Huawei awaits US nod on resuming use of Android

HUAWEI said Monday it is awaiting guidance from the U.S. Department of Commerce on whether it can resume using Google’s Android mobile operating system on upcoming smartphones.

“We acknowledge President Trump’s comments related to Huawei over the weekend and will wait for guidance from the Department of Commerce but have nothing further to add at this time,” said Tim Danks, Huawei vice president of risk management and partner relations, in response to a reporter’s question about its access to the Alphabet Inc. Android operating system. Over the weekend, U.S. President Donald Trump softened his stance on Huawei and told G20 summit attendees that the United States will allow expanded sales of U.S. technology supplies to Huawei.

Walmart to invest US$1.2b to upgrade logistics

WALMART Inc. plans to invest 8 billion yuan (US$1.2 billion) in China over the next 10 years to upgrade logistics, the U.S. retail giant said on its social media account Monday.

The company will also set up or renovate more than 10 logistics centers in the country. Walmart has been pushing to integrate its retail network in China with the country’s burgeoning “smart retail” movement, as retailers and tech giants cut deals to combine online and high-street shopping.

Benchmark overnight repo rate falls to record low

ONE of China’s main short-term borrowing rates fell to a record low yesterday as demand for cash eased at the start of the month and the financial system remained flush with funds.

Investors are closely watching to see if China’s central bank continues to quietly guide interbank borrowing costs lower to boost the slowing economy. But most market watchers believe the latest softening in rates is due to generous liquidity injected by authorities at the end of June to reduce the risk of a seasonal cash crunch.

China’s two largest shipbuilders plan to merge

CHINA’S two largest shipbuilders are planning to merge, their listed arms said in separate exchange filings yesterday, the latest to join a wave of mergers among State-owned enterprises as the government overhauls the sector.

The move by China Shipbuilding Industry Corp. (CSIC) and China State Shipbuilding Corp. (CSSC), is subject to approvals from related authorities and there are still many details to be ironed out before the proposal can be finalized, the filings showed.