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  • LONDON, July 29- Banks from Italy, Ireland, Spain and Austria fared worst in the latest European Union stress test, which the region's banking watchdog said on Friday showed there was still work to do in order to boost credit to the bloc's economy. Italy's Monte dei Paschi, Austria's Raiffeisen, Spain's Banco Popular and two of Ireland's main banks came out with the...

  • LONDON, July 29- Monte dei Paschi, Raiffeisen, Banco Popular and two of Ireland's main banks came out worst in a European Union stress test aimed at cleaning up balance sheets to boost the flow of credit to the bloc's economy. The European Banking Authority which coordinated the test of 51 lenders from across the bloc said the results showed there was still more...

  • *OPEC supply rises by 100,000 bpd to 33.41 million bpd. *Gabon return boosts absolute level of OPEC supply. LONDON, July 29- OPEC's oil output is likely in July to reach its highest in recent history, a Reuters survey found on Friday, as Iraq pumps more and Nigeria manages to export additional crude despite militant attacks on oil installations.

  • July 29- The following table shows OPEC crude oil output in millions of barrels per day in July and June, according to a Reuters survey published on Friday. OPEC has no supply target, having in December 2015 scrapped its output ceiling of 30 million bpd, which it had been exceeding for months. Gabon is included in the survey for the first time after it rejoined OPEC on...

  • *They say Russia targets softer southern/eastern EU states. MOSCOW, July 29- Vladimir Putin will step up Russia's campaign to end European Union sanctions with a visit to Slovenia on Saturday, encouraged by signs his tactic of lobbying what he views as more pliant southern and eastern European states is starting to pay off. Combined with American and Group of...

  • LJUBLJANA, Slovenia— Russian President Vladimir Putin is visiting European Union and NATO- member Slovenia this weekend, signaling a bid to maintain ties amid simmering tensions between the Kremlin and the two Western-led blocs. Still, Slovenia has been careful to portray Putin's visit on Saturday as strictly informal— officially Putin is coming to attend a...

  • BRUSSELS, July 29- Economic growth in the euro zone slowed in the second quarter as uncertainty before the British vote to leave the European Union swirled, data showed on Friday, and economists said it could be a sign of future weaker growth. "The third quarter started on a good footing, but it is probably too soon to start downplaying the potential negative impact...

  • *World Bank No. 2 returns to Indonesia after six years. JAKARTA, July 29- Six years after bowing out of a bruising battle to make Indonesian tycoons pay taxes, new Finance Minister Sri Mulyani Indrawati is back to finish what she started- this time with the full backing of reformist President Joko Widodo. But Indrawati, who was ranked number 37 on the Forbes list of the...

  • BRATISLAVA/ WARSAW, July 28- Britain wants a bespoke model for its future ties with the European Union, Prime Minister Theresa May said on Thursday, during a tour of Eastern European allies aimed at securing support in negotiations on leaving the bloc. In the five weeks since Britons voted to quit the EU, politicians have tried to solve the riddle of how to restrict...

  • BERLIN— German Chancellor Angela Merkel has defended a planned trade deal between the U.S. and the European Union as "absolutely in Europe's interest." Rejecting an industry group's criticism that politicians aren't doing enough to support it, Merkel said Thursday that the Trans-Atlantic Trade and Investment Partnership, or TTIP, is "absolutely right and...

  • Egypt said late on Tuesday it was seeking $4 billion a year over three years from the International Monetary Fund to help plug a funding gap. Egyptian stocks have surged on hopes a deal would revive confidence and allow Egypt to remove restrictions on access to hard currency that have hit manufacturing and trade and made it hard for foreign firms to repatriate...

  • *Madrid, Lisbon still possible face EU aid suspension. BRUSSELS, July 28- The European Commission's decision to spare Spain and Portugal fines over their excessive budget deficits signals a tentative effort to promote more expansionary economic policy in response to Britain's destabilizing vote to leave the European Union. Fiscal hawks in northern Europe...

  • WASHINGTON, July 28- The International Monetary Fund said on Thursday that the size of Egypt's financing program will be determined by a two-week IMF mission to Cairo starting this weekend. He noted that Egypt's quota, or shares in the Fund, are about 2.08 billion Special Drawing Rights- the IMF's unit of account- or about $2.9 billion at current exchange rates.

  • WASHINGTON— The International Monetary Fund was unprepared for the debt crisis that hit Europe and was slow to press for debt relief that might have eased Greece's economic pain and allowed it to pay its bills, an IMF watchdog says. As part of a so-called troika with the European Commission and the European Central Bank, the IMF bailed out Greece, Ireland and...

  • The IMF also did not make a serious attempt to quantify the risk of financial contagion throughout Europe that was used to justify its granting of "exceptional access" funding to Greece when the country's debt was widely viewed internally as not having a high likelihood of repayment. The 30 billion-euro IMF program for Greece needed renegotiation in 2012, and...

  • WASHINGTON, July 28- The International Monetary Fund said on Thursday that the size of Egypt's financing program will be determined by a two-week IMF mission to Cairo starting this weekend.

  • BRATISLAVA, July 28- The European Union seems to be falling in love with itself and needs to use the time before Britain formally starts divorce proceedings to create a new vision of Europe, Slovak Prime Minister Robert Fico said on Thursday. Britain's shock vote to leave the EU in June has led to calls for reforms in the bloc to connect it better to its people after...

  • WARSAW, Poland— British Prime Minister Theresa May made brief stops in two eastern members of the European Union on Thursday, stressing that her government seeks to remain engaged with them— and even intensify ties— despite its plans to leave the bloc. "Britain will remain an outward-looking nation— a strong voice for liberal, free market principles and...

  • DUBLIN, July 28- Ireland's economic recovery has been exceptional but is incomplete and now subject to large downside risks after Britain's vote to leave the European Union, the International Monetary Fund said on Thursday. Ireland's economy has bounced back rapidly since it left an IMF aid programme in 2013 but is considered more vulnerable than any other in...

  • CAIRO, July 28- Egypt expects to receive at least $2 billion within two months of agreeing a three-year $12 billion loan program with the International Monetary Fund, a senior finance ministry official said on Thursday. Egypt announced late on Tuesday it was seeking $4 billion a year over three years from the IMF to help plug a funding gap and restore market...