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  • LONDON, July 1- The euro dipped on Wednesday, buffetted by a flurry of reports on new concessions made by Greece to its European creditors and the chances those might lead to a deal that prevents it becoming the first country to crash out of the single currency. Greece's default overnight on its International Monetary Fund loans had weakened the single currency...

  • July 1- Asia's largest economies showed hints of healing last month but euro zone factory growth remained tepid as Greek debt talks, and the country's possible departure from the bloc, dominated debate in Europe. Speculation Athens would fail to make June 30' s 1.6 billion euro repayment to the International Monetary Fund, heightening expectations Greece...

  • PARIS, July 1- Livestock feed will surpass biofuels as the main source of growth in global grain consumption in the next 10 years as emerging countries consume more animal protein while lower oil prices and policy changes end a decade of high demand for crop-based biofuel, the FAO and OECD said on Wednesday. In their annual Agricultural Outlook report, the United...

  • UPDATE 1-China parliament ratifies BRICS Bank agreement Wednesday, 1 Jul 2015 | 4:25 AM ET

    The New Development Bank, also known as the BRICS Bank, is one of two international development banks that China is promoting as an alternative to western institutions such as the World Bank. The Standing Committee of the National People's Congress, China's legislature, approved the agreement between Brazil, Russia, India, China and South Africa to create the...

  • FOREX-Euro dips after Greek IMF default, data eyed Wednesday, 1 Jul 2015 | 4:21 AM ET

    LONDON, July 1- The euro dipped again on Wednesday after Greece became the first advanced economy to default on an IMF loan and a raft of economic data may distract investors only briefly from last-ditch efforts to keep the country in the single currency. Strategists at a number of international banks have said the euro will fall sharply if it finally becomes...

  • UPDATE 1-China calls for Greek debt talks to continue Wednesday, 1 Jul 2015 | 4:06 AM ET

    BEIJING, July 1- China's Foreign Ministry on Wednesday called for talks between Greece and its creditors to continue, after the country defaulted on a loan with the International Monetary Fund. "From China's point of view we hope to see that the EU and euro zone can appropriately resolve this issue and Greece can continue to remain in the euro zone.

  • LONDON, July 1- Euro zone factory growth picked up slightly last month but remained tepid as uncertainty around Greek debt talks-- and the country's possible exit from the bloc-- swept across the region, a survey found on Wednesday. Amid speculation Athens would fail to make Tuesday's 1.6 billion euro repayment to the International Monetary Fund, expectations...

  • *Skepticism in euro zone about lending more to Greece. ATHENS/ BRUSSELS, July 1- Greece was appealing to its euro zone partners and the European Central Bank on Wednesday to keep it afloat after defaulting on its debt to the International Monetary Fund and losing frozen international bailout money. In Germany, Greece's biggest creditor, a senior lawmaker in...

  • BEIJING, July 1- China hopes to see an appropriate resolution to the debt crisis in Greece, the Foreign Ministry said on Wednesday, after Greece defaulted on a loan with the International Monetary Fund. The IMF said that Greece had not made its scheduled 1.6 billion euro loan repayment to the fund. As a result, IMF Managing Director Christine Lagarde will report to...

  • *Greece not able to repay 1.6 bln euros owed to IMF. *OPEC, U.S. output rises to multi-year highs. SINGAPORE, July 1- Oil prices fell over 1 percent on Wednesday after Greece became the first developed economy to default on a loan with the International Monetary Fund, and as both U.S. and OPEC production hit new records.

  • *Greece misses 1.6 billion euro IMF loan repayment. *Eurogroup head urges Greece to change stance with creditors. *Fitch ratings agency cuts Greece to CC.

  • *Asia holds nerve as Greece misses IMF loan payment. SYDNEY, July 1- Asian shares made guarded gains on Wednesday as investors gave a resigned shrug to news Greece had become the first developed economy to default on a loan with the International Monetary Fund. Calming after two days of wild swings, MSCI's broadest index of Asia-Pacific shares outside Japan...

  • BEIJING, July 1- The World Bank on Wednesday censured China for the state's extensive interference in the financial system, saying it could stoke potential instability unless Beijing undertakes urgent reforms to eliminate distortions in the broader economy. In its China economic update, the bank welcomed the slowdown in Asia's powerhouse economy as it...

  • China parliament ratifies BRICS Bank agreement Wednesday, 1 Jul 2015 | 12:30 AM ET

    The New Development Bank, also known as the BRICS Bank, is one of two international development banks that China is promoting as an alternative to western institutions such as the World Bank. The Standing Committee of the National People's Congress, China's legislature, approved the agreement between Brazil, Russia, India, China and South Africa to create the...

  • World Bank urges China to embrace basic financial reforms Wednesday, 1 Jul 2015 | 12:23 AM ET

    BEIJING— China needs fundamental reform of its state-dominated financial system to keep economic growth on track, the World Bank said Wednesday. "China has reached a critical phase of its economic and social development path," the World Bank said. The bank said it expects China's economic growth to decelerate this year to 7.1 percent from last year's two-decade...

  • Asian stocks gain as US data eclipses Greek risk Wednesday, 1 Jul 2015 | 12:19 AM ET

    NEW YORK— Hopes that a deal could be reached between Greece and its creditors pushed stocks higher on Wednesday. Greece failed to repay a loan to the International Monetary Fund that was due on Tuesday after talks between the nations and its creditors broke down late last week. "The developments in Greece... seem to be driving sentiment more than anything," said Phil...

  • *Gold largely retains overnight losses. SINGAPORE, July 1- Gold struggled close to its lowest in nearly four weeks on Wednesday, as the dollar stood tall after Greece missed a loan payment to the International Monetary Fund. Greece made last-minute overtures to its international creditors for financial aid on Tuesday, but it was not enough to save the country...

  • SYDNEY/ TOKYO, July 1- The euro slipped in Asia on Wednesday with Greece's fate still hanging in the balance after it became the first advanced economy to ever be in arrears to the International Monetary Fund. It has been choppy between $1.0955 and $1.1279 this week in reaction to ever-changing developments in Greece. The International Monetary Fund on Tuesday...

  • BEIJING, July 1- The World Bank said on Wednesday it expects China's economy to grow 7.1 percent this year, the same as forecast earlier, before cooling to 7.0 percent next year and 6.9 percent in 2017.. The World Bank said that a priority for the country in 2015 was to make inroads on structural adjustments while balancing reform with short-term demands.

  • QUITO, June 30- Ecuador's economy grew 3 percent in the first quarter compared with the same period last year and was fueled by the non-oil sector, the central bank said on Tuesday. In 2014, Ecuador's economy grew 3.5 percent in the first quarter from the year-ago period. Ecuador is the smallest member of OPEC and depends heavily on oil and mining.