×

World Economy International Organizations

  • *OPEC to meet in Kuwait for monitoring meeting. NEW YORK, March 24- Oil rose modestly on Friday in a spate of late-day activity, but fell on the week as concerns persisted over an excess of crude. The official said the expected drop, in line with OPEC's agreement, could help draw down U.S. inventories that stood at a record 533 million barrels last week- stocks that have in...

  • ABUJA, March 24- The World Bank said on Friday it has approved a $200 million loan to Nigeria to support the government's effort to boost small and mid-scale farmers. Nigeria slipped into its first recession in 25 years last year, brought on by low prices for its mainstay, crude oil. Nigeria spends $20 billion a year importing food.

  • LONDON, March 24- No evidence has emerged of cheating on the OPEC/ non- OPEC production agreement so far. Charles Goodhart was a Bank of England official and he was expressing the bank's frustration that any measure of the money supply it started targeting ceased to be a good target soon after it was chosen. The question is whether OPEC and non- OPEC countries will...

  • *But OPEC supplies to Asia up more than 5 pct since January. *OPEC to meet in Kuwait for monitoring meeting. LONDON, March 24- Oil edged higher on Friday, boosted by hopes that an OPEC output cut was beginning to balance a long-oversupplied market, but benchmark prices were on track for weekly losses as concerns persisted over an excess of crude.

  • *IMF says further actions "urgently needed" to boost Nigeria economy- report. *Nigeria is in first recession in 25 years. ABUJA, March 24- The International Monetary Fund is expected to warn Nigeria its economy needs urgent reform, according to a report seen by Reuters that could delay talks over $1.4 billion in much-needed international loans.

  • The size of Greece's primary surplus- the budget balance before debt-servicing costs- is a source of contention between euro zone governments and the International Monetary Fund, which believes the surplus in 2016 was only 0.9 percent. Under Greece's 86 billion euro bailout programme, the third since 2010, Athens was supposed to reach a primary surplus of 0.5...

  • *But OPEC supplies to Asia up more than 5 pct since January. *OPEC to meet in Kuwait for monitoring meeting. LONDON, March 24- Oil edged higher on Friday, boosted by hopes that an OPEC output cut was beginning to balance a long-oversupplied market, but benchmark prices were on track for weekly losses as concerns persisted over an excess of crude.

  • ROME— The Latest on the upcoming European Union summit:. The White House Office of the Press Secretary released a statement congratulating the European Union on the sixtieth anniversary of the 1957 Treaties of Rome and the founding of the European Economic Community. Juncker said at a social summit in Rome that, "We are not far away: significant progress has been...

  • ROME— Posing with Pope Francis in front of Michelangelo masterpiece "The Last Judgment" at the Vatican, European Union leaders started their weekend pilgrimage to Rome with the hope that a visit to the cradle of their project of unity can somehow rekindle the vigor of youth. More and more, it looks like that future will have less unanimity and more decisions where...

  • ATHENS, March 24- Greece will support a declaration marking the European Union's 60th birthday but needs the bloc's backing against International Monetary Fund demands on labour reforms, Greek Prime Minister Alexis Tsipras said ahead of an EU Summit in Rome. "Nevertheless, in order to be able to celebrate these achievements, it has to be made clear, on an official...

  • ATHENS, March 24- Greece will support a declaration marking the European Union's 60th birthday but needs the bloc's backing against International Monetary Fund demands on labor reforms, Greek Prime Minister Alexis Tsipras said ahead of an EU Summit in Rome. "Nevertheless, in order to be able to celebrate these achievements, it has to be made clear, on an official...

  • *OPEC favours cuts extension, counts on Russia- sources. Oil prices have risen since November when the Organization of the Petroleum Exporting Countries reached its first deal to lower output since 2008, with some non- OPEC producers, including Russia, joining the move. As oil prices are still under pressure, OPEC sources told Reuters this week that Russia and...

  • The model is very different from most other OPEC and non- OPEC producers that rely more heavily on spot sales to refiners and traders. And Saudi Arabia's commitment to reduce production under the accord with other OPEC and non- OPEC countries reached towards the end of 2016 creates a tension with its customer-focused strategy. In fact, Aramco has so far cut...

  • BRASILIA, March 23- The European Union has asked Brazil to voluntarily suspend all shipments of meat to its member countries to avoid imposing a ban that would take time to lift, but the Brazilian government has not agreed, EU diplomats in Brasilia told Reuters on Thursday. EU ambassadors have been seeking more information on the irregularities discovered in...

  • *OPEC cuts began on Jan. 1 but stockpiles still climbing. OPEC's largest producer, Saudi Arabia, expects crude exports to the United States in March will fall by around 300,000 barrels per day from February, in line with the supply-cut agreement OPEC struck in November, a Saudi energy ministry official said. OPEC has broadly met its commitments to reduce output, but...

  • The North American Free Trade Agreement with Mexico and Canada will top the list of trade deals to be reviewed, which affect 20 countries from the Americas to Asia, the officials told Reuters. Politico first reported the plan for the two orders, quoting a senior administration official as saying the trade orders would help shift the White House narrative "to a...

  • BRASILIA, March 23- The European Union has asked Brazil to voluntarily suspend all shipments of meat to its member countries to avoid imposing a ban that would take time to lift, but the Brazilian government has not agreed, EU diplomats in Brasilia told Reuters on Thursday. EU ambassadors have been seeking more information on the irregularities discovered in...

  • BRASILIA, March 23- The European Union asked Brazil to voluntarily suspend all shipments of meat to its member countries to avoid imposing a ban that would take time to lift but the Brazilian government did not agree, EU diplomats in Brasilia told Reuters on Thursday.

  • *OPEC cuts began on Jan. 1 but stockpiles still climbing. Benchmark Brent crude oil settled at $50.56 a barrel, down 8 cents on the day and holding above Wednesday's slide to $49.71, its lowest level since Nov. 30 when OPEC announced plans to cut output. OPEC has broadly met its commitments to reduce output, but non- OPEC producers have yet to fully deliver on pledged...

  • BRUSSELS, March 23- The European Commission could introduce EU passporting and lower regulatory requirements for financial technology firms, moves that could undercut London's leading position in "fintech" as Britain gets ready to leave the European Union. The EU executive's vice president Valdis Dombrovskis said on Thursday that the Commission is...