WASHINGTON— President Barack Obama banned new investments in Crimea on Friday, slapping sanctions on the peninsula that Russia annexed from Ukraine earlier this year. Obama signed an executive order Friday that imposes economic restrictions similar to sanctions imposed by the European Union on Thursday. In a letter to the House and Senate, Obama said the...» Read More
WASHINGTON, Oct 2- The global economy could be stuck in a weak growth rut for a long time as countries struggle to pull free from a past of high debt and unemployment, the head of the International Monetary Fund said on Thursday. Central banks in the United States, Japan, the euro zone and Britain have all sharply lowered rates to boost economic growth.
*Traders speculate OPEC price war looming. LONDON/ DUBAI, Oct 2- Saudi Arabia's decision to slash the official selling price for its oil has sparked trader talk of an emerging OPEC price cutting war, as members of the producer group could compete to defend their market share amid ample supplies and tepid demand. Benchmark Brent crude prices continued to slide...
WASHINGTON, Oct 2- The global economy could be stuck in a weak growth rut for a long time as countries struggle to pull free from a past of high debt and unemployment, the head of the International Monetary Fund said on Thursday. The economic rebound is even weaker than the IMF predicted six months ago, and countries risk getting bound to a prolonged period of...
"I think that the next OPEC meeting will have to deal with the matter." OPEC meets to set its oil output policy on Nov. 27. A second source familiar with OPEC policy said that while the market was weak, with supply exceeding demand, it was too early for OPEC to think of joint action to bolster prices.
KIEV, Oct 2- Ukraine's economy is likely to shrink by 8 percent this year and contract again next year because of the effect of the separatist war in the industrialised east, the World Bank said on Thursday. The bank had previously expected Ukraine's gross domestic product would contract by 5 percent this year and then grow 2.5 percent next year.
UKRAINIAN WORLD BANK CHIEF REPRESENTATIVE SEES UKRAINIAN ECONOMY SHRINKING BY 8 PCT IN 2014 VERSUS PREVIOUS OUTLOOK OF 5 PCT CONTRACTION.
Bertrand Badre, the chief financial officer, who has pushed much of the cost-cutting, received the bonus in "recognition of his skills," according to an internal World Bank blog seen by Reuters. World Bank spokesman David Theis said the bonus was justified given Badre's experience and strong track record at the bank.
BRUSSELS, Oct 1- The installation of a new executive team for the European Union hit a first major obstacle on Wednesday when EU lawmakers ordered Britain's Jonathan Hill to return next week to try again to convince them he could be trusted to oversee financial services in the bloc.
LONDON, Oct 1- Capping bankers' bonuses will not cut risk in the financial system, the International Monetary Fund said on Wednesday, offering Britain moral support in its legal challenge to EU curbs on pay in the financial sector. The European Union has gone further, capping banker bonuses at twice fixed salary.
WASHINGTON, Oct 1- Fighting the Ebola epidemic means confronting the issue of inequality, as people in poor countries have less access to knowledge and infrastructure for treating the sick and containing the deadly virus, the head of the World Bank said.
*Brent seen averaging $103.30, WTI $96.10 in 2015. Brent has averaged near $110 a barrel since 2011 but has fallen sharply since June as U.S. shale oil supplies outstripped expectations and Iraqi and Libyan production has risen despite violence and political unrest in the two OPEC members.
MOSCOW, Oct 1- The International Monetary Fund halved its forecast for Russia's 2015 gross domestic product to 0.5 percent on Wednesday, saying that international tensions had created downside risks to its estimates.
MOSCOW, Oct 1- The International Monetary Fund halved its growth forecast for Russia for 2015 to 0.5 percent in gross domestic product terms on Wednesday, saying that uncertainty over geopolitical tensions brought downside risks to its estimates.
IMF MISSION HEAD SAYS INTRODUCTION OF CAPITAL CONTROLS WOULD NOT HELP RUSSIA, AGREES WITH CENTRAL BANK STANCE AGAINST THE MEASURE.
IMF MISSION HEAD SAYS RUSSIA NEEDS TIGHTER MONETARY POLICY TO REDUCE INFLATION.
IMF MISSION HEAD SAYS 2014 INFLATION TO REACH MORE THAN 8 PCT, KEEPS CAPITAL OUTFLOW FORECAST AT $100 BLN FOR THIS YEAR.
RUSSIA IMF MISSION HEAD SPILIMBERGO SAYS IMF CUTS RUSSIA'S 2015 GDP FORECAST TO 0.5 PCT FROM EARLIER 1.0 PCT, RISKS ARE TILTED TO DOWNSIDE.
*China's PMI steadies at 51.1, just above forecast. *Ample supply, higher OPEC output weighs on prices. Concern over growing oil supply despite conflict in the Middle East and a stronger dollar pushed global benchmark Brent to its lowest since June 2012 on Tuesday, and the same factors are likely to keep a lid on any price recovery.
TO PAY BRAZILIAN COTTON INSTITUTE $300 MILLION TO SETTLE WTO DISPUTE OVER COTTON SUBSIDIES- OFFICIALS FAMILIAR WITH THE SETTLEMENT.
WASHINGTON, Sept 30- The United States is keen to include investor protection in a trade pact being negotiated with the European Union and will work with EU officials to find the right balance, a senior U.S. trade official said on Tuesday.