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  • Albania gets 266-million-euro loan from World Bank Saturday, 28 Mar 2015 | 10:49 AM ET

    TIRANA, Albania— The World Bank has lent 266 million euros to Albania for its public finances and investment in road maintenance. A statement from the bank Saturday said that 200 million euros would be used as guarantor for Albania to pay back a previous 300- million-euro international loan and also secure money for the country's budget. Last year, the bank gave...

  • UK, Switzerland accepted by China-led investment bank Saturday, 28 Mar 2015 | 1:52 AM ET

    China's Finance Ministry said on Saturday that the U.K. and Switzerland had been formally accepted as founding members of the Asian Infrastructure Investment Bank.

  • SHANGHAI/ RIO DE JANEIRO, March 28- China's Finance Ministry said on Saturday that the U.K. and Switzerland had been formally accepted as founding members of the Asian Infrastructure Investment Bank, a day after Brazil accepted China's invitation to join the AIIB. China's AIIB has been seen as a challenge to the World Bank and Asian Development Bank, and a...

  • RIO DE JANEIRO, March 27- Brazil said on Friday it had accepted China's invitation to join its Asian Infrastructure Investment Bank as a founding member. The AIIB has been seen as a challenge to the World Bank and Asian Development Bank, and a significant step for China's global influence. China's Finance Ministry said that Austria had also applied to join, and has...

  • RIO DE JANEIRO, March 27- Brazil said on Friday it had accepted China's invitation to join its Asian Infrastructure Investment Bank as a founding member. The AIIB has been seen as a challenge to the World Bank and Asian Development Bank, and a significant step for China's global influence. The United States had warned against the new institution but its European...

  • KOUROU, French Guiana— A rocket fired from French Guiana has launched two Galileo satellites for the European Space Agency as the European Union continues to expand its global navigation system. The European Union has said its 30- satellite Galileo navigation system will be fully operational by 2020. Two more Galileo missions are scheduled this year.

  • Spain's 2014 budget deficit below that set by EU Friday, 27 Mar 2015 | 10:34 AM ET

    MADRID— Spain says its budget deficit in 2014 ended up slightly above its target but below that sought by the European Union. Finance Minister Cristobal Montoro said Friday the country's deficit amounted to 5.7 percent of Spain's GDP. Spain has pledged to get it down to 2.8 percent in 2016— below the 3 percent rule for countries that use the euro.

  • ATHENS, March 27- Greece is submitting a long-awaited list of reforms to euro zone and International Monetary Fund lenders on Friday in the hope it will unlock badly needed cash, a Greek government official said. The European Union and IMF lenders, informally called the Brussels Group, will meet in Brussels later on Friday to start discussing it, the official said.

  • WASHINGTON, March 26- The International Monetary Fund has not decided whether Russia's $3 billion holding of Ukrainian debt should be classified as "official" debt, an IMF spokesman said on Thursday, taking back an earlier statement. Ukraine, which recently received a $17.5 billion bailout from the International Monetary Fund, must come up with at least $15.3...

  • INTERVIEW-Iraq oil minister sees $70 crude by end 2015 Thursday, 26 Mar 2015 | 3:33 PM ET

    BAGHDAD, March 26- Iraq's Oil Minister Adel Abdel Mehdi predicted world oil prices could reach $70 a barrel by the end of 2015 and played down the impact of the emerging conflict in Yemen on prices. A global slump in oil prices has slashed government revenue in Iraq, prompting the OPEC producer to renegotiate contracts with oil majors as it faces a costly military...

  • EU to resume Galileo satellite launch programme Thursday, 26 Mar 2015 | 2:04 PM ET

    BRUSSELS, March 26- The European Union is set to send two navigation satellites into orbit on Friday aboard a Russian rocket, in its first launch since a botched deployment in August that cost several million euros to fix. Global Positioning System is obliged to use the Russian Soyuz system until a development of Arianespace's European Ariane 5 rocket is ready...

  • EU to resume Galileo satellite launch program Thursday, 26 Mar 2015 | 2:04 PM ET

    BRUSSELS, March 26- The European Union is set to send two navigation satellites into orbit on Friday aboard a Russian rocket, in its first launch since a botched deployment in August that cost several million euros to fix. Global Positioning System is obliged to use the Russian Soyuz system until a development of Arianespace's European Ariane 5 rocket is ready...

  • DUBAI, March 26- Top oil exporter Saudi Arabia and Gulf OPEC ally Kuwait will beef up security around their oil facilities, they said on Thursday, after they and other Arab allies began a military operation in Yemen. Oil prices rallied on Thursday after the air strikes in Yemen, on the borders of Saudi Arabia, sparking fears of a wider Middle East conflict that could...

  • VICTORIA, March 26- The Seychelles' economy is seen growing by 3.5 percent this year from an estimated 3.3 percent in 2014, helped by a recovery in tourism, the International Monetary Fund said on Thursday. "Although the weak euro is putting some pressure on yields, tourism arrivals are rising moderately, and growth is projected at 3.5 percent, higher than...

  • U.S. business groups have already complained about the new rules, which China announced in December, and senior officials including Secretary of State John Kerry have written to their Chinese counterparts about them. Japan and the European Union have echoed U.S. concerns about the regulations, which China says aim to promote cybersecurity.

  • GENEVA, March 26- The United States is concerned about China's restrictions on the use of foreign information technology equipment by the banking sector, the United States said in a filing published by the World Trade Organization on Thursday. U.S. business groups have already complained about the regulations, and senior officials, including Secretary of...

  • WASHINGTON, March 26- Russia's $3 billion holding of Ukrainian debt should be classified as' official' debt, an IMF spokesman said on Thursday, weighing in on what has become a contentious issue in Kiev's economic situation. But Russia, which holds a $3 billion Eurobond from Ukraine, has so far refused to participate in the restructuring. Russia, which Western...

  • IMF says postpones Yemen loan program for now Thursday, 26 Mar 2015 | 10:43 AM ET

    WASHINGTON, March 26- The International Monetary Fund on Thursday said it was postponing its next review of its $553 million loan program to Yemen given the uncertain situation in the country. "Given a host of uncertainties surrounding Yemen at the moment, the first review of the Fund-supported program is postponed until the situation clarifies."

  • EU signals further divergence from global banking rules Thursday, 26 Mar 2015 | 8:23 AM ET

    LONDON, March 26- The European Union will continue to diverge from global banking regulations where necessary to avoid overburdening smaller lenders, the bloc's financial services chief said on Thursday. Hill said he would "differentiate" from other Basel rules, too, in an effort to ensure that EU legislation is proportionate and takes into account different...

  • NAIROBI, March 26- Kenya's shilling is overvalued by about 5 to 10 percent to the dollar but demand for imports and other market pressures are likely to weaken it gradually so no policy change is required, the IMF said. "We did an assessment a few months ago and we found there was an excess of valuation around 5 and 10 percent at that time," said Armando Morales, the...