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  • RIYADH, March 24- Stronger-than-expected global oil demand should help support crude prices at around $55- $60 a barrel in the next two months despite some signs of a growing glut in the United States, a senior Gulf OPEC delegate told Reuters on Tuesday. Low oil prices may have encouraged demand to pick up particularly in the United States but also in Asia, the Gulf...

  • LONDON, March 24- Leaving the European Union would be disastrous for Britain and harm its economy, Standard Life Chairman Gerry Grimstone said on Tuesday. "It would be disastrous for London and the UK if the UK were to leave the single market," Grimstone told a conference on how to maintain Britain's competitiveness as a financial centre. Grimstone, who also chairs...

  • No signs Russia might leave WTO, director general says Tuesday, 24 Mar 2015 | 7:41 AM ET

    RIGA, March 24- Russia shows no signs of wanting to leave the World Trade Organization, WTO chief Roberto Azevedo said on Tuesday, despite tensions with the West over the Ukraine crisis and disputes with other member states. "Russia has been a party to disputes in the WTO and I think every single member of the WTO including Russia knew that would be the case."

  • *China factory activity contracts- HSBC/ Markit. LONDON, March 24- Brent crude oil held below $56 a barrel on Tuesday on signs of slowing growth in China and as Saudi Arabia said its production was close to an all-time high. The Chinese data followed comments from OPEC kingpin Saudi Arabia that it is pumping around 10 million barrels of crude per day, close to an...

  • NEW YORK, March 24- Tumult in Libya, U.S. rig counts, production plans of the oil exporting cartel and a pact on nuclear relations with Iran can all affect crude supply and demand, but oil traders have kept an equally close watch on retail investors in recent weeks. Right now, the U.S. Oil Fund, one of the best-known of these products, holds about 60,000 crude oil futures...

  • TOKYO, March 24- Japanese Finance Minister Taro Aso said on Tuesday it would be desirable if the China-backed Asian Infrastructure Investment Bank could work with the Asian Development Bank in meeting growing demand for infrastructure financing in Asia. However, Aso, who last week gave cautious approval of the institution that Washington has warned against,...

  • BEIJING, March 24- Chinese Premier Li Keqiang has asked the head of the International Monetary Fund to include China's yuan currency in its special drawing rights basket, state news agency Xinhua said. "China will speed up the basic convertibility of yuan on the capital account and provide more facility for domestic individual cross-border investment and...

  • MANILA, March 24- The Asian Development Bank released its 2015 outlook for developing Asia, spanning 45 countries in Asia and the Pacific. The report is available on the ADB's website www.adb.org For a related story, see. Source: ADB's Asian Development Outlook 2015 Update Central Asia: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan,...

  • DIARY-Emerging Markets Economic Events to April 6 Monday, 23 Mar 2015 | 8:02 PM ET

    MAKATI CITY, Philippines- Asian Development Bank to release Asian Development Outlook Report 2015- 0130 GMT. MANILA- Philippines Investment Forum 2015. Philippines President Benigno S Aquino III, Philippines Finance Secretary Cesar Purisima and Philippines Central Bank Amando M Tetangco Jr are the key speakers. PRAGUE- Czech Republic Finance Minister...

  • The AIIB has been seen as a challenge to the World Bank and Asian Development Bank, institutions Washington helped found and over which it exerts considerable influence. Despite Washington's misgivings, U.S. allies Britain, France, Germany and Italy have said they would join the bank, while Australia, Japan and South Korea are considering doing so.

  • *Schlumberger sees higher oil prices in second half of 2015. NEW YORK, March 23- U.S. crude oil climbed above $47 a barrel on Monday as a declining dollar offset global oversupply concerns stemming from an announcement by Saudi Arabia that it was pumping around 10 million barrels per day, near a record high. Houston- based Schlumberger Ltd, the world's top oilfield...

  • *Wants non- OPEC cooperation on any output cuts. Saudi Arabia has stood firm on output, saying it would only consider cutting it if other producers outside OPEC also joined. Analysts at Barclays forecast on Monday that if OPEC production held near current levels of near 30 million bpd, the market surplus would expand from 900,000 bpd to 1.3 million bpd.

  • *wants non- OPEC cooperation on any output cuts. Saudi Arabia has stood firm on output, saying it would only consider cutting it if other producers outside OPEC also joined. Analysts at Barclays forecast on Monday that if OPEC production held near current levels of near 30 million bpd, the market surplus would expand from 900,000 bpd to 1.3 million bpd.

  • *Saudi wants non- OPEC cooperation on any output cuts. LONDON, March 23- Oil prices fell further on Monday, with Brent dropping below $55 a barrel, after top exporter Saudi Arabia said it would only consider cutting output if other producers outside OPEC did so too. "We repeat that, as for prices, the market determines it," Saudi oil minister Ali al-Naimi said on Sunday,...

  • *Saudi wants non- OPEC cooperation on any output cuts. LONDON, March 23- Oil prices fell further on Monday, with Brent dropping below $55 a barrel, after top exporter Saudi Arabia said it would only consider cutting output if other producers outside OPEC did so too. "We repeat that, as for prices, the market determines it," Saudi oil minister Ali al-Naimi said on Sunday,...

  • *Saudi wants non- OPEC cooperation on any output cuts. Weak demand from top energy consumer China comes at a time when the OPEC kingpin Saudi Arabia has reiterated its decision to keep production unchanged and ride out a market slump, which has roughly halved prices since last June. "We repeat that, as for prices, the market determines it," Saudi oil minister Ali...

  • *Saudi wants non- OPEC cooperation on any output cuts. Yet Riyadh has so far opted to keep its output stable to protect market share against non- OPEC producers such as the United States- where production has soared as a result of the shale exploration boom- and Russia. "We tried, we held meetings and we did not succeed because countries were insisting that OPEC carry...

  • Yet Riyadh has so far opted to keep output stable in a move to defend market share against non- OPEC producers like Russia and the United States, where production has soared as a result of the shale exploration boom. "We tried, we held meetings and we did not succeed because countries were insisting that OPEC carry the burden and we refuse that OPEC bears the...

  • WASHINGTON, March 22- President Barack Obama's administration is proposing that a new Chinese-led development bank over which Washington has voiced concerns work collaboratively with Western development groups like the World Bank, The Wall Street Journal reported on Sunday. The United States, worried about China's growing diplomatic clout, has been...

  • SEOUL, March 23- U.S. crude futures fell on Monday as Saudi Arabia's oil minister said that OPEC will not take sole responsibility for propping up the oil price, and the U.S. dollar started trade in Asia on the defensive on interest-rate uncertainty. "We tried, we held meetings and we did not succeed because countries were insisting that OPEC carry the burden and we...