Huawei forecasts slower revenue growth this year, greater uncertainties for 2017

For 2015, Chinese smartphone manufacturer Huawei had reported a revenue growth of 35%. However, for the ongoing year, the company expects the rate to be somewhere around 32%. This was revealed by Eric Xu, Huawei"s chief executive, in a New Year"s message to company employees.
“The year 2016 has seen a flock of black swans – both political and economic – sweep across the globe,” the CEO said. “Nevertheless, we have remained focused on our strategy and have patiently applied ourselves to making breakthroughs and creating real value for our customers.”
The company doesn"t seem too optimistic for the coming year as well. “In 2017, we will face even greater global political and economic uncertainties,” Xu said.
The company recently announced that global shipments of its P9 and P9 Plus smartphones have crossed the 10 million mark, making them Huawei"s first flagship series to hit the milestone.
Via

Read More

Autumn Statement: Government defends post-Brexit vote economy forecasts

Media captionPhilip Hammond opened his Autumn Statement by looking at the UK economic figures. The government has defended economic forecasts in the chancellor"s Autumn Statement after criticism by some pro-Brexit MPs that they are too gloomy.
Philip Hammond quoted Office for Budget Responsibility (OBR) forecasts of more government borrowing and reductions in economic growth after the Brexit vote.
Ex-minister Iain Duncan Smith claimed the OBR “hasn"t got anything right.”
But treasury minister David Gauke said it was right to work on the basis that the OBR forecasts were correct.
Mr Hammond told MPs the UK"s deficit would no longer be cleared by 2020, while the OBR estimated the government would have to borrow an extra £122bn compared with what was forecast in March, with the referendum result accounting for £58.7bn of this.
The Brexit vote meant potential growth in the current Parliament would be 2.4% lower than forecast in March, according to the OBR.
The OBR said pr..

Read More

Autumn Statement: Government defends post-Brexit economy forecasts

Media captionPhilip Hammond opened his Autumn Statement by looking at the UK economic figures. The government has defended economic forecasts in the Chancellor"s Autumn Statement after criticism by some pro-Brexit MPs that they are too gloomy.
Philip Hammond quoted Office for Budget Responsibility (OBR) predictions of increases in borrowing and reductions in economic growth following Brexit.
Ex-minister Iain Duncan Smith claimed the OBR “hasn"t got anything right.”
But treasury minister David Gauke said it was right to work on the basis that the OBR forecasts were correct.
Mr Hammond told MPs the UK"s deficit would no longer be cleared by 2020, while the OBR estimated the UK would have to borrow an extra £122bn compared with what was forecast in March, with the referendum result accounting for £58.7bn of this.
The Brexit vote meant potential growth in the current Parliament would be 2.4% lower than forecast in March, according to the OBR.
The organisation said its for..

Read More