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Oil price rises above $80 a barrel

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Oil prices have risen in Asia as signs suggest a boost in fuel demands following news concerning economic growth in the US and in the emerging Asian markets.

A fall in the US dollar was another reason behind the rise in crude prices in Asian markets to above $80 a barrel on Monday, as a weaker dollar makes the commodity cheaper to holders of other currencies.

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WTO: World trade hit by 12% in 2009

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Head of the World Trade Organization (WTO), Pascal Lamy, says 2009 was the worst year for global business in the past 65 years.

Lamy told a think tank in Brussels that world trade dropped by 12 percent last year due to the global economic meltdown.

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WTO: World trade hit by 12% drop in 2009

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Head of the World Trade Organization (WTO) Pascal Lamy says 2009 was the worst year for global business in the past 65 years.

Lamy told a think tank in Brussels that world trade dropped by 12 percent last year due to the global economic meltdown.

Read more...