New York Stock Exchange (NYSE) has decided to delist three Chinese telecommunication companies on the basis of claimed links with the military.

The telecom giants China Unicom Hong Kong, China Telecom, and China Mobile have been targeted by the Trump administration.

The shares of the aforementioned companies will be suspended in the upcoming week as the proceedings for the suspension have already commenced.

Trump also targeted Huawei, TikTok, and Tencent

The firms made all their revenue from home and their presence in the US is of little significance. The suspension is a more symbolic blow amidst geopolitical tensions between the US and China.

The shares of the firms are thinly traded in the US compared to their primary listings in Hong Kong. Since the companies are state-owned, therefore dominate the telecoms industry in China.

President Donald Trump signed an order in November prohibiting American investments in Chinese firms owned or controlled by the military.

The order barred US investors from buying and selling shares in a list of Chinese companies designated by the Pentagon as having military ties.

Trump has targeted a number of Chinese companies before including TikTok, Huawei, and Tencent on the grounds of national security.

Our Latest Updates

Health & Education

Division wise, 139 clinics were sealed in Karachi, 100 clinics sealed in Sukkur, 88 in Mirpur Khas, 77 in Larkana and 42 in Hyderabad...


ISLAMABAD: PPP co-chairman Asif Zardari sent 10 billion rupees in a legal notice to Imran Khan for accusing him (AZ) to plan the murder...

Latest Updates

ISLAMABAD: Shahid Khaqan Abbasi resigns from PML-N as Senior Vice President. He has decided to work for the country’s well-being through the forum of...


ISLAMABAD: Islamabad police have installed about 50 more CCTV cameras in different places in the city to enhance vigilance. The capital city police are...