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International Organizations

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  • *IEA, OPEC, EIA see higher demand for OPEC crude. After an oversupply of world oil sent prices tumbling in 2014, top OPEC exporter Saudi Arabia urged fellow members not to prop up the market and to try to knock out competing sources like U.S. shale, which, because it has higher production costs, had to cut output when prices fell. In reports this week, The International...

  • BRUSSELS, Feb 12- Greece agreed on Thursday to talk to its creditors about the way out of its hated international bailout in a political climbdown that could prevent its new leftist-led government running out of money as early as next month. Prime Minister Alexis Tsipras, attending his first European Union summit, agreed with the chairman of euro zone finance...

  • BRUSSELS, Feb 12- Greek negotiators will meet officials of the troika of EU, ECB and IMF soon, most likely in Brussels on Friday, to prepare Monday's key Eurogroup meeting on debt talks, an EU official said on Thursday, raising hopes of a possible deal. EU officials said Dijsselbloem and Alexis Tsipras agreed not to issue a formal written statement on the move but to...

  • UNITED NATIONS, Feb 12- The United Nations Security Council on Thursday banned all trade in antiquities from war-torn Syria, threatened sanctions on anyone buying oil from Islamic State and al Qaeda-linked Nusra Front militants and urged states to stop kidnap ransom payments. Ambassador to the United Nations, Samantha Power, lamented that the council had not...

  • LONDON, Feb 12- European Union efforts to curb risk taking by banks look set to be watered down as key member states such as Germany shield "universal" lenders from more onerous rules, EU documents seen by Reuters on Thursday showed. But countries such as Germany and France have dragged their feet after introducing their own national reforms, which may overlap with...

  • BEIJING, Feb 12- China's Commerce Ministry expressed "regret" on Thursday after the United States challenged Chinese subsidies supporting billions of dollars of exports across industries from steel to shrimp. China consistently follows World Trade Organization rules and its policies are important measures to promote the healthy development of its...

  • *Russia and Ukraine agree ceasefire. They extended these gains after Russian president Vladimir Putin said Russia and Ukraine had agreed a ceasefire which will take effect from Feb. 15. This came as the International Monetary Fund announced a new $40 billion four-year funding programme for Ukraine.

  • KIEV, Feb 12- Ukrainian Prime Minister Arseniy Yatseniuk said on Thursday that a forthcoming IMF aid package presupposes "very difficult" reforms to fight corruption, overhaul the energy sector, cut state expenditure and reduce state bureaucracy. Yatseniuk said Ukraine expected $25 billion of IMF financial support as part of a four-year facility, including...

  • YATSENIUK SAYS FORTHCOMING IMF PROGRAMME PRESUPPOSES "VERY DIFFICULT" REFORMS TO FIGHT CORRUPTION, OVERHAUL THE ENERGY SECTOR, CUT STATE EXPENDITURE AND REDUCE STATE BUREAUCRACY.

  • YATSENIUK SAYS UKRAINE EXPECTS $25 BILLION OF IMF FINANCIAL SUPPORT IN FOUR-YEAR FACILITY, INCLUDING $17.5 BILLION TO STABILISE FINANCIAL SITUATION IN COUNTRY.

  • UKRAINE PM YATSENIUK, SPEAKING OF FUTURE IMF AID PACKAGE, SAYS 2016 COULD BE YEAR OF ECONOMIC GROWTH IF "RUSSIAN AGGRESSION" IS HALTED AND INTERNAL REFORMS ARE A SUCCESS.

  • MUMBAI, Feb 12- The United States will "push back very hard" against countries that target weaker exchange rates to gain an unfair trade advantage, Treasury Secretary Jack Lew said on Thursday, driving home concerns he expressed to the Group of 20 this week. He urged Europe to make greater use of fiscal policy to reinforce monetary stimulus to boost growth.

  • SEOUL, Feb 12- U.S. crude futures rose above $49.50 a barrel on Thursday as the Ukraine army suffered some of the heaviest losses in the nine-month war, and Saudi Arabia and Russia's energy giant Gazprom discussed cooperation between OPEC and non- OPEC oil producers. *The leaders of France, Germany, Russia and Ukraine held peace talks in Belarus on Wednesday, while...

  • NEW YORK, Feb 11- Greece has reached an agreement in principle with the European Union to stay in an EU bailout program, CNBC reported on Wednesday, citing an unnamed source.

  • BRUSSELS, Feb 10- One goal for U.N. climate talks is to stop industry fleeing Europe to escape regulatory costs, a Dow Chemical director said on Wednesday, adding there was no need to intervene in the EU carbon market to drive up prices. The European Union has sought to lead efforts to curb greenhouse gas emissions with its Emissions Trading System, the world's...

  • WASHINGTON, Feb 11- The United States on Wednesday launched a legal challenge to Chinese export subsidies supporting billions of dollars of exports across a wide swathe of industries from steel to shrimp. The request for consultations, lodged on Wednesday, is the first step in a World Trade Organization dispute. "We are equally committed to the decisive,...

  • BRUSSELS, Feb 10- One goal for U.N. climate talks is to stop industry fleeing Europe to escape regulatory costs, a Dow Chemical director said on Wednesday, adding there was no need to intervene in the EU carbon market to drive up prices. The European Union has sought to lead efforts to curb greenhouse gas emissions with its Emissions Trading System, the world's...

  • CAIRO, Feb 11- The International Monetary Fund said on Wednesday that Egypt's structural and monetary reforms were starting to produce a turnaround in the economy, which has been hit by persistent turmoil since 2011.. Egypt's current government has since embarked on a series of reforms, and asked the IMF to assess its financial and economic condition in the...

  • CAIRO, Feb 11- The International Monetary Fund said on Wednesday that Egypt's structural and monetary reforms were starting to produce a turnaround in the economy, which has been hit by persistent turmoil since 2011.. However, Egypt has received billions of dollars in aid from Gulf states since ex-army chief Abdel Fattah al-Sisi ousted president Mohamed...

  • UPDATE 1-Greece, OECD agree to work together on reforms Wednesday, 11 Feb 2015 | 6:06 AM ET

    ATHENS, Feb 11- Greece and the OECD agreed on Wednesday to work together on reforms to the Greek economy, but Athens insisted it would not let outsiders decide what policies it should adopt. Speaking ahead of a meeting of euro zone finance ministers in Brussels, where Greece will present a demand for an end to its international bailout and a transition to a new debt...