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  • UPDATE 2-Saudi Arabia expects oil price to stabilise Wednesday, 4 Mar 2015 | 8:07 AM ET

    *Circumstances require non- OPEC nations to help balance market. *Says history to prove OPEC made right decision at Nov meeting. Giving a speech in the German capital, Ali al-Naimi also urged non- OPEC producers to help balance the oil market, saying it was not up to Saudi Arabia to subsidize higher-cost producers and that circumstances required non- OPEC to...

  • In a speech, he said his country was committed to helping balance the oil market, but added it was not up to Saudi Arabia, OPEC's top exporter, to subsidize higher-cost producers and that circumstances required non- OPEC nations to cooperate. Prices collapsed from $115 in June due to oversupply, in a decline that deepened after Saudi Arabia and the rest of the...

  • *Fighting escalates in Libya, militants seize oilfield. LONDON, March 4- Brent dipped on Wednesday but held above $60 a barrel, supported by a rise in Saudi crude prices and air strikes and militant raids on oil facilities in Libya. In a move widely seen as showing Saudi Arabia's confidence in a demand recovery, the OPEC kingpin raised official selling prices for its...

  • *Saudi Arabia raises monthly prices for crude sales to U.S., Asia. SINGAPORE, March 4- Brent dipped on Wednesday but held above $60 a barrel, supported by a rise in Saudi crude prices and air strikes on oil facilities in Libya. In a move widely seen as showing Saudi Arabia's confidence about a recovery in demand, the OPEC kingpin raised the official selling prices for...

  • Brent holds above $60 after Saudi price hikes Tuesday, 3 Mar 2015 | 10:10 PM ET

    *Fighting escalates in Libya before UN talks. SINGAPORE, March 4- Brent held above $60 a barrel on Wednesday supported by a hike in Saudi crude prices and strikes on oil facilities in Libya. In a move widely seen as a vote of confidence by Saudi Arabia in demand recovery, the OPEC kingpin raised the official selling prices for its oil deliveries to Asia and the United...

  • Dubai's Emirates says adds $7.6 bln to EU GDP Tuesday, 3 Mar 2015 | 10:34 AM ET

    DUBAI, March 3- Dubai's flagship airline Emirates contributes 6.8 billion euros to the European Union economy, it said on Tuesday, in an apparent response to criticism from rivals that government subsidies give Gulf carriers an unfair advantage. Emirates first flew to Europe in 1987 and since then has grown to 350 passenger flights a week from Europe, its...

  • GREEK FINMIN VAROUFAKIS SAYS THE WORST THING THAT COULD HAPPEN TO GREECE IS AN EXIT FROM THE EURO ZONE.

  • ATHENS, March 2- Greece's government sought to assure its creditors and investors on Monday that it can cover its funding needs this month, including repaying a 1.5 billion euro loan to the International Monetary Fund. Athens is running out of options to fund itself despite striking a deal with the euro zone in February to extend its bailout by four months.

  • LONDON, March 2- Oil dropped more than 1 percent on Monday, with Brent slipping under $62 a barrel, depressed by a stronger dollar and a rise in Libyan crude output. Brent crude hit a low of $61.70 a barrel and was at $61.90 by 1100 GMT, down 68 cents. Disruption to oil supplies from members of the Organization of the Petroleum Exporting Countries has helped support...

  • EU and Cuba to restart talks after cultural dispute Friday, 27 Feb 2015 | 1:26 PM ET

    BRUSSELS, Feb 27- Cuba and the European Union will hold a third round of talks in Havana next week aimed at increasing trade, investment and political dialogue after overcoming a dispute that delayed the negotiations, an EU official said on Friday. EU officials suspect that Havana may not have felt ready for a third round last year because they were due to discuss...

  • Armenia's GDP growth slows to 3.4 pct in 2014 Friday, 27 Feb 2015 | 7:16 AM ET

    YEREVAN, Feb 27- Armenia's gross domestic product growth slowed to 3.4 percent in 2014 from 3.5 percent in 2013, and was down from an initially projected 5.2 percent, the National Statistics Service said on Friday. It also belongs to Russian President Vladimir Putin's Eurasian Union, a bloc he hopes will rival the European Union. The International Monetary Fund...

  • ACCRA, Feb 26- Ghana and the International Monetary Fund reached agreement on Thursday on a three-year funding deal they hope will restore fiscal stability to an economy hailed until recently as an African star. For years Ghana's economy grew at around 8 percent on the back of gold, cocoa and oil exports and it was rated one of the most attractive countries in...

  • Altice seeks EU okay with concessions for Portuguese deal Thursday, 26 Feb 2015 | 12:07 PM ET

    BRUSSELS, Feb 26- Telecoms group Altice has offered concessions in an effort to gain European Union antitrust approval for its 7.4 billion euro bid for the Portuguese assets of Brazil's Grupo Oi, the European Commission said. Altice's founder, Franco-Israeli telecoms entrepreneur Patrick Drahi, has expanded his portfolio of cable and mobile telecoms...

  • IMF reaches staff agreement with Ghana on $940 mln loan Thursday, 26 Feb 2015 | 11:29 AM ET

    WASHINGTON, Feb 26- The International Monetary Fund staff has reached agreement with the government of Ghana for a roughly $940 million loan to help the African nation stabilize itself after three years of declining economic growth and ballooning debt. "Ghana experienced three difficult years characterized by declining economic growth, increasing...

  • BRUSSELS, Feb 26- The European Union said on Thursday it was escalating a dispute with Russia at the World Trade Organization over what it said were excessive import duties on paper products, refrigerators and palm oil. The challenge is the latest in a series of WTO disputes with Russia, the EU's third-biggest trading partner, since Moscow joined the body in 2012,...

  • CARACAS, Feb 25- Venezuela has requested the annulment of a World Bank tribunal award that orders it pay Exxon Mobil Corp $1.6 billion in compensation for nationalizations, both sides said on Wednesday. The move contrasts with October, when Venezuela deemed the award a victory for its sovereignty and oil workers were shown on TV celebrating.

  • CARACAS, Feb 25- Venezuela has requested the annulment of a World Bank tribunal award that orders it pay Exxon Mobil Corp $1.6 billion in compensation for nationalizations, both sides said on Wednesday. "Venezuela has filed an application for annulment," the country's lawyer George Kahale told Reuters in an email, adding he didn't know yet when the tribunal was...

  • WASHINGTON, Feb 25- The International Monetary Fund on Wednesday said it was ready to assist Ukraine with its foreign currency issues, amid a steep fall in the country's hryvnia currency. The IMF also said it was still waiting for Ukraine to complete prior actions before it could bring the loan program for approval to its board. But it emphasized that the funds...

  • Since the establishment in 1951 of the Coal and Steel Community, the precursor of the European Union, advocates of transnational unity have demanded closer cooperation on energy. The European Commission, the EU executive, says the clash with Russia over its seizure of Ukraine's Crimea region means there is the strongest case yet to pool resources across the EU,...

  • Papaconstantinou, who served under former socialist premier George Papandreou in 2009-2011, showed no emotion as he appeared before a special court in Athens. They are among the names of holders of HSBC accounts in Switzerland obtained by France in 2010 when Christine Lagarde, now the International Monetary Fund chief, was the country's finance minister.