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  • *Iran won't join immediate OPEC production cut- report. NEW YORK, Jan 29- Oil prices retraced early gains in volatile trade, and U.S. crude turned negative on Friday after news Iran would not participate in a possible deal between OPEC and other producing countries to trim output. Russia, a major non- OPEC producer, this week said it could cooperate with the...

  • LONDON, Jan 29- If there were any suggestion that the fears that have gripped stock markets since the start of 2016 were the isolated stuff of paranoid financial investors, that evaporated with Friday's shocking meeting of the Bank of Japan. Instead, first the ECB's Mario Draghi and now the BoJ's Haruhiko Kuroda, stunning economists by cutting interest rates...

  • PAVLISHCHEVO, Russia— For Olga Druganina, Russia's economic turmoil has been a great business opportunity. Four years ago, the former employee at an industrial machines company began to develop her modest farm near Moscow as a business. First came President Vladimir Putin's sanctions on U.S. and European Union food products in 2014, a response to...

  • WARSAW/ BRUSSELS, Jan 29- A new pipeline to double Russian gas flows to Germany will only go ahead if Russia does not cut off Ukraine and eastern European gas flows, German Vice Chancellor Sigmar Gabriel told the Polish government on Friday. During a day-long visit to Poland, Gabriel sought to calm Polish fears, saying he had told Moscow that Nord Stream-2 could only...

  • *Erdogan to visit Chile, Ecuador, Peru. ANKARA, Jan 29- President Tayyip Erdogan heads to Latin America on Sunday with the aim of boosting trade ties as Turkey seeks to diversify away from its traditional export markets in the troubled economies of Europe and the Middle East. Turkey has been slowly strengthening its relationship with Latin America since the late...

  • WARSAW, Poland— Poland's conservative, pro-Catholic government says it plans to help finance a college founded by a controversial priest who also runs Radio Maryja, a station that has been reprimand by the Vatican for fomenting anti-Semitism. Members of the ruling Law and Justice party say they want to earmark 20 million zlotys from this year's budget for...

  • MOSCOW, Jan 29- Russian Deputy Prime Minister Arkady Dvorkovich on Friday played down expectations that Russia could coordinate with OPEC to arrest the fall in oil prices by reducing production, saying the state would not intervene to balance the market. Oil prices have jumped over the past 48 hours after Russian energy officials said they had received...

  • DIARY-Top Economic Events to Feb 11 Thursday, 28 Jan 2016 | 7:01 PM ET

    SAN FRANCISCO- Federal Reserve Bank of San Francisco President John Williams participates in panel before the Commonwealth Club, Bank of America Merrill Lynch Walter E. Hoadley Annual Economic Forecast event- 2030 GMT. PRAGUE- European Commission Vice President Valdis Dombrovskis, Slovak Finance Minister Peter Kazimir, Czech central bank Governor...

  • ST PETERSBURG, Russia/ DUBAI, Jan 28- Russia said on Thursday that OPEC had proposed oil production cuts of up to 5 percent in what would be the first global deal in over a decade to help reduce a glut of crude and prop up sinking prices. It remained unclear whether Russian Energy Minister Alexander Novak was referring to a months old proposal by OPEC members...

  • *China held talks with Russia in November on engine collaboration. SINGAPORE, Jan 29- China has built a potent military machine over the past 30 years but is struggling to develop advanced engines that would allow its warplanes to match Western fighters in combat, foreign and Chinese industry sources said. Western restrictions on arms exports to China prohibit...

  • WEST SIBERIAN OIL FIELDS/ MOSCOW, Jan 28- Russia's oil industry has argued for years that it cannot cut output to support falling global prices for purely technical reasons; in reality it can- as long as it has the political will. Moscow has long ruled out an output cut coordinated with other producers, even during the collapse in crude prices since the middle of 2014.

  • *Iran output increase complicates outlook. ST PETERSBURG, Russia/ DUBAI, Jan 28- Russia said on Thursday that OPEC's largest producer Saudi Arabia, had proposed oil production cuts of up to 5 percent in what would be the first global deal in over a decade to help clear a glut of crude and prop up sinking prices. Russian Energy Minister Alexander Novak said Saudi...

  • MOSCOW— Russians who took out mortgages denominated in a foreign currency are protesting at their banks to demand that the loans be restructured. Groups of a few dozen mortgage holders held protests Thursday at several banks in Moscow and St. Petersburg. President Vladimir Putin's spokesman, Dmitry Peskov, said the Kremlin was following the situation, but...

  • *Iran main challenge in OPEC for any deal- sources. LONDON/ DUBAI, Jan 28- Iran, boosting oil exports after the lifting of sanctions, is talking of a need to recoup its market share, making the OPEC member a challenge to any deal among producers to fix a supply glut, OPEC sources said on Thursday. Iran wants to recover its position as OPEC's second-largest producer behind...

  • BUDAPEST, Hungary— A Hungarian court on Thursday acquitted 15 employees of a company whose burst reservoir in 2010 flooded three towns with toxic red sludge, killing 10 people. A court in the city of Veszprem said the spill, Hungary's worst environmental disaster, had been caused by the collapse of a reservoir wall due to "loss of stability originating in the...

  • The meeting raised the possibility of rare joint action with OPEC, of which Russia is not a member, because of a global oil glut but Kremlin spokesman Dmitry Peskov has said there is "nothing to talk about in a tangible sense" for now. The final decision will lie with Putin but Sechin's input is likely to be crucial as Russia considers acting in tandem with OPEC for the...

  • UPDATE 2-Iran says low oil prices will not last long Thursday, 28 Jan 2016 | 7:07 AM ET

    The pressure on oil-producing nations means balance will be restored in the short term, "Rouhani, whose country is the third-largest producer in OPEC, said at the French Institute of International Relations. Oil futures surged on Wednesday after non- OPEC member Russia indicated there was a possibility of cooperation with the Organization of the Petroleum...

  • Oil producer Azerbaijan in talks for international aid Thursday, 28 Jan 2016 | 6:29 AM ET

    BAKU, Azerbaijan— Representatives from the International Monetary Fund and World Bank arrived in Azerbaijan on Thursday to discuss financial support for the oil producing country's ailing economy. "The World Bank and the IMF are in active dialogue with the government of Azerbaijan, discussing both immediate and longer-term measures in response to the...

  • MOSCOW— The Kremlin says there are no concrete plans to cut oil output in coordination with major producers Saudi Arabia and OPEC. Spokesman Dmitry Peskov told reporters on Thursday that Russia is "actively discussing the instability of oil markets," with Saudi Arabia and OPEC, but, as of yet, there are no conclusions from the talks. Russian Energy Minister...

  • DIARY-Top Economic Events to Feb 10 Wednesday, 27 Jan 2016 | 7:01 PM ET

    THURSDAY, JANUARY 28 HELSINKI- OECD to publish its economic survey of recession-hit Finland in a press conference with Finnish finance minister Alexander Stubb- 0830 GMT. BRATISLAVA- National Bank of Slovakia Governor Jozef Makuch participates in economic conference "Economic development of the Slovak economy expected in 2016", with presentation: The...