Hong Kong led a sell-off in Asian markets during holiday-thinned business Monday as trade tensions burst back on the scene with China and the US swapping fresh tariffs and reports saying Beijing pulled out of planned talks.

The recent optimism in the US economy that saw equities rack up healthy gains over the past two weeks was replaced by fresh concerns about the impact of a standoff between the world's top two economies.

Donald Trump's threatened tariffs on another $200 billion of Chinese imports took effect on Monday, escalating a trade war between the world's top two economies that is clouding the global outlook.

Societe Generale de Banque au Liban (SGBL) signed with the European Bank for Reconstruction and Development (EBRD) a US$ 100 million finance package for the purpose of on lending to small and medium enterprises (SMEs) and to boost cross-border trade helping local businesses access international markets, a press release said on Friday.

Britain's National Crime Agency is probing the activities of UK-based companies linked to a money laundering scandal at Denmark's Danske Bank, it said Friday.

Asian markets enjoyed more gains on Friday, putting them on course to end the week with a flourish as investors looked past the China-US trade row to focus on the booming American economy.

The United Nations Global Compact announced this week ten SDG Pioneers for 2018. Each year, the UN Global Compact celebrates a group of SDG Pioneers —individuals from around the world as who are championing the UN Sustainable Development Goals (SDGs) through their own companies and inspiring others to join the movement. Among the SDG Pioneers selected this year is Khalil Daoud, Chairman & Managing Director of LibanPost.

Turkey, which was last month buffeted by its worst currency crisis in recent years, on Thursday forecast sharply lower growth coupled with persistently high inflation in its new medium-term economic programme.

Norway raised its key interest rate for the first time in seven years on Thursday, as its economy recovers from years of weak oil prices and the ramifications of the 2008 financial crisis.

The central bank raised its key rate by 0.25 points to 0.75 percent, and said a second hike was due again soon.

Bitcoin and other digital currency worth around 6.7 billion yen ($60 million) has been stolen in Japan following a hacking attack, a virtual exchange operator said on Thursday.

Cyprus and Egypt on Wednesday signed an agreement paving the way for the Mediterranean’s first subsea pipeline to carry Cypriot natural gas to the Arab country for re-export to Europe.

"Today’s signing is an important milestone, not only for Cyprus but also the entire eastern Mediterranean region," said Energy Minister George Lakkotrypis after he signed alongside visiting Egyptian Oil Minister Tarek el-Molla.