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  • WASHINGTON, May 14- The International Monetary Fund's chief economist Olivier Blanchard is leaving the IMF, the Wall Street Journal reported on Thursday, saying it was not yet clear who would replace him. Blanchard, who helped steer the Fund since 2008 and guided it through the global economic recession, told the newspaper he needs to digest the issues he's...

  • LONDON, May 14- Bank of England Governor Mark Carney said on Thursday it was important that the British government provide clarity on how it will proceed with a planned referendum on the country's membership of the European Union. Carney told BBC radio that Britain's access to the EU's common market was one of its big economic advantages. It's the largest...

  • TASHKENT, May 14- Uzbekistan's government needs to speed up private sector reform to make sure robust economic growth remains sustainable, the International Monetary Fund said, forecasting a strong 2015.. Gross domestic product in Central Asia's most populous nation grew by 8.1 percent last year and remained robust in the first quarter of this year, rising by...

  • DIARY- Top Economic Events to May 27 Wednesday, 13 May 2015 | 8:01 PM ET

    WASHINGTON- European Central Bank President Mario Draghi will give the Michel Camdessus Central Banking Lecture at the International Monetary Fund- 1400 GMT. LONDON- Bank of England member Don Kohn speaks to the Society of Business Economists- 1700 GMT. OTTAWA- Bank of Canada publishes its semi-annual review, with articles on Inflation Dynamics in the...

  • UPDATE 4-Oil extends gains after U.S. fuel stocks drop Wednesday, 13 May 2015 | 7:08 AM ET

    *Oil glut builds as OPEC members pump near record levels. *IEA cuts demand estimate for OPEC crude. LONDON, May 13- Brent crude oil rose above $67 a barrel towards five-month highs on Wednesday after U.S. crude stockpiles fell for a second straight week, suggesting that the world's biggest oil market is rebalancing.

  • *Oil glut builds as OPEC members pump near record levels. *IEA cuts demand estimate for OPEC crude. LONDON, May 13- Brent crude oil rose above $67 a barrel towards five-month highs on Wednesday after U.S. crude stockpiles fell for a second straight week, suggesting that the world's biggest oil market is rebalancing.

  • MOSCOW, May 13- Russia is consulting with OPEC before a meeting of the oil producers' group in June and the current oil price is within range of Moscow's earlier forecasts, a Russian energy ministry official said on Wednesday. The statement by Kirill Molodtsov, deputy energy minister, suggests Moscow is less worried about the oil price after it rebounded to over...

  • Russia says current oil price in line with forecast Wednesday, 13 May 2015 | 4:31 AM ET

    MOSCOW, May 13- Russia is continuing its consultations with OPEC before a meeting of the oil producers' group in June and sees the current oil price within the range of Moscow's earlier forecasts, a Russian energy ministry official said on Wednesday. The statement by Kirill Molodtsov, deputy energy minister, suggests Moscow is less worried about the oil price...

  • LONDON, May 13- A global oil glut is building as OPEC kingpin Saudi Arabia pumps near record highs in an attempt to win a market-share battle against stubbornly resistant U.S. shale production, the International Energy Agency said on Wednesday. Global oil production exceeds demand by around 2 million barrels per day, or over 2 percent, following spectacular...

  • Oil glut builds as OPEC fights for market share-IEA Wednesday, 13 May 2015 | 4:00 AM ET

    LONDON, May 13- A global oil glut is building as key OPEC oil producers pump near record highs in an attempt to win market share, the International Energy Agency said on Wednesday. Oil prices have fallen dramatically from above $115 a barrel in June 2014 due to ample supply. The decline deepened after OPEC chose to defend market share rather than cut output.

  • *Electrical steel from China, Japan, Korea, Russia, U.S. BRUSSELS, May 13- The European Union will impose anti-dumping duties from Thursday on imports of a grade of electrical steel from China, Japan, Russia, South Korea and the United States, its second set of measures this year to protect European steel producers. Duties of 28.7 percent will cover imports from...

  • *OPEC raises 2015 oil demand f'cast; US cuts production outlook. June Brent crude rose 58 cents to $67.44 a barrel by 0624 GMT. U.S. crude was up 64 cents at $61.39, after earlier hitting a high of $61.83.

  • *Oil adds to overnight rally on OPEC demand forecasts. TOKYO, May 13- Asian shares advanced on Wednesday despite another set of disappointing Chinese economic reports, as investors instead focused on hopes of further stimulus from Beijing to prevent a sharper slowdown in the world's second-largest economy. European shares were expected to get the day off to a...

  • *OPEC raises 2015 oil demand f'cast; US cuts production outlook. *Coming up: China industrial output for April by 0530 GMT. June Brent crude rose 44 cents to $67.30 a barrel by 0446 GMT.

  • *OPEC raises 2015 oil demand f'cast; US cuts production outlook. *Coming up: China industrial output for April by 0530 GMT. June Brent crude rose 32 cents to $67.18 a barrel by 0209 GMT.

  • BRASILIA, May 12- Brazil must do more to achieve its 2015 fiscal savings goal and needs deep economic reforms to foster stronger growth, the International Monetary Fund said on Tuesday. In its annual assessment, the IMF cited government missteps that have dragged the once-booming Brazilian economy toward an expected recession this year, but it endorsed the...

  • SINGAPORE, May 13- Oil prices rose in early trading on Wednesday after OPEC raised its consumption forecast and the U.S. government lowered its 2015 and 2016 crude output growth forecasts. Saudi-led air strikes in Yemen raised fears over the security of oil supplies in the Middle East. *In Yemen, Saudi-led air strikes aimed at Iran- allied Houthis killed 90 people...

  • Brazil must do more to meet key budget target -IMF Tuesday, 12 May 2015 | 5:34 PM ET

    BRASILIA, May 12- Brazil must do more if it is to meet its main budget surplus goal this year, and deep economic reforms are necessary to foster stronger growth in the future, the International Monetary Fund said on Tuesday. The IMF said further measures will be needed to meet this year's primary budget surplus target of 1.2 percent of Brazil's gross domestic...

  • *Saudi air offensive in Yemen feeds concern over Mideast crude. NEW YORK, May 12- Oil rose 3 percent on Tuesday, the most in three weeks, as a weak dollar lifted commodities denominated in the currency and OPEC raised slightly its forecast for world oil demand growth. Violence in Yemen also boosted crude prices, raising concerns over the security of Middle East...

  • *Greece used temporary expedient to make IMF payment. ATHENS, May 12- Greek Prime Minister Alexis Tsipras on Tuesday called on lenders to break an impasse in cash-for-reform talks after Athens had to resort to a temporary expedient to make a crucial payment to the IMF. At his second cabinet meeting in three days, Tsipras told ministers Athens was sticking to its "...