World Economy Economic Organizations

  • GENEVA, Jan 12- The ranks of the world's jobless are expected to grow this year due to slow growth, political and economic uncertainty and a lack of investment, the International Labour Organization said on Thursday. Unemployment is rising in major emerging economies, especially those reliant on commodity exports such as Russia, South Africa and Brazil, the...

  • BRUSSELS, Jan 12- A planned EU-Canada free trade deal received backing from a committee of the European Parliament and Germany's top court on Thursday, increasing its chances of entering force later this year. The European Union and Canada signed the Comprehensive Economic and Trade Agreement in October, but only after opposition from a region of Belgium and...

  • President of the United States, Barack Obama

    The Obama administration is expected to launch a complaint against Chinese aluminum subsidies with the World Trade Organization on Thursday, a person familiar with the matter said.

  • The complaint will likely add to rising trade tensions between the world's two largest economies as President-elect Donald Trump prepares to take office next week with pledges to reduce U.S. trade deficits with China as a top priority. China has rapidly expanded its aluminum production capacity in recent years and currently produces more than half the...

  • WASHINGTON, Jan 10- The World Bank on Tuesday said global growth would accelerate slightly as recovering oil and commodity prices ease pressures on emerging-market commodity exporters and painful recessions in Brazil and Russia come to an end. "After years of disappointing global growth, we are encouraged to see stronger economic prospects on the horizon,"...

  • CAIRO, Jan 10- Annual consumer price inflation in Egypt's cities soared to a second straight eight-year high in December, hitting 23.3 percent on the back of the government's decision to float the pound, effectively halving its value. Those moves were required to secure a $12 billion International Monetary Fund loan. "Egypt now is in the eye of the policy...

  • CAIRO, Jan 10- Annual consumer price inflation in Egypt's cities soared to a second straight eight-year high in December, hitting 23.3 percent on the back of the government's decision to float the pound, effectively halving its value. Those moves were required to secure a $12 billion International Monetary Fund loan. "Egypt now is in the eye of the policy...

  • BRUSSELS, Jan 9- Immigration has a generally positive economic impact on receiving countries but the benefits depend on how well the migrants are integrated, the International Monetary Fund's First Deputy Managing Director David Lipton said on Monday. Europe is struggling to contain a migration crisis started in 2015 when more than a million people entered...

  • ACCRA, Jan 8- Ghana President Nana Akufo-Addo is likely to name investment banker Ken Ofori-Atta as finance minister, three sources close to the presidency told Reuters on Sunday. Ghana which exports cocoa, gold and oil is halfway through a three-year $918 million aid deal with the International Monetary Fund to restore fiscal balance to an economy dogged by...

  • Trump, who will formally become President on Jan. 20, has vowed to either scrap or renegotiate the North American Free Trade Agreement, under which Canada sends 75 percent of its exports to the United States. Trump has recently attacked auto manufacturers which plan to expand capacity in Mexico, promising to impose taxes unless they shift production to the...

  • OTTAWA, Jan 3- Prime Minister Justin Trudeau reached out in a video address to the new U.S. Congress on Tuesday to stress how tightly linked the economies of Canada and the United States are, amid fears of a protectionist Trump administration. Canada sends 75 percent of its exports to the United States and could suffer from changes to NAFTA, which also includes...

  • FRANKFURT, Dec 23- The concentration of wealth among the euro zone's richest has increased since the bloc's debt crisis began, with poor families suffering the biggest drop in asset values, a survey released by the European Central Bank showed on Friday. Suffering from waves of recession, the bloc's protracted debt problem has worsened inequalities as states...

  • KIEV, Dec 21- Ukraine's parliament approved a budget for 2017 on Wednesday, raising its chance of securing more aid from the International Monetary Fund under a $17.5 billion loan package. The IMF and other international backers have propped up Ukraine's economy since the country plunged into turmoil in 2014 following the Maidan street protests and the...

  • That threat, combined with various other pledges by Trump to battle Mexico over trade, investment, and jobs have pushed a growing number of companies operating in Mexico to put expansion plans on hold until Trump fleshes out his policies. "We have estimated that if NAFTA were eliminated in its totality- taking into account second-order effects- the GDP fall could...

  • *China says WTO rules mean it merits new treatment from Dec. 11. *U.S. has said no need to treat China as a market economy. BEIJING, Dec 12- China said on Monday it had launched a complaint at the World Trade Organisation over the approach used by the United States and European Union to calculate anti-dumping measures against Chinese exports.

  • A oil truck runs past wind turbines at the Dafancheng Wind Power Plant.

    OPEC has persuaded 11 non-members to cut oil production, a move aimed at draining a worldwide oil glut.

  • *Plans investigation into cast iron from China/ India. *China says WTO rules mean it merits new treatment from Dec. 11. BRUSSELS, Dec 9- The European Union has launched a new investigation into whether Chinese manufacturers are selling steel into Europe at unfairly low prices, angering China which says Europe's steel problems are due to the region's own economic...

  • HELSINKI, Dec 9- The euro zone needs a way to share economic risks through a fiscal mechanism and through capital markets, the head of the euro zone bailout fund said, noting a euro zone budget did not have to entail debt mutualisation or permanent transfers. European Union institutions and governments are re-thinking how the single currency area is organized...

  • BERLIN, Dec 9- A group of business executives has urged the Group of 20 leading economies to resist the temptation to take protectionist measures and to foster international economic cooperation. Germany took over the G20 presidency last week, a platform Chancellor Angela Merkel wants to use to safeguard multilateral cooperation under threat following...

  • BERLIN, Dec 9- A group of business executives has urged the Group of 20 leading economies to resist the temptation to take protectionist measures and to foster international economic cooperation. Germany took over the G20 presidency last week, a platform Chancellor Angela Merkel wants to use to safeguard multilateral cooperation under threat following...