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  • Ukraine parliament approves 2016 state budget Thursday, 24 Dec 2015 | 9:12 PM ET

    KIEV, Dec 25- Ukraine's parliament approved a budget for 2016 on Friday, a key condition to secure the next tranche of financial aid under a $17.5 billion International Monetary Fund loan package. Lawmakers had approved a series of laws before the budget vote, including an amendment to tax laws, reducing the tax on employers and unifying the tax rate on personal...

  • *Rome wants "change of attitude" from Brussels, partners. ROME, Dec 24- Italy is not getting enough respect from the European Commission or its partners and it is determined to convince the European Union to adopt bolder, more growth-friendly policies, Rome's top EU affairs official said on Thursday. If such decisions continue to go against Italy, Rome "has the option...

  • *Demand for OPEC crude to fall by 2020- OPEC. TORONTO, Dec 23- Oil rose more than 3 percent on Wednesday in thin, pre-holiday trading, buoyed by a surprise drop in U.S. crude inventories, but prices stayed near multi-year lows as global supplies remained abundant and OPEC lowered the demand outlook for its exports. At 12:40 p.m. EST, West Texas Intermediate futures...

  • *Demand for OPEC crude to fall by 2020- OPEC. *OPEC revises up 2020 tight oil output forecast. LONDON, Dec 23- Oil prices rose on Wednesday, underpinned by an unexpected fall in U.S. crude inventories but were still close to multi-year lows as supplies remained abundant and as OPEC lowered the demand outlook for its exports.

  • *Russia snubs OPEC calls for coordination. Analysts expect production to rise by 0.56 percent to 10.78 million barrels per day in 2016, its highest annual average since the end of the Soviet era in 1991. Russian oil production, which together with sales of natural gas accounts for half of the state budget's revenues, has been steadily rising since 1998, apart...

  • *Report sees lower demand for OPEC crude in 2020 than 2016. *Report sees OPEC gaining oil market share in long run. Demand for OPEC crude will reach 30.70 million barrels per day in 2020, OPEC said, lower than 30.90 million bpd next year.

  • KAMPALA, Dec 22- The World Bank has canceled a $265 million infrastructure project in Uganda after a review found evidence of misconduct by its contractor, including sexual harassment of female workers and road workers having sexual relations with underage girls. The project, which included the construction of about 225 km of road in western Uganda, began in...

  • BRUSSELS, Dec 22- The European Union and the Philippines agreed on Tuesday to start free-trade talks next year in Europe's latest effort to tap into Asia's faster economic growth. A deal would follow the EU's accords with Singapore, Vietnam and South Korea, part of a plan by the world's biggest trading bloc to sign deals with the 10- member Association of South...

  • FRANKFURT/ BRUSSELS, Dec 22- New European Union rules on bank rescues, aimed at ending spectacular bailouts with public money, are already facing a political backlash on worries they may end up hurting small, unsophisticated investors. The directive was a central part of Europe's response to the global financial crisis, which saw hundreds of billions of euros of...

  • *Russia, OPEC pump at near-record rates. NEW YORK, Dec 21- Brent oil cratered to its lowest price in more than 11 years on Monday, as demand for heating oil slumped on warmer-than-normal temperatures and traders tested for a bottom. OPEC and Russia will keep producing at high volumes, increasing pressure on U.S. producers to throttle back production, he said.

  • BRUSSELS, Dec 21- The European Union on Monday extended its economic sanctions against Russia over the conflict in Ukraine until the end of next July, drawing a swift rebuke from the Russian economy minister. The EU has linked the lifting of the sanctions to full implementation of a peace deal in east Ukraine, where more than 9,000 people have been killed in...

  • BRUSSELS, Dec 21- Implementing the biggest shake-up to Europe's fragmented data protection laws in two decades may fail to provide companies with the consistency and simplicity that had been promised across the 28- nation bloc. A patchwork of privacy laws in the European Union, dating back to 1995 when the internet was in its infancy, was criticised for lacking...

  • *Russia, OPEC pump at near-record rates. Brent futures fell by as much as 2 percent to a low of $36.05 a barrel on Monday, their weakest since July 2004, and were down 49 cents at $36.39 by 1332 GMT. OPEC, led by Saudi Arabia, will stick with its year-old policy of compensating for lower prices with higher production, and shows no signs of wavering, even though lower prices...

  • BRUSSELS, Dec 21- The European Union on Monday extended economic sanctions against Russia until the end of July next year after the deadline for raising objections passed without any member state challenging the decision. Sanctions were introduced initially for a year on July 31, 2014, following Russia's seizure of Ukraine's Crimea region.

  • EUROPEAN UNION EXTENDS ECONOMIC SANCTIONS AGAINST RUSSIA UNTIL END OF JULY NEXT YEAR.

  • BRUSSELS, Dec 21- Implementing the biggest shake-up to Europe's fragmented data protection laws in two decades may fail to provide companies with the consistency and simplicity that had been promised across the 28- nation bloc. A patchwork of privacy laws in the European Union, dating back to 1995 when the internet was in its infancy, was criticised for lacking...

  • *Russia, OPEC pump at near-record rates. OPEC, led by Saudi Arabia, will stick with its year-old policy of compensating for lower prices with higher production, and shows no signs of wavering, even though every dollar lower in the oil price brings fresh pain to its poorer members. Brent futures fell by about 2 percent to as low as $36.05 per barrel on Monday, their...

  • UPDATE 6-Brent crude skids to lowest since 2004 Monday, 21 Dec 2015 | 4:26 AM ET

    *Russia, OPEC pump at near-record rates. *Iraq devalues dinar, Azerbaijan ditches forex peg. Oil production is running close to record highs and, with fresh barrels poised to enter the market from the likes of Iran, the United States and Libya, the price of crude is set for its largest monthly percentage decline in seven years.

  • Why 2016 could bring a new Greek crisis Saturday, 19 Dec 2015 | 10:35 PM ET
    Greek Prime Minister Alexis Tsipras

    Next year may bring a host of new troubles for Greece, which just barely overcame a dispute with its international creditors.

  • UPDATE 1-U.S. Senate passes IMF reform in budget bill Saturday, 19 Dec 2015 | 12:58 AM ET

    WASHINGTON, Dec 18- The U.S. Senate on Friday ratified reforms to boost the representation of emerging economies at the International Monetary Fund as part of a budget bill that will clear the way for new industrial powerhouses like China and India to have more clout at the international lender. A sprawling budget deal to keep the U.S. government operating...