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World Economy Economic Organizations

  • *Oil reverses loss, marks strong week in wake of OPEC deal. NEW YORK, Dec 2- Bond yields fell on Friday as solid U.S. jobs data reinforced the view that the Federal Reserve would raise interest rates gradually, while stock and currency markets were cautious ahead of an Italian constitutional reform vote on Sunday. Crude futures rebounded on a weaker dollar, resuming a...

  • WARSAW, Dec 2- The European Union might fill a void in global trade left by the United States if the world's biggest economy becomes more inward-looking with Donald Trump as president, EU Trade Commissioner Cecilia Malmstrom said on Friday. "I think the EU has a possibility to fill the void," she told a congress of the Alliance of Liberals and Democrats for Europe...

  • MEXICO CITY, Dec 1- Mexican Central Bank Governor Agustin Carstens will stand down in July, a move that adds doubts about the direction of Latin America's No. 2 economy following the election of Donald Trump as U.S. president. He ran unsuccessfully in 2011 to head the International Monetary Fund, losing to France's Christine Lagarde. Carstens also said that the...

  • NEW YORK, Dec 1- U.S. President-elect Donald Trump's policies would fuel higher inflation. Brent crude prices built on Wednesday's gains with a more than 3 percent jump a day after OPEC and Russia agreed to restrict output.

  • *UK factories grappling with strong cost pressures- PMI. Thursday's Markit/CIPS UK Manufacturing Purchasing Managers' Index also suggested the weak pound failed to boost exports by as much as in previous months. Wednesday's 10 percent surge in crude oil prices- after OPEC and Russia agreed to restrict production- pushed the dollar cost of oil close to levels...

  • LONDON, Dec 1- Germany led euro zone government bond yields higher on Thursday as the first output cut by major oil producers since 2008 triggered a surge in oil prices and boosted expectations of higher inflation. But for now, a deal by the Organization of the Petroleum Exporting Countries and Russia to reduce output to drain a global supply glut grabbed the...

  • *Spot gold was mostly unchanged at $1,172.24 an ounce by 0046 GMT. *The U.S. dollar was broadly firm, hitting 9-1/ 2 month highs against the yen as oil prices surged after OPEC agreed to output cuts- lifting inflation expectations and U.S. bond yields. *With the U.S. economy making good progress toward full employment and inflation heading toward the Fed's 2- percent...

  • *OPEC deal boosts inflation expectations. OPEC member Algeria was proposing to set a new production ceiling at 32.5 million barrels per day, down from current levels of 33.6 million. "I think most of the move this morning was related to the OPEC news, speculation about a production cut and the increase in oil prices and as a result inflation expectations as well,"...

  • BRUSSELS, Nov 29- The European Commission should focus on enforcing European Union budget rules rather than proposing fiscal stimulus, the chair of the Eurogroup of euro zone finance ministers said on Tuesday, in remarks that echo Germany's position on tight spending. The Commission proposal was meant to stimulate more spending by Germany, the euro zone's...

  • JOHANNESBURG- South African Finance Minister Pravin Gordhan will engage business leaders in a closed pre- World Economic Forum meet- 0800 GMT. STOCKHOLM- Riksbank Deputy Governor Martin Floden talks about monetary policy and the economic situation- 0735 GMT. BERLIN- German Chancellor Angela Merkel, World Bank Group President Jim Yong Kim, German Finance...

  • PARIS, Nov 28- Global growth will pick up faster than previously expected in the coming months as the Trump administration's planned tax cuts and public spending fire up the U.S. economy, the OECD said on Monday, revising up its forecasts. The OECD was slightly less pessimistic about Britain's outlook than it was in September, as the central bank has helped ease the...

  • PARIS, Nov 28- Global growth will pick up faster than previously expected in the coming months as the Trump administration's planned tax cuts and public spending fire up the U.S. economy, the OECD said on Monday, revising up its forecasts. The OECD was slightly less pessimistic about Britain's outlook than it was in September, as the central bank has helped ease the...

  • PARIS, Nov 28- The following are the latest growth forecasts for major economies released by the Organisation for Economic Cooperation and Development on Monday. Forecasts are for annual percentage changes in real gross domestic product; figures in brackets represent the difference from the OECD's last projections in September. 2016 2017 2018 World 2.9 3.3...

  • DUBLIN, Nov 25- After a year of huge shocks to the market, investors' nerves will be tested twice more in the coming week as OPEC debates an oil output cut and Italy provides the first of several upcoming major European electoral tests. By far the greater unknown of the two, investors fear Italy could be plunged into political uncertainty if pro-euro Prime Minister...

  • TBILISI, Nov 24- The International Monetary Fund forecasts Georgia's gross domestic product will grow 2.7 percent in 2016 and by 4 percent in 2017, the IMF said on Thursday. The IMF had earlier predicted 3.4 percent growth in Georgia in 2016 and 5.2 percent in 2017, although its representative told Reuters earlier this month that its forecasts could be...

  • TBILISI, Nov 24- The International Monetary Fund forecasts Georgia's gross domestic product will grow 2.7 percent in 2016 and by 4 percent in 2017, the fund said on Thursday. "The Georgian economy has shown resilience and continues to recover from the external shock, although at a slower pace than initially envisaged," the IMF said in a statement after the Fund's...

  • *Canadian dollar ends at C $1.3496, or 74.10 U.S. cents. The loonie hit its weakest in eight months last week at C $1.3589, but recovered some ground in recent days as oil rallied on hopes of a supply cut at an upcoming meeting of the Organization of the Petroleum Exporting Countries. Divergence between U.S. and Canadian monetary policy and economic growth will drive...

  • BERLIN, Nov 23- Euro zone finance ministers and IMF officials are not planning to meet on Friday in Berlin to discuss Greece's bailout, a spokeswoman for the German finance ministry said on Wednesday. On Tuesday, the Sueddeutsche Zeitung had reported that ministers from Germany, France, Italy, Spain and the Netherlands would meet officials from the...

  • MEXICO CITY, Nov 22- Mexico is facing risks to its growth from trade protectionism, the International Monetary Fund said on Tuesday, as it cut its growth forecast for the coming years for Latin America's No. 2 economy. President-elect Donald Trump has threatened to tear up the NAFTA trade deal and impose tariffs on Mexican-made goods. Mexico's central bank has...

  • LISBON, Nov 22- When international creditors released Portugal from onerous loan conditions two years ago, they hailed the nation for some major reform achievements- not least, an overhaul of the judiciary. The International Monetary Fund applauded Lisbon for reforming a dysfunctional court system which had been a brake on the economy. And with the European...