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U.S. ban on China's ZTE lifted


By Karen Freifeld(Reuters) - The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp, allowing China's second-largest telecommunications equipment maker to resume business.The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. bank escrow account as part of a settlement reached last month.The company was no longer on the Commerce Department's "denied persons list" as of Friday. (Reporting by Karen Freifeld)(This story has not been edited by Business Standard staff and is ...

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First Published: Fri, July 13 2018. 21:42 IST