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  • BRUSSELS, Dec 17- The International Monetary Fund estimates Ukraine needs another $15 billion in financing to withstand an economic crisis but the European Union has only limited capacity to help, European Commission President Jean-Claude Juncker said on Wednesday. Ukraine will need $15 billion in addition to what is already planned, "he told the European...

  • BRUSSELS, Dec 17- The International Monetary Fund estimates Ukraine needs another $15 billion in financing to withstand an economic crisis but the European Union has only limited capacity to help, European Commission President Jean-Claude Juncker said on Wednesday. "Ukraine will need more help. Ukraine will need $15 billion in addition to what is already...

  • EU'S JUNCKER SAYS IMF ESTIMATES UKRAINE NEEDS ANOTHER $15 BILLION IN FINANCING TO WITHSTAND AN ECONOMIC CRISIS, SAYS EU HAS LIMITED CAPACITY TO HELP.

  • European Commission concerned about Russian economy Wednesday, 17 Dec 2014 | 5:18 AM ET

    BERLIN, Dec 17- The European Commission is worried about recent developments in Russia and has no interest in seeing the country's economy hobbled, a Commission official said on Wednesday. "We are all watching the economic developments in Russia with concern," the official said at a briefing in Berlin ahead of a summit of European Union leaders that starts on...

  • Federal Reserve stared down a volatile global economy in October to keep its plans for an eventual interest rate hike on track, and is likely to do so again this week amid plunging oil prices and a potential currency crisis in Russia. According to the Bank for International Settlements, U.S. bank exposure to Russia has fallen from $43 billion at the start of 2013 to...

  • EU promises Greece 'lighter surveillance' Tuesday, 16 Dec 2014 | 7:23 AM ET

    ATHENS, Greece— Greece is on course to end a draconian bailout program in February and switch to "much lighter surveillance," European Union Finance Commissioner Pierre Moscovici said Tuesday. Greece has been given a two-month extension to conclude bailout program negotiations after weeks of deadlocked talks on new cost-cutting measures demanded by the "...

  • TOKYO, Dec 16- The Russian rouble rebounded from record lows on Tuesday after the Russian central bank hiked interest rates to halt a collapse in its currency, while the backdrop of falling oil prices and concerns over global growth supported the safe-haven yen. U.S. crude futures fell 3.3 percent on Monday after OPEC once again said it will not cut oil output...

  • WASHINGTON, Dec 15- Argentina has taken all the required steps so far to revamp its economic data but must still meet one more deadline as it seeks to bring the quality of its statistics in line with global standards, the International Monetary Fund's board said on Monday. The IMF, which requires accurate data to analyze the world's economies, censured Argentina...

  • WASHINGTON, Dec 15- Argentina has taken all the requisite steps so far to revamp its economic data, but it must still meet one more deadline as it seeks to bring the quality of its data in line with global standards, the International Monetary Fund's board said on Monday. The IMF, which requires accurate statistics to analyze the world's economies, censured...

  • Why oil is down by half, what it means for you Monday, 15 Dec 2014 | 12:33 PM ET

    To put that in perspective, that increase alone is more than the production of any OPEC member other than Saudi Arabia. A balance was struck: Increasing supplies from outside of OPEC and from Iraq's recovering oil industry helped meet rising demand around the world as other OPEC supplies waivered. But now those OPEC supplies look more certain despite...

  • Oil plunges again, reaches recession-level depths Friday, 12 Dec 2014 | 6:12 AM ET

    Friday's trigger was a lowered expectation for oil consumption from the International Energy Agency. The benchmark U.S. oil price closed down $2.14 to close at $57.81 a barrel in New York. OPEC said Wednesday that higher production from non- OPEC members and weak global economic growth will reduce demand for its oil to 28.9 million barrels a day next year.

  • Oil closes below $60, 1st time since July 2009 Thursday, 11 Dec 2014 | 3:03 PM ET

    The price of oil fell below $60 for the first time since July 2009 on Thursday and ended trading in New York at $59.95. The drop is a result of rising global oil production, especially in the U.S., at a time when demand has weakened because of slowing economies in Asia and Europe. OPEC said this week that higher production from non- OPEC members and global economic...

  • Asia shares drop as oil reinforces growth jitters Wednesday, 10 Dec 2014 | 12:21 AM ET

    The catalyst for the latest sell-off in oil was an OPEC report that projected demand for its crude would sink next year to levels not seen in more than a decade. The decline in the price of oil accelerated after the U.S. Energy Department reported that domestic oil inventories had increased. "The slide in oil has been pretty dramatic," said Randy Frederick, managing...

  • MOSCOW, Dec 9- The World Bank said on Friday it expected the Russian economy to contract by 0.7 percent in 2015 in its new baseline scenario before growing by 0.3 percent in 2016.. The new baseline, or most likely scenario, assumes an average oil price of $78 per barrel for 2015 and of $80 per barrel for 2016.. "Investment is projected to contract for a third year in a row...

  • WORLD BANK SAYS IN NEW BASELINE SCENARIO RUSSIAN ECONOMY WILL CONTRACT BY 0.7 PCT IN 2015, GROW 0.3 PCT IN 2016.

  • VERACRUZ, Mexico, Dec 8- Mexican economic growth is likely to come in weaker than had been forecast for both this year and next after third-quarter gross domestic product missed expectations, the head of the Organisation for Economic Co-operation and Development said on Monday. Last month, Mexico's Finance Ministry downwardly revised its own 2014 growth...

  • Eurozone extends Greek bailout for 2 months Monday, 8 Dec 2014 | 7:28 AM ET

    European Union loans are due to stop at year end as Greece recovers from its economic crisis and debt default. Greece would then be switched from bailout loans to a standby credit line with less onerous conditions. Greek Prime Minister Antonis Samaras is eager to leave behind the unpopular bailout regime that has seen other eurozone governments and the...

  • BRUSSELS, Dec 8- The European Union has drawn up a wish list of almost 2,000 projects worth 1.3 trillion euros that could be included in an investment plan intended to revive the continent's stagnant economy without going deeper into debt. Other projects on the list, which officials stress is not definitive, include housing regeneration in the Netherlands, a new...

  • SANTIAGO, Dec 5- The slide in oil prices will probably cut Canadian economic growth by 1/ 3 of a percentage point in 2015, not the 1/ 4 point the Bank of Canada estimated in late October, bank Governor Stephen Poloz told Reuters on Friday. He was speaking on the sidelines of an International Monetary Fund forum in Santiago two days after he held the central bank's...

  • NEW DELHI, Dec 4- India will press the Group of 20 economies to set a two-year deadline to reduce the cost of international money transfers, two government sources said, potentially saving more than $20 billion for developing countries. The world's largest recipient of remittances- of about $70 billion a year- won the backing of G20 leaders last month in Brisbane...