Ivanka Trump among possible World Bank nominees

Ivanka Trump was the driving force behind a $1 billion World Bank fund to promote entrepreneurship by women. (AFP)
Updated 12 January 2019
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Ivanka Trump among possible World Bank nominees

  • Nikki Haley also in the running according to Financial Times report

WASHINGTON: Donald Trump’s daughter and adviser Ivanka and the former UN Ambassador Nikki Haley are among possible US candidates to replace outgoing World Bank President Jim Yong Kim, The Financial Times reported Friday.
Kim abruptly announced Monday he was cutting short his tenure as the bank’s president more than three years before his second term was due to end.
In addition to Trump and Haley, who stepped down as US Ambassador to the United Nations last month, other names being floated include Treasury Undersecretary for International Affairs David Malpass and Mark Green, head of the US Agency for International Development, the newspaper reported.
Ivanka Trump in 2017 was the driving force behind a $1 billion, Saudi-supported World Bank fund to promote entrepreneurship by women.
The Treasury Department told AFP on Friday that it had no comment in potential candidates.
The department has received a “significant number of recommendations,” a spokesperson said.
“We are beginning the internal review process for a US nominee. We look forward to working with the governors to select a new leader.”
Under an unwritten agreement, the United States, which is the bank’s largest shareholder, has always chosen its leader since the institution was founded following World War II.
But the success of a US candidate no longer appears completely assured.
Kim was the first American nominee to face a contested election for the World Bank presidency in 2012 and the bank’s board has said its selection process will be “open, merit-based and transparent,” implying non-US candidates would not be ruled out.
The World Bank Board said Thursday it would start accepting nominations for a new leader early next month and name a replacement for Kim by mid-April.


China’s Huawei books record sales in its smartphone business

Updated 24 January 2019
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China’s Huawei books record sales in its smartphone business

  • Huawei last month flagged that total revenue in 2018 rose 21 percent to $109 billion without providing a breakdown of segment performance
  • Some countries such as the United States and its allies, including Australia and New Zealand, have restricted Huawei’s access to their markets

BEIJING/HONG KONG: China’s Huawei Technologies Co. Ltd. said on Thursday its consumer business sales exceeded a record $52 billion in 2018, on strong demand for its premium smartphones, even as it continued to face heightened global scrutiny of its activities.
The jump of around 50 percent in the technology giant’s consumer business revenue saw that unit replace its carrier business as its largest segment by sales, Richard Yu, the head of the consumer division, said in Beijing.
Huawei last month flagged that total revenue in 2018 rose 21 percent to $109 billion without providing a breakdown of segment performance.
Huawei on Thursday also unveiled its first 5G base station chipset called Tiangang as well as its 5G modem Balong 5000, which it described as the most powerful 5G modem in the world.
Yu said it was the world’s first 5G modem that fully supports both Non-Standalone (NSA) and Standalone (SA) 5G network architecture.
The firm has been using its chipsets in its high-end phones and server products, though it has said it has no intention to become a standalone semiconductor vendor that competes against the likes of Intel Corp. and Qualcomm Inc.
Huawei, the world’s biggest producer of telecommunications equipment, has been facing intense scrutiny in the past year over its relationship with China’s government and US-led allegations that its devices could be used by Beijing for spying. The firm has repeatedly denied the accusations.
Some countries such as the United States and its allies, including Australia and New Zealand, have restricted Huawei’s access to their markets.
The firm’s finance chief Sabrina Meng Wanzhou, also daughter of its founder, was arrested in Canada last month at the behest of the United States.
She has been released on bail but is still in Canada as the United States pursues her extradition on allegations she defrauded banks with Iran-related sanctions. Huawei has denied wrongdoing.