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International Organizations

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  • *Russia to meet OPEC next week, likely to stick to strategy. MOSCOW/ LONDON, May 27- As Russia prepares to meet OPEC next week, a briefing paper from a Moscow think tank has shed light on how the government was warned against cutting oil output late last year even though global prices were plummeting. "If Russia cuts output, OPEC will take our market share in Europe," a team...

  • ATHENS, Greece— A big taboo has been broken in Athens. Instead, it insisted on calling the International Monetary Fund, European Commission and European Central Bank the "institutions. The troika and its austerity inspections, Athens said, were finished.

  • *U.S. expected to press Europe to reach deal on Greece. DRESDEN, Germany, May 27- Little more than a gentlemen's club in recent years, G7 finance ministers and central bankers have their work cut out this week to revive stuttering global growth and defuse tensions over China's growing economic clout. The United States is likely to use the talks, beginning late on...

  • US STOCKS-Futures edge higher after dollar rally subsides Wednesday, 27 May 2015 | 7:41 AM ET

    May 27- U.S. stock index futures were higher on Wednesday as the dollar retreated from its largest gain in two years and as worries about Greece receded. *Greece and its European creditors have also played down fears that Athens would default on a payment to the International Monetary Fund next week. *Michael Kors Holdings fell 11 percent to $53.92 after the...

  • G7 finance chiefs meet with growth problem to fix Wednesday, 27 May 2015 | 4:47 AM ET

    U.S. expected to press Europe to reach deal on Greece. The United States is likely to use the talks, beginning late on Wednesday and running through to Friday, as an opportunity to press Europe to reach a funding-for-reforms deal with Greece, an official close to the discussions said. Hosts Germany have given the meeting in Dresden the heading "Towards a Dynamic...

  • "The dollar had a strong rebound on the back of slightly better than expected U.S. durable goods and consumer confidence data, but that rebound has been short-lived," said Angus Campbell, senior analyst at FXpro in London. Greece and its European creditors have played down fears that Athens would default on a payment to the International Monetary Fund next week.

  • LONDON, May 26- A panel of European Union lawmakers narrowly rejected a draft law aimed at curbing trading risks at banks after they failed to bridge a deep divide between the main parties. The European Parliament's economic affairs committee voted to reject the draft law on bank structural reform by 30 votes to 29 in a relatively rare move.

  • MOSCOW, May 26- Russia is increasing its gold holdings because gold is a reserve asset that is free from legal and political risks, a senior central banker said on Tuesday. Russia increased its gold holdings for many months in a row last year, as shown by central bank and International Monetary Fund figures. Western sanctions imposed because of Russia's actions in...

  • *OPEC meets next week; Iran sees no output change. Friday's weekly data showed U.S. drillers cut the number of rigs by just one last week and Goldman Sachs said prices were at a level that would spur activity, adding to a growing list of headwinds crude faces that include rising OPEC supply. On Sunday, Iran said the Organization of the Petroleum Exporting Countries...

  • ATHENS/ BRUSSELS, May 26- Greece and its Europeans creditors on Tuesday sought to play down fears that Athens would default on a payment to the International Monetary Fund next week. Running short of cash to pay public sector salaries, pensions and debt obligations, senior members of Prime Minister Alexis Tsipras's government have said openly that Greece does...

  • BRUSSELS, May 26- Cash-strapped Greece could avoid paying back the IMF on June 5 without defaulting if it lumps together all IMF repayments due in June and pays them at the end of the month, officials said on Tuesday. Greece has to repay the International Monetary Fund 300 million euros on June 5, the first of four installments due in June that total 1.6 billion euros.

  • Greece might sidestep June 5 IMF payment deadline Tuesday, 26 May 2015 | 9:18 AM ET

    BRUSSELS, May 26- Cash-strapped Greece could avoid paying back the IMF on June 5 and win more time to negotiate a funding deal without defaulting if it lumps together all IMF repayments due in June and pays them at the end of the month, officials said on Tuesday. Greece has to repay the International Monetary Fund 300 million euros on June 5, the first of four...

  • GREECE COULD AVOID HAVING TO PAY IMF ON JUNE 5 IF IT LUMPS TOGETHER ALL JUNE IMF BILLS AND PAYS AT END OF MONTH- OFFICIALS.

  • Greece mulls levy on undeclared deposits to raise cash Tuesday, 26 May 2015 | 8:33 AM ET

    ATHENS, Greece— Greece is proposing to legalize tax-dodgers' undeclared money for a fee, a way to raise money as the country tries to reach a deal with creditors to get more bailout money and avoid default. The new, radical left-led government in Athens says that without the money it can't make a debt payment to the International Monetary Fund on June 5.

  • *IMF expects China growth of 6.8 pct this year. BEIJING, May 26- China's yuan currency is no longer undervalued after its recent gains, but the government should quicken reforms to get to having "a floating exchange rate", the International Monetary Fund said on Tuesday. In a reference to how China still has a large trade surplus, despite a stronger yuan, the IMF said...

  • IMF official says China's yuan no longer undervalued Tuesday, 26 May 2015 | 6:37 AM ET

    BEIJING— The International Monetary Fund no longer believes China's tightly controlled currency is undervalued, an IMF official said Tuesday, a stance that might help Beijing in its wrangling with Washington over exchange rate controls. The IMF's first deputy managing director, David Lipton, also said Beijing should work toward having a floating exchange...

  • *IMF expects China growth of 6.8 pct this year. BEIJING, May 26- China's yuan currency is no longer undervalued after its recent substantial appreciation, but the government should quicken reforms to get to having "a floating exchange rate", the International Monetary Fund said on Tuesday. In a reference to how China still has a large trade surplus, despite yuan...

  • *Dollar rally weighing on oil could run further- Morgan Stanley. *OPEC meets next week; Iran sees no output change. The dollar could rally further, Morgan Stanley said, adding to a growing list of headwinds crude faces that include rising OPEC supply.

  • BEIJING, May 26- China should step up fiscal support for its economy if growth dips below 6.5 percent this year, or prepare to take steps to rein in credit and investment if growth surprises on the upper side, the International Monetary Fund said on Tuesday. The IMF said China still faced risks form unsustainable credit and investment growth and urged the...

  • TOKYO, May 26- China's drive to create a Beijing- led Asian development bank seen as a threat to U.S. and Japanese regional clout is adding to a sense of urgency among Japanese officials keen to get a 12- nation pan-Pacific trade pact off the ground. Japan hopes the Trans-Pacific Partnership will help anchor ally Washington in Asia and create a rule-based regime...