World Economy International Organizations

  • LONDON, Sept 29- Euro zone government bond yields were broadly higher on Thursday, with Finland's 10- year yield moving out of negative territory, as a surprise decision by OPEC to trim crude oil output boosted both oil prices and risk appetite globally. While there was some caution as markets opened on Thursday as to how OPEC would implement such a plan, pushing...

  • NEW YORK, Sept 29- The U.S. dollar hit an eight-day high against the yen on Thursday on reduced appetite for the safe-haven currency a day after OPEC agreed to cut oil output, while easing concerns surrounding the European banking sector helped the euro gain. OPEC agreed on Wednesday to modest oil output cuts in the first such deal since 2008, with the group's...

  • BUENOS AIRES, Sept 28- An official at the International Monetary Fund on Thursday praised ongoing reforms in Argentina, hours before concluding the fund's first consultation in a decade in Latin America's third-largest economy. The visit from IMF officials comes as President Mauricio Macri, who took office in December, throws open Argentina's economy to...

  • MOSCOW, Sept 29- Russia is aiming to keep its oil production at near-record levels despite OPEC's decision to modestly reduce its output, Russian Energy Minister Alexander Novak said on Thursday. Novak's comments are the first high-level response to the deal from non- OPEC member Russia, a major crude producer. Novak said he was not ready to say at what level...

  • ABIDJAN, Sept 29- Economic growth in sub-Saharan Africa is likely to slip to 1.6 percent this year, its lowest level in two decades, due to continuing woes in the continent's largest economies South Africa and Nigeria, a World Bank report said on Thursday. However, other countries, including Ethiopia, Rwanda, and Tanzania, have continued to record GDP growth above 6...

  • *Egypt's Orascom Construction rises on buy-back price. DUBAI, Sept 29- Saudi Arabia's stock market rebounded on Thursday on the back of petrochemical shares, which rallied in response to OPEC's deal to restrain oil output, but the bourse posted a big weekly loss because of government austerity measures. Petrochemical firms, their profit margins closely tied to...

  • *Oil prices slip as investors question OPEC cuts. LONDON, Sept 29- Gold was flat on Thursday after the dollar flip-flopped in the wake of mixed U.S. data and as scepticism grew over whether OPEC members would be able to implement production cuts that could fuel inflation. Gold pared earlier gains in the aftermath of a decision by the OPEC on Wednesday to make modest...

  • *OPEC producers agree output targets for first time in 8 years. *OPEC output cut would do little to reduce oversupply- analysts. LONDON, Sept 29- Oil prices slipped on Thursday as investors questioned whether an OPEC agreement to curb production- the group's first such deal since 2008- would be enough to rebalance a heavily over-supplied market.

  • NEW YORK— The latest on developments in global financial markets:. The price of oil stabilized a day after soaring on news of a preliminary agreement among OPEC nations to cut production in an effort to raise the price of crude. In earnings news, PepsiCo and ConAgra Foods both rose after surprising investors with strong earnings reports.

  • *Oil prices slip as investors question OPEC cuts. LONDON, Sept 29- Gold slipped on Thursday as the dollar strengthened after upbeat U.S. data and on scepticism over whether OPEC members would be able to implement production cuts that could fuel inflation. Gold was also pressured in the aftermath of a decision by the OPEC on Wednesday to make modest output cuts in...

  • *Oil company shares lift global stocks after OPEC deal. LONDON, Sept 29- An agreement by OPEC members to curb output boosted oil company shares on Thursday, lifted the currencies of crude-producing countries, and drove yields on low-risk government debt higher. "Everything you're seeing today is a response to the move in crude and the possible coordination...

  • *Iraq told OPEC meeting to change new ceiling- source. *Iraq's Luaibi complains about OPEC output estimates. ALGIERS, Sept 29- For years, debates in the OPEC conference room were dominated by clashes between top producer Saudi Arabia and arch-rival Iran.

  • *Commodity currencies benefit from OPEC output cut deal. LONDON, Sept 29- The dollar hit an eight-day high against the safe-haven yen on Thursday after an OPEC deal to cut oil output spurred a move into riskier assets, though questions over the efficacy of the agreement left the greenback off its earlier highs. The currencies of oil-exporting countries such as...

  • But the real question is whether this is the start of sustainable gains for the oil price, and much will depend on what OPEC actually does, and how the rest of the producers respond. Firstly, apart from the shock value of delivering an agreement, all OPEC actually did was kick the can down the road to their November meeting. OPEC is an organisation that has been riven by...

  • DUBAI, United Arab Emirates— OPEC nations have agreed in theory that they need to reduce their production to help boost global oil prices during a meeting in Algeria, but a major disagreement between regional rivals Saudi Arabia and Iran still may derail any cut. What happened to oil prices and why can't OPEC agree to anything more binding? That fall largely came...

  • *UK mortgage approvals lowest since Nov 2014- BoE. LONDON, Sept 29- British lenders approved the fewest mortgages in nearly two years last month as the housing market continued to slow after June's vote to leave the European Union, raising the chance of an outright fall in prices next year. However, other figures on Thursday suggest that for now consumers are...

  • *OPEC producers agree output targets for first time in 8 years. *OPEC output cut would do little to reduce oversupply- analysts. LONDON, Sept 29- Oil prices slipped on Thursday as investors questioned whether an OPEC agreement to curb production- the group's first such deal since 2008- would be enough to rebalance a heavily over-supplied market.

  • *Oil prices slip as investors question OPEC cuts. LONDON, Sept 29- Gold traded flat on Thursday, with earlier gains arrested by scepticism over whether OPEC members would be able to implement production cuts that could fuel inflation. "If OPEC ends up achieving its objective, it could significantly change the outlook for global inflation and the need to have a...

  • ALGIERS, Algeria— OPEC's unexpected agreement to trim production shows the cartel still has the resolve— and even desperation— to try to guide oil prices higher. Though limited, the decision came as something of a surprise— expectations were that once again the regional rivalry between Saudi Arabia and Iran would create a stalemate. On Thursday, oil markets were...

  • LONDON, Sept 29- Euro zone government bonds yields were broadly higher on Thursday, with Finland's 10- year yield moving out of negative territory, as a surprise decision by OPEC to trim crude oil output boosted both oil prices and risk appetite globally. While there was some caution as markets opened on Thursday as to how OPEC would implement such a plan, pushing...