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  • Global growth will be disappointing in 2016: Lagarde Wednesday, 30 Dec 2015 | 4:16 AM ET
    IMF Managing Director, Christine Lagarde, speaks during a press conference after meeting ministers and officials from the Gulf Cooperation Council (GCC) on November 8, 2015.

    Global economic growth will be "disappointing" next year, the head of the IMF said in a guest article for German newspaper Handelsblatt.

  • European shares dragged down by weak commodity prices Wednesday, 30 Dec 2015 | 4:03 AM ET

    *FTSEurofirst 300 down 0.5 pct, FTSE 100 down 0.8 pct. Britain's FTSE 100 index of leading shares fell 0.8 percent while Germany's DAX retreated by 0.6 percent. Crude prices have plunged by two-thirds since mid-2014 as soaring output from the Organization of the Petroleum Exporting Countries, Russia and the United States led to a global surplus of between half a...

  • BERLIN, Dec 30- Global economic growth will be "disappointing" next year, the head of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to...

  • NEW YORK/ LONDON, Dec 29- Oil prices jumped 3 percent on Tuesday, recouping the previous day's loss as colder weather encouraged buyers, but traders said prices remained under pressure due to slowing global demand and abundant supplies from OPEC members. Global oil benchmark Brent and U.S. crude's West Texas Intermediate futures settled up more than $1 a barrel,...

  • NEW YORK/ LONDON, Dec 29- Oil jumped more than $1 a barrel on Tuesday as colder weather prompted buying a day after prices slid 3 percent, but slowing global demand and abundant supplies from OPEC members will continue to pressure the market, traders said. A Reuters poll suggested that stockpiles fell 2.5 million barrels last week ahead of inventory reports from...

  • *Iran on track to raise supply next year. NEW YORK/ LONDON, Dec 29- Oil prices jumped about $1 a barrel on Tuesday, as prospects of colder weather in coming weeks inspired buying a day after prices slid 3 percent, but slowing global demand and abundant supplies from OPEC members kept energy markets bearish. A Reuters poll suggested that stockpiles fell 2.5 million...

  • *Demand is slowing in Europe and China. LONDON, Dec 29- Oil prices rose by $1 a barrel on Tuesday in thin trade amid prospects of colder weather in coming weeks but the outlook for 2016 remained bearish due to slowing global demand and abundant supplies from OPEC members. Both crude benchmarks are down by more than two-thirds since mid-2014 on U.S. shale oil output...

  • DUBAI, Dec 29- Saudi Arabia's planned cuts in spending and energy subsidies signal that the world's largest crude exporter is bracing for a prolonged period of low oil prices. The OPEC heavyweight shows no signs of wavering in the long-term oil strategy it has orchestrated since last year. "Saudi Arabia more than anyone else has the capacity to wait out the market...

  • West Texas Intermediate futures were trading at $36.75 per barrel at 0105 GMT, down 6 cents from Monday's close. While output from exporters like Russia, the Organization of the Petroleum Exporting Countries and U.S. shale drillers has been at or near record highs, demand has so far held up strong, preventing oil prices from falling even lower.

  • RIYADH/ DUBAI, Dec 28- Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending cuts, reforms to energy subsidies and a drive to raise revenues from taxes and privatisation. The International Monetary Fund warned in October that Riyadh would run out of money within five years if it did not tighten its...

  • RIYADH/ DUBAI, Dec 28- Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending cuts, reforms to energy subsidies and a drive to raise revenues from taxes and privatisation. The International Monetary Fund warned in October that Riyadh would run out of money within five years if it did not tighten its...

  • *Budget a key condition for unlocking IMF credit. 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 as the embattled country teeters close to bankruptcy. The International Monetary Fund has said it was critical to...

  • 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...