(14:12) Beijing, Sep 12 (IANS) Amid the US-China trade war, a top executive of Chinese technology giant Huawei has said that the US needs to hold talks with the company in order to reach a trade deal with China. As per news portal GizmoChina’s report, the company’s Chief Security Officer Andy Purdy said, “Can I imagine a trade deal where the U.S. government doesn’t agree to talk to us? No I can’t.” Purdy noted that the trade war between the two is affecting American companies and workers more than it hurts Huawei. He said the company spent $11 billion on U.S. supplies last year and an estimated 40,000 U.S. jobs depend on its business. Huawei wants “transparent mechanisms” for evaluating its equipment and that of its competitors, which would build “trust through verification,” Purdy said. “We are not asking we should simply be allowed to sell without any scrutiny, we believe there has to be scrutiny for everyone,” he added.
PRINCE GEORGE, B.C. – A British Columbia Conservative member of Parliament says the memory of his stricken wife’s face as a medical crisis nearly killed him is his motivation for a heartfelt message to his colleagues, constituents and all Canadians.Todd Doherty, the MP for Cariboo-Prince George, says in a Facebook post he needed emergency surgery to remove his gallbladder after becoming ill in Prince George on Jan 20.He says he stopped breathing during the surgery and over the next two days his lungs filled with fluid and his major organs began shutting down.Through all that, despite the drugs and the chaos, he says he remembers his son pleading to be allowed to donate a kidney or lung to help his dad pull through.Doherty is on the mend now but says he has learned the lesson that plans, no matter how carefully crafted, will fail if the planner isn’t around to carry them out.He is out of hospital, recovering at home, and urges people to take time to care for themselves and do the work necessary to stay healthy.“Regardless of the titles or status we seek or achieve, our schedules or whatever demands placed on us, remember this: There is only one group who will mourn you longer than a week, that’s your family,” Doherty says in the social media post.He says he still wants to achieve his goal of backing legislation to help sufferers of post-traumatic stress disorder. He also pledges to never stop trying to inspire others, and be the best father, husband, brother, friend and community leader possible.Doherty says even his loftiest goals are now filtered through a different perspective.“I don’t have the plan as to how I’m going to do it yet, but I know I have too much on my “to do list,” so healthy changes are coming. And I’m challenging my friends, family and colleagues to do whatever you need to do to make this a priority in your lives, also.”Doherty says he’s giving thanks, and will never put his family through this again.He says you can’t help others if you’re not well yourself.“So to my colleagues in Ottawa — who’s up for some early morning walks and workouts?”
Toyota Kirloskar Motor (TKM), the Indian subsidiary of Toyota, will showcase its much-hyped Etios Cross at the upcoming Auto Expo 2014 in New Delhi.The vehicle, which was unveiled in Brazil and Argentina in November, has been spotted testing on Indian roads for quite some time. The car – a restyled version of Toyota Etios Liva hatchback – will come powered by the same the 1.4 liter, 68 bhp diesel engine or the 1.5 liter, 89 bhp petrol engine. According to reports, the car is based on the Etios Liva though the exterior flaunts an overhauled look.The Etios Cross looks sportier than the Etios Liva and is expected to come with features like a new front bumper and diamond cut 10-spoke alloy wheels. When launched, the vehicle will take on the likes of Volkswagen Polo Cross and Fiat Punto Cross.Meanwhile, Toyota has launched two new variants of its premium hatchback Etios Liva, dubbed VD and VD SP. Previously Etios was available in four variants – JD, GD, GD Safety Package (SP) and TRD Sportivo.Toyota Etios Liva VD comes at a price of Rs. 6.72 lakh, while the VD SP variant is priced at Rs. 7.12 lakh. The engine specifications of both models remain the same as 1.4-litre motor which can churn a power of 67 bhp with peak torque of 170 Nm.The Auto Expo 2014 is speculated to see the unveiling of around 20 new cars. Auto majors like Maruti Suzuki, Hyundai, Volkswagen, Ford, Audi, Chevrolet, Nissan, BMW, Honda, Toyota, Jaguar Land Rover, Volvo and Mercedes-Benz are all said to be getting ready to dazzle at the event.
Shares of Dr Reddy’s Laboratories (DRL) plunged by almost 3.50 percent on the BSE on Tuesday after the company reported lower-than-expected revenues and net profit for the third quarter ended 31 December, 2015. The Hyderabad-based company reported consolidated net profit of Rs 579.20 crore for the third quarter, a marginal increase from Rs 574.50 crore in the year-ago period. The company’s net profit was hit due to a foreign exchange loss of Rs 63.70 crore on account of “increasing risk of currency devaluation” in Venezuela, the company said in a regulatory filing to the BSE. Moreover, Dr Reddy’s Lab said that the impact could spill over to its March quarter earnings as well. Consolidated revenues of the company stood at Rs 3,967.90 crore, up 3.24 percent from Rs 3,843.10 crore.An average of estimates by analysts in a CNBC-TV18 poll had pegged the net profit at Rs 648.34 crore and revenues at Rs 4,007 crore. The company’s domestic sales and US sales were likely to record growth but the one-time write off due to devaluation of stocks in Venezuela and Russia was expected to hit net profit.Brokerage firm Angel Broking had estimated net profit of Rs 746 crore and revenues to come at Rs 4,420 crore.The company said it is evaluating its current arrangements with the Venezulean government to facilitate the payments related to import of pharma products at the CENCOEX preferential rate 6.3 VEF per US dollar. “The company will fully consider all the developments facts and circumstances during the three months ending 31 March, 2016, in evaluating the appropriate translate rate to be applied. If the facts and circumstances support a conclusion that the CENCOEX rate is no longer appropriate, it could have a significant impact on the consolidated financial statements of the company,” it said. In its analysis of the results, Angel Broking said, “The lower than expected sales performance is on back of the Emerging market (Rs 639.9 crore) which dipped by 28.0% YoY. Russia with sales of Rs 310 crore declined by 21% YoY, on back of deprecation of rubble.””The key regions — USA (Rs 1941.7 crore) posted a robust growth of 18% YoY, Europe (Rs 194 crore) posted a YoY growth of 14% and India did sales of Rs 581crore, a YoY growth of 34% (aided by the UCB acquired brands). Overall generic segment posted a sales growth of 7% YoY, while PSAI segment posted a sales de-growth of 17%,” the brokerage said. Shares of Dr Reddy’s Lab were trading at Rs 2,966.50 at around 2.20 pm, down 3.39 percent from its Monday close.