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August, 24, 2016

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Business > Global Markets
Oil prices eased in Asia Monday as an increase in U.S. drilling activity and a strong dollar reversed gains from last week's better-than-forecast U.S. jobs report.
 
G-20 nations pledge to boost trade despite protectionism
The world's top 20 economies will work to boost sluggish global trade despite growing protectionism, overcapacity concerns, and uncertainty over Brexit, G-20 trade ministers said Sunday at a meeting in Shanghai.
 
Many workers at risk of being replaced by robots
Automation could replace many jobs in the region in the coming years but such technological advances will also make it even harder for local firms to find high-skilled staff to operate the new equipment, according to a new report.
 
India's Modi meets Zuma on Africa tour
PRETORIA - Indian Prime Minister Narendra Modi took his Africa tour to South Africa on Friday, seeking to boost trade between two countries that he said "shared values, suffering and struggles".
 
European stocks were mostly higher Friday as economic fundamentals returned to the fore, with all eyes on a U.S. jobs report expected to give clues on American interest rate policy.
 
The U.S. dollar slipped against the yen and euro Friday ahead of a U.S. jobs report that will offer clues on what is in store for U.S. monetary policy, while jittery investors sold emerging market currencies.
 
Oil prices rebounded Friday after tanking nearly 5 percent the day before as bargain hunters swooped into the market. The commodity plunged Thursday in response to U.S. commercial inventories falling less than expected last week, indicating softer demand in the world's top oil consumer as the summer driving season kicks in.
 
Signals from the Federal Reserve that U.S. rates will stay on hold boosted stocks and offered the British pound some much-needed respite Thursday following several days of Brexit-related losses.
 
Oil prices rose in Asia Thursday, tracking a broad advance across equity markets, as the dollar weakened and after private data showed another drop in U.S. inventories.
 
The pound dove to a 31-year low under US$1.28, bond yields were squeezed and equities hammered as the growing shadow of the Brexit vote over the global economy sent traders fleeing to safety.
 
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