BUSINESS Friday 19 October 2018 PAGE | 18 PAGE | 19 China not manipulating Spain banks tumble as currency but lacks court rules they must transparency says US pay mortgage tax Your Global Remittance Partner Currency TT Rate Currency TT Rate Currency TT Rate Currency TT Rate QAR/INR : 20.08 QAR/PHP : 14.78 QAR/LKR : 46.75 QAR/BDT : 23.15 EUR/QAR : 4.30 GBP/QAR : 4. 87 CAD/QAR : 2.90 AUD/QAR : 2.72 CHF/QAR : 3.79 SGD/QAR : 2.74 KWD/QAR : 12.23 OMR/QAR : 9.55 MAIN BRANCH LULU HYPER MARKET SANAYYA (STREET 17) AL KHOR PH: 44441448 PH: 44650768 PH: 44510088 PH: 44213444 MATAR QADEEM MANSOURA - AL MEERA ABU HAMOUR BIN OMRAN - ALMEERA PH: 44655559 PH: 44357552 PH: 44621271 PH: 44162002 alzamanexchange www.alzamanexchange.com 44441448 Global trade Woqod renews contract wars risk QSE investors’ ‘millions of wealth rises to with QP for next 5 years jobs’: WTO THE PENINSULA AFP QR569.12bn THE PENINSULA DOHA: Qatar Fuel (WOQOD), LONDON: Escalating trade Services sector accounted for the main distributor of retail wars “pose real risks” to the 25.08 percent. Industries sector petroleum products in Qatar, A new agreement global economy, potentially DOHA: Qatar Stock Exchange’s accounted for 15.74 percent and announced yesterday that it has has been recently threatening millions of jobs, (QSE) benchmark index gained Telecoms sector accounted extended the petroleum head of the World Trade 331.48 points, or 3.36 percent, 13.98 percent. products sale and purchase executed Organization (WTO) Roberto last week when the bourse Banking and Financial Services agreement with Qatar embodying the Azevedo warned yesterday. closed yesterday at 10,193.01 sector led traded number of trans- Petroleum (QP) for a further terms, conditions US President Donald Trump points. Trading value during last actions last week with 31.04 percent period of five years expiring on and arrangements is locked in a trade war with week increased by 33.80 of the total number of transactions. September 30, 2023. reached by the China, rolling out billions of percent to reach QR995.85m Industries sector accounted for A new agreement has been dollars in tariffs in a bid to compared to QR744.28m in the 21.10 percent. Real Estate sector recently executed embodying parties in this tackle its trade deficit and rein previous week. accounted for 19.35 percent and the terms, conditions and regard. in what Washington considers Trading volume increased Consumer Goods and Services arrangements reached by the unacceptable Chinese trade by 50.84 percent to reach 31.20 sector accounted for 10.05 percent. parties in this regard. practices. Trump has also tar- million shares, as against 20.69 From the 45 listed companies 35 Woqod Chief Executive Woqod in furtherance of ities, of petroleum products. geted the EU, and WTO director million shares, while the ended last week higher, while Officer Engineer Saad Rashid Woqod undertaking the distri- The supply will be con- general Azevedo told business number of transactions rose by nine fell and one remained Al-Muhannadi (pictured) said bution of petroleum products ducted in line with the highest heads at the Mansion House 59.97 percent, to reach 20,244 unchanged, reports QNA. Woqod is undertaking the sale and gas along with related security, safety, health and speech that there appeared to transactions as compared to QNB led trading value last purchase, marketing, distri- services. environment, and thus support be “no end in sight” to the tit- 12,655 transactions. week accounted for 18.71 bution and transportation of He went on to emphasize our beloved country’s compre- for-tat action, pleading with Market cap rose by 3.17 percent of the total traded value. petroleum products within the that, such confidence and hensive development world leaders to negotiate. percent to reach QR569.12bn as Industries Qatar accounted for local market pursuant to a con- support would certainly prompt endeavors. “A continued escalation of compared to QR551.66bn at the 10.33 percent and Qatar Fuel cession granted by the Gov- Woqod to exert more efforts Al Muhannadi said that tensions would pose real risks,” end of previous week. accounted for 8.55 percent. ernment of Qatar since the year and persistent work in fur- Woqod will fully liaise and he warned.WTO economists Banking and Financial When compared on daily 2003. therance of the provision of its cooperate with Qatar Petroleum calculate that “a complete Services sector led traded value basis, the QSE index gained 35.53 The extension of the services according to the to ensure consistent provision breakdown in international last week with 35.52 percent of points, 0.35 percent, yesterday agreement has been effected to highest specifications and of the requirements of the state trade cooperation would see a the total traded value. Industries compared to Wednesday’s enable Woqod further carry out modern techniques, through the and the local market of sharp rise in tariffs, knocking sector accounted for 24.02 closing. The volume of shares the scope of work entrusted to it. establishment of a modern dis- petroleum products, and other up to 17 percent off global trade percent. Real Estate sector traded decreased to 4.58 million Al Muhannadi expressed his tribution sector comprising sta- accompanying services, in growth, and 1.9 percent off accounted for 13.18 percent and from 7.90 million on Wednesday profound thanks and appreci- tions, distribution and transport accordance with the set pol- overall global economic growth. Consumer Goods and Services and the value of shares decreased ation for the great confidence network and integrated infra- icies, plans and programs, in “These effects would cause sector accounted 13.10 percent. to QR180.62m from QR309.03m reposed on Woqod by the state structure facilities covering and furtherance of the public significant disruptions for Real Estate sector led traded on Wednesday. of Qatar and Qatar Petroleum, supplying the increasing sus- interest, as well as the interest workers, firms, and commu- volume last week with 33.65 From the 47 companies and for the continuous unfailing tainable requirement of the of the company and its nities as they adjust to this new percent of the total traded listed on QSE, shares of 45 support they are providing to state land, air and marine facil- shareholders. reality,” said Azevedo. volume. Banking and Financial saw trading yesterday. Oil falls below $79 on US inventories REUTERS a continuous trend. Week after week, it does start to LONDON: Oil fell more than add up.” Oil had been rising $1 a barrel to below $79 this week on concern about yesterday as the fourth a decline in Iranian exports weekly increase in US crude due to US sanctions and inventories suggested ample tension between the United supply, while Saudi-US States and Saudi Arabia tension and falling Iranian after the disappearance of exports lent support. Saudi journalist Jamal US crude inventories Khashoggi.US lawmakers rose 6.5 million barrels last pointed the finger at the week, the Energy Infor- Saudi leadership over the mation Administration said disappearance of the Saudi on Wednesday, the fourth critic, suggesting sanctions straight weekly increase could be possible. Saudi and almost three times Arabia denies that it had what analysts had forecast. any role in Khashoggi’s Brent crude, the global disappearance. benchmark, was down But President Donald $1.07 at $78.98 a barrel at Trump on Wednesday gave 1330 GMT. It has dropped Saudi Arabia the benefit of almost $8 since reaching the doubt in the journalist’s $86.74, the highest since disappearance, suggesting late 2014, on October 3. US the White House may not crude was down $1.07 at take additional action $68.68. against Saudi Arabia. “Stocks are building,” Signs that Iranian oil said Olivier Jakob, oil exports have been falling analyst at Petromatrix. “It’s more steeply. 18 BUSINESS FRIDAY 19 OCTOBER 2018 China not manipulating currency MarketWatch but lacks transparency, says US QSE FTSE100 DOW BRENT AFP 10,193.01 7,041.88 25,573.32 $69.01 of China.” In Wednesday’s been limited this year,” it added, report, the Treasury also said with net interventions by the +35.53 PTS -12.72 PTS -133.36 PTS -0.74 WASHINGTON: The United Germany, India, Japan, South People’s Bank of China “effec- 0.35% 0.18% 0.52% Dow & Brent before going to press States has again declined to call Korea and Switzerland remained tively neutral.” During the World China a currency manipulator on a “monitoring list” of coun- Bank-International Monetary but said the yuan’s fall and tries whose currency practices Fund’s annual meetings last Beijing’s exchange practices required “close attention.” week, Mnuchin said he had held Further US rate were of “particular concern.” In Washington has long argued constructive talks with PBOC putting Beijing and five other US Beijing keeps its currency arti- Governor Yi Gang. trading partners on notice, the ficially low to make its exports A growing US economy and hikes ‘most likely’ US Treasury once more more competitive. falling unemployment have also weaken its currency. refrained from escalating a fight In recent years, however, whipped up demand among US Labelling China a manipu- over China’s currency as US the yuan or renminbi (RMB) has consumers for imported goods, lator would be a fresh sign of needed, says Fed President Donald Trump had strengthened and economists with 2017’s record US-China confrontation from Washington AFP once pledged to do on the now say it is more in line with trade deficit continuing to widen but any actual repercussions Further rate hikes “would campaign trail.