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August, 25, 2016

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Business > Global Markets
Kim to seek second term as World Bank chief
World Bank chief Jim Yong Kim will seek a second term of office, the global development lender said Tuesday as it announced the start of a selection process for the presidency.
 
The U.S. dollar rose Wednesday with the Federal Reserve's policy plans in focus, while the South Korean won fell after the North tested a submarine-launched missile, bringing geopolitical tensions back into focus.
 
Oil fell in Asia Wednesday on oversupply fears, after data showed an increase in U.S. crude stocks, and as traders took advantage of a recent rally to book profits.
 
Energy firms sank in Asian trade on Tuesday as oil prices extended the previous day's sharp losses due to profit-taking after a recent rally and fresh worries about a global oversupply.
 
Domestic demand gives boost to Asian economies
Loose monetary policy should support growth in Asia in coming months, economists say, but regional growth is likely to be negatively affected by a slowdown in China and possible Brexit fallout.
 
The U.S. dollar rose Monday in Asian trade on renewed hopes for a possible U.S. rate hike this year following hawkish comments from the vice chairman of the Federal Reserve.
 
Oil prices eased in Asia Monday, ending a seven-day rally, following news that Iraq will boost crude exports, while the dollar strengthened on speculation the Federal Reserve could hike interest rates this year.
 
Businesses cash in on 'Pokemon Go'
"Pokemon Go" has sent millions of people onto the streets in a worldwide hunt for virtual monsters -- and from neighborhood restaurants to multinational corporations, businesses smell a profit.
 
European stock markets slid Friday as traders booked profits in the absence of key data heading into the weekend pause, analysts said.
 
The U.S. dollar rose against most Asian currencies Friday but its gains were capped by doubts about the chances of a U.S. interest rate hike this year.
 
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