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World Economy Economic Organizations

  • 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...

  • 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...

  • BRUSSELS, Dec 8- An EU-Canada free trade deal will destroy jobs in Europe and should be rejected, a committee of the European Parliament concluded on Thursday. The European Union and Canada signed the Comprehensive Economic and Trade Agreement in October, but only after hesitation in Austria and other countries and opposition from a region of Belgium.

  • AMSTERDAM, Dec 8- The Dutch economy will grow at around 2 percent this year and next year, International Monetary Fund experts said on Thursday. IMF Netherlands Mission Chief Thomas Dorsey said at a news conference after a visit that external risks to the trade-dependent Dutch economy were balanced by strong domestic demand that may not be fully accounted for...

  • Jean-Claude Trichet, ECB president between 2003 and 2011, who oversaw the global financial crisis and the start of the euro zone debt crisis, said elections in France, Germany and the Netherlands next year should not deal a killer blow to support for the monetary union. On the sidelines of an event in London, Trichet said Austria's decision on Sunday to choose a...

  • LONDON, Dec 6- Britain will most likely leave the European Union having signed a bilateral trade agreement, according to a Reuters poll of economists on Tuesday that also suggested there remains little chance of the country slipping into recession. Since the June 23 decision to leave the EU, Britain's economy has performed much better than had been previously...

  • *Brent crude slipped 0.3 percent to $54.80, its first decline in five days as output rose in every major region despite plans by OPEC and Russia to cut production. *U.S. stocks have climbed since the Nov. 8 election, fueled by expectations of significant economic stimulus and cuts in corporate taxes and regulations under President-elect Donald Trump.

  • BRUSSELS, Dec 5- Euro zone finance ministers hope to reach a compromise on Greek reforms on Monday in a final bid to get International Monetary Fund support for its bailout programme by the end of the year. Greece is required by its euro zone creditors to pass wide-ranging reforms and sell state assets under an 86 billion euros bailout programme, but negotiators...