Business NewsPresident Donald Trump is directing the US Trade Consultant to arrange new tariffs on $200bn in Chinese imports as the nations transfer nearer to a potential trade war. Total property of Islamic banks and windows in Oman reached to RO4bn mark as of the tip of March 2018, accounting for 12.four per cent of whole banking system belongings in the sultanate.

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Dr Ali bin Azan al Hashami, deputy secretary of the true estate registry on the Ministry of Housing, mentioned that the worth of traded contracts in Oman’s actual property sector exceeded RO256mn by the tip of Might this year. The collected charges from real property transactions stood at RO8.34mn during the first five months of 2018, he mentioned.

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Shares dived in Hong Kong and Shanghai as buyers fret over a potential trade battle between the US and China after Donald Trump threatened fresh sanctions, sparking warnings of retaliatory measures by Beijing. Domestic foreign exchange market sentiment succumbed to bouts of strain on revival of fresh global commerce battle fears and issues about possibility that the antagonistic US commerce coverage can have a considerable impression on the Indian economy.

Hong Kong and Shanghai stocks have led a sell-off throughout Asian and European markets on rising trade warfare fears after Donald Trump threatened recent tariffs on Chinese imports. Markets react negatively after Donald Trump cancels his lengthy-awaited assembly with North Korean chief Kim Jong-un.

The rupee on Friday edged larger to 68.15 in opposition to the US dollar, extending its recovery after falling to 18-month low sixty eight.42 on Wednesday. Despite the transient recovery, the rupee isn’t far away from its all-time low of 68.87 vs US dollar, recorded in November 2016. Moreover outflows from domestic capital markets, a rising greenback and a surge in international crude costs have weighed on the rupee. The rupee is down over 6 per cent against the US dollar so far this yr. Forex advisory firm IFA International says that the potential of rupee heading in the direction of 70 per dollar is growing. There’s a still room for additional depreciation from current levels, it adds.

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