A BRIEF INITIATION OF RECENT TARDE WAR:

2018 China-United States trade war refers to tariffs and counter-tariffs between the U.S. and China. On 6 July 2018 U.S. President Donald Trump imposed tariffs putting a 25 percent border tax on $34 billion worth of the total China exports to the United States. Which then affected China to respond with similarly sized tariffs on U.S. products.

However, the list was cut down to 818 product categories worth US$32 billion in exports. The second tranche of 284 goods, valued at US$16 billion, bringing the total closer to US$50 billion, will be targeted after an additional process of review. Beijing would hit back with tariffs on nearly US$30 billion in US goods. To get more knowledge about Stocks Market News Today.

Former Malaysian Prime Minister, Najib Razak, was arrested on Tuesday. He was taken to the Malaysian Anti-Corruption Commission (MACC) headquarters in Putrajaya. MACC’s investigation is focused on how RM42 million (US$10.6 million) went from SRC International into his bank account. SRC International was created in 2011 by Najib’s government to pursue overseas investments in energy resources.

1MDB, founded by Najib in 2009, is currently being investigated in at least six countries which for claimed money fraud and laundering. Civil actions filed by the US Department of Justice mention that nearly US$4.5 billion from 1MDB had been cleaned. Furthermore, on Monday, the 1MDB special task force, that was set up for this case, announced that more than 400 bank accounts involving RM1.1 billion of funds from individuals, political parties and other non-government organizations were frozen. Get free Stocks Picks here.

A new S$80 million passenger terminal will open at Seletar Airport in December this year. This will provide additional free space for Singapore’s private and business jet traffic, at Changi Airport. The new facility is six times bigger than the current terminal and is designed to handle up to 700,000 passengers a year. The departure area will have four check-in counters, six entrance ways, two security screening stations and one gate hold room with a 200-passenger capacity.

Monetary Authority of Singapore chief, Ravi Menon, said that GDP in Singapore is expected to grow by 2.5 to 3.5% in 2018, unchanged from an earlier official forecast released in May. A two-sided trade war between the United States and China indirectly contributes about 1.1% of Singapore’s GDP. Flows between the US and European Union add another 0.5%, while trade between the US, Canada, and Mexico contribute 0.6%.

Finally,  Singapore dollar lending stood at S$668 billion in May, 0.1% up from April. The pace of growth was slower than April’s 0.8% increase, due largely to a slower growth in business loans. Business lending crawled up 0.1% in May compared to 1.2% in April. Consumer lending in May increased 0.1% to S$265 billion, while in April, the increase was 0.3%. On a yearly basis, bank lending in May rose 5.5%.