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  • WTO TALKS FAIL TO CLINCH DEAL ON TRILLION DOLLAR TARIFF CUTS ON INFORMATION TECHNOLOGY GOODS- DIPLOMATS.

  • WASHINGTON, Dec 12- The head of the International Monetary Fund said on Friday the global lender was ready to discuss ways to move forward without the United States on reforms that would give emerging markets greater IMF voting power. The agreed changes would double the Fund's resources and hand more IMF voting power to countries such as Brazil, Russia, India,...

  • UPDATE 11-Oil tumbles towards $62 on supply glut Friday, 12 Dec 2014 | 10:09 AM ET

    LONDON, Dec 12- Oil fell to fresh lows not seen since July 2009 on Friday with Brent crude slipping towards $62 a barrel on concerns over a global supply glut and weak demand. The International Energy Agency said oil prices would likely come under further pressure, cutting its outlook for demand growth in 2015 and predicting that non- OPEC output gains would...

  • LONDON, Dec 12- Oil prices will likely come under further downward pressure, the International Energy Agency said on Friday as it cut its outlook for demand growth in 2015 and predicted that healthy non- OPEC supply gains were poised to aggravate a global oil glut. The selloff gained pace after OPEC decided last month to keep its output target unchanged to fight...

  • BEIJING, Dec 12- China expressed regret on Friday at the failure of U.S. Congress to pass reforms to give emerging markets greater say at the International Monetary Fund. The changes would double the fund's resources and hand more IMF voting power to countries such as Brazil, Russia, India, China and South Africa, also known as BRICS. China also launched a proposed...

  • LONDON, Dec 12- Brent crude oil slipped on Friday to $63 a barrel, its lowest since July 2009, dragged down by persistent concerns over a global supply glut and a sluggish demand outlook. The market has reacted strongly to the OPEC forecast cut, and it is focusing only on the negative, "said Hans van Cleef, senior energy economist at ABN Amro in Amsterdam.

  • GENEVA, Dec 11- A trillion dollar deal at the World Trade Organisation to reduce tariffs in the vast information technology sector will stand or fall in the next 24 hours, trade diplomats said on Thursday. But late on Thursday one trade official involved with the talks said a deal would be very unlikely because of a stand-off between South Korea and China, which was...

  • Trillion dollar IT trade deal on a knife-edge at the WTO Thursday, 11 Dec 2014 | 12:36 PM ET

    GENEVA, Dec 11- A trillion dollar deal at the World Trade Organisation to reduce tariffs in the vast information technology sector will stand or fall in the next 24 hours, trade diplomats said on Thursday. "However, while the finalisation of the negotiations appears certainly within reach, there is still some distance, small compared with the long way we have...

  • UPDATE 6-Oil slips towards $64, oversupply weighs Thursday, 11 Dec 2014 | 9:56 AM ET

    *Commerzbank cuts 2015 Brent forecast to $73. Crude prices sank on Wednesday as OPEC forecast an increasing supply surplus in 2015, U.S. crude inventories unexpectedly rose and OPEC's most influential voice, Saudi Arabia's oil minister, shrugged off the need for an output cut. "We may see some technical bounces, but it is too soon to speak of a sustainable price...

  • *Commerzbank cuts 2015 Brent forecast to $73. *OPEC sees lower demand, Saudi questions need for output cut. Crude prices sank on Wednesday as OPEC forecast an increasing supply surplus in 2015, U.S. crude inventories unexpectedly rose and OPEC's most influential voice, Saudi Arabia's oil minister, shrugged off the need for an output cut.

  • KIEV, Dec 11- Ukraine's prime minister on Thursday called for a conference of international lenders to be held to provide the country with extra funds to head off possible default. He specifically referred to a report in the Financial Times that the International Monetary Fund, which is visiting Kiev this week for talks on an existing $17 billion bailout...

  • *OPEC sees lower demand, Saudi questions need for output cut. Crude prices sank on Wednesday as OPEC forecast an increasing supply surplus in 2015, U.S. crude inventories unexpectedly rose and OPEC's most influential voice, Saudi Arabia's oil minister, shrugged off the need for an output cut. North Sea Brent crude rose 44 cents to $64.68 by 0907 GMT, up from...

  • SEOUL, Dec 11- U.S. crude futures edged back above $61 a barrel in early Asian trade on Thursday, but remained near the lowest for more than 5 years after data showing a spike in U.S. oil stocks and after another pledge by Saudi Arabia not to cut output. Other OPEC member Venezuela's foreign minister and top OPEC emissary Rafael Ramirez provided his country's answer...

  • WASHINGTON, Dec 9- The U.S. Congress is preparing to leave town for the holidays without passing reforms to give emerging markets greater say at the International Monetary Fund, a step the Obama administration has warned could undermine Washington's international influence. The changes would double the fund's resources and hand more IMF voting power to...

  • LIMA, Dec 10 (Reuters)- Venezuela's foreign minister Rafael Ramirez said the country is considering backing a call for an emergency OPEC meeting depending upon how oil prices perform in the first quarter of 2015.. OPEC should not leave the price up to the market but should take action, Ramirez said, "That's what we must do, that is our job." It has had bilateral meetings...

  • At the same event, Venezuela's foreign minister and top OPEC emissary Raphael Ramirez provided his country's answer to Naimi's question: OPEC must act, he told Reuters, because "that is our job. Ramirez said Venezuela would evaluate whether to call for an emergency OPEC meeting after seeing how oil prices perform in the first quarter. Last month, Gulf producers...

  • *Traders refocusing on excess supplies after OPEC. LONDON, Dec 10- Physical crude markets are flashing warning signs the 40 percent fall in oil prices could have further to run as cargoes slip to cheaper levels versus the Brent benchmark, mirroring a move this summer that signaled the start of the crash. In West Africa, well over half the January export program for...

  • U.S. Congress will not pass IMF reforms this year Wednesday, 10 Dec 2014 | 11:42 AM ET

    WASHINGTON, Dec 9- Funding for the International Monetary Fund did not make it into U.S. spending legislation this year, another setback for historic reforms aimed at giving emerging markets more say in how the world lender is run. The reforms would double the fund's resources and hand more IMF voting power to countries like the BRICS: Brazil, Russia, India, China...

  • *OPEC trims world oil demand forecast to 28.92 mln bpd. *Brent crude falls below $65/ bbl, lowest since Sept 2009. LONDON, Dec 10- Brent crude oil fell to a new five-year low below $65 a barrel on Wednesday on mounting signs of oversupply and lacklustre demand as global economic growth falters.

  • MOSCOW, Dec 10- The rouble extended losses on Wednesday afternoon as oil prices slid to a new five-year low after the OPEC oil producers' group cut its demand forecast for next year. Global oil benchmark Brent was around 3 percent lower, below $65 a barrel, in late afternoon trading in Moscow. "The general feeling is that the CBR needs to come up with a sizeable package...