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  • *OPEC sees increased demand for its oil in 2015. LONDON, Feb 9- Brent crude prices rose above $58 a barrel on Monday after OPEC forecast demand for its oil would be greater than expected in 2015 and the number of U.S. oil rigs hit a three-year low. In a monthly report issued on Monday, OPEC also slashed its forecast for the rate of growth in non- OPEC supply, citing a slowdown...

  • ISTANBUL, Feb 9- The recent slide in global oil prices is a benefit for the world economy and could lead to some upgrades of economic forecasts, Bank of Japan Governor Haruhiko Kuroda said on Monday.

  • LONDON, Feb 9- Latin America's oil producers have become caught in the crossfire between OPEC and the North American shale drillers. The number of active land rigs has fallen sharply in OPEC members Ecuador and Venezuela as well as non-OPEC Bolivia, Colombia and Mexico. Even OPEC producers such as Petroleos de Venezuela and Petroecuador are being forced to cut...

  • ATHENS, Feb 9- Greece's primary budget surplus last year is expected to come in at 2.9 billion euros, Deputy Finance Minister Dimitris Mardas said on Monday. Such a surplus- which comes before debt repayments- would be roughly in line with revised targets set in a European Union/International Monetary Fund bailout. "As for the primary budget surplus... it seems to be...

  • LONDON, Feb 9- OPEC sharply raised its forecast of demand for its own oil in 2015, saying the halving in prices since June would slow production in the United States and other countries much faster than previously thought. OPEC slashed its forecast for the rate of growth in non- OPEC supply by 420,000 bpd from last month's report to 850,000 bpd, partly due to a...

  • *Greece casts long shadow at finance ministers' meeting. ISTANBUL, Feb 8- Group of 20 finance officials look likely to reject a proposal to set countries specific investment targets to spur a global economy which looks increasingly reliant on the United States for growth. The meeting of finance ministers and central bankers in Istanbul comes as Greece casts a...

  • KIEV, Feb 9- Ukraine's government will ask parliament to meet Feb. 23- 27 to discuss budget changes "vital" for the successful completion of talks with the International Monetary Fund, Interfax news agency quoted a deputy prime minister as saying on Monday. An IMF team is in Kiev for talks with Ukrainian authorities about boosting financial support to Ukraine and...

  • LONDON, Feb 9- OPEC sharply raised a forecast of demand for its own oil in 2015, saying the halving in prices since June would slow production in the United States and other countries faster than previously thought. OPEC slashed its forecast for the rate of growth in non- OPEC supply by 420,000 bpd from last month's report to 850,000 bpd, partly due to a slowdown in...

  • Signs of economic pick-up in euro zone - OECD Monday, 9 Feb 2015 | 6:00 AM ET

    The leading indicator, designed to detect turning points in major economies, signaled stable growth in most big economies and signs of a pick-up within the euro zone in Germany, Italy and Spain, the Organization for Economic Cooperation and Development said. "The CLIs indicate stable growth momentum also in the OECD area as whole and in some of the major...

  • ISTANBUL, Feb 9- Bank of England Governor Mark Carney has urged the G20 to mount a "big push" to implement global regulatory reforms, fearing that governments may be tiring of non-stop rulemaking since the financial crisis six years ago. The G20 meeting in Turkey's financial capital this week will kick off discussions on whether there are "unintended...

  • ISTANBUL, Feb 9- The world's 20 biggest economies must focus on higher labour productivity and become more competitive and innovative if they want to deliver on a pledge to boost economic growth, the OECD said on Monday ahead of a G20 meeting. "Labour productivity remains the main driver of long-term growth," the Organisation for Economic Cooperation and...

  • Concern over the ability of the United States to sustain the global economy as most of the world slows will be high on the agenda as the Group of 20 leading economies hold talks in Istanbul on Monday and Tuesday. The meetings come as Greece casts a new shadow over Europe, cheap oil plays havoc with inflation and growth forecasts and a strengthening dollar...

  • ISTANBUL, Feb 8- World financial leaders are likely to agree on Tuesday to cut the number of actions they will take this year to boost growth to only 5-10 priorities per country to make it easier to check if they are being done, European officials said. "We support the Presidency's intention that G20 members agree on a shortlist of measures with the highest growth...

  • Concern over the ability of the United States to sustain the global economy as most of the world slows will be high on the agenda as the Group of 20 leading economies hold talks in Istanbul on Monday and Tuesday. The meetings come as Greece casts a new shadow over Europe, cheap oil plays havoc with inflation and growth forecasts and a strengthening dollar...

  • With Greece's woes casting a shadow over Europe again, cheap oil playing havoc with inflation and growth forecasts, and the strengthening dollar posing a threat to emerging market economies, the meetings come at a critical time. Turkey's Deputy Prime Minister Ali Babacan, who is in charge of the economy, has said tackling sluggish global growth and giving low...

  • LONDON, Feb 8- Meetings of G20 finance ministers and EU leaders top and tail this week with Greece's fate uppermost in policymakers' minds and global turbulence caused by diverging monetary policies and cheap oil coming a close second. Impromptu interest rate cuts have followed from India to Australia and Canada to Denmark, while China has cut bank reserve...

  • LONDON, Feb 7- Oil's dramatic price fall since mid-2014 cannot be explained by changes in production and consumption alone, with hedging and energy firms' high debt levels also playing a part, the Bank for International Settlements said on Saturday. The BIS compared oil's recent fall, which saw prices collapse to below $50 a barrel from levels of above $100, with...

  • ATHENS, Feb 7- Greek Finance Minister Yanis Varoufakis said on Saturday that he would hand his European Union counterparts next week a full plan for a new debt and reform programme.

  • Cross-border lending on the mend in the euro zone Saturday, 7 Feb 2015 | 6:00 AM ET

    DUBLIN, Feb 7- Cross-border lending is growing in the euro zone for the first time since the bloc's financial crisis prompted banks to retreat from highly indebted countries such as Spain, Greece, Ireland and Italy. The overall increase masks big differences on a country by country basis with cross-border loans to France and Italy growing by 9 percent and 4...

  • ATHENS/ BRUSSELS, Feb 6- Greece's new leftist-led government, isolated in the euro zone and under pressure from the European Central Bank, said on Friday it wanted no more bailout money with strings attached from the European Union and International Monetary Fund. The official said Greece was in effect asking for a "bridge agreement" to keep state finances...