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World Economy International Organizations

  • *OPEC/ non- OPEC show 86 pct compliance with cuts in Jan- sources. NEW YORK, Feb 23- Oil prices rose on Thursday but gains were pared after U.S. government data showed a seventh straight build in crude stocks, suggesting high inventories could undermine OPEC's move to cut output. OPEC and producers including Russia aim to cut production by around 1.8 million barrels...

  • BRUSSELS, Feb 23- European Commission President Jean-Claude Juncker said on Thursday that the EU should make it easier for some member states to deepen their integration in some areas without the whole bloc following suit. The European Union executive will make proposals in a high-profile policy White Paper it will publish next week, Juncker said in a speech...

  • GENEVA/ BRUSSELS, Feb 23- Russia lost its appeal on Thursday against a World Trade Organization ruling on its ban on imports of European Union pigs and pork products. Thursday's ruling means Russia will be expected to bring its rules into line with the WTO's. If the EU is not satisfied that it has done so, it could ask to be allowed to impose sanctions on Russia to...

  • NEW YORK, Feb 23- Oil prices rose but gains were pared Thursday after U.S. government data showed a seventh straight build in crude stocks, suggesting high inventories could undermine OPEC's move to cut output. OPEC and producers including Russia aim to cut production by around 1.8 million barrels per day to drain an oversupply that has kept prices depressed for...

  • GENEVA, Feb 23- Russia lost its appeal on Thursday against a World Trade Organization ruling on its ban on imports of European Union pigs and pork products. Russia imposed the ban after a handful of cases of African swine fever in some EU areas in 2014, invoking sanitary and phytosanitary measures allowed under WTO rules. Russia appealed, and the WTO's Appellate...

  • WORLD TRADE ORGANIZATION APPEAL JUDGES UPHOLD EUROPEAN UNION COMPLAINT ABOUT RUSSIAN IMPORT BAN ON PIGS AND PORK PRODUCTS.

  • WASHINGTON, Feb 23- The International Monetary Fund on Thursday urged Nigeria to step up its economic reform efforts before the opportunity for reforms becomes more limited. "Urgency is needed in implementing a coherent and credible package of monetary, fiscal and structural policies as the window for bold reforms is closing as the 2019 elections are...

  • WASHINGTON, Feb 23- The International Monetary Fund will only consider a financial contribution to the bailout program for Greece after there has been full discussion on economic reforms and debt restructuring, IMF spokesman Gerry Rice said on Thursday.

  • TREASURY SECRETARY MNUCHIN SPOKE ABOUT GREECE AS PART OF WIDE-RANGING PHONE CALL EARLIER THIS WEEK, DECLINES COMMENT ON SPECIFICS.

  • IMF SPOKESMAN SAYS NIGERIAN AUTHORITIES HAVE NOT APPROACHED IMF FOR A PROGRAM, BUT STANDS READY TO HELP SHOULD NIGERIA MAKE A REQUEST FOR FINANCIAL ASSISTANCE.

  • IMF SPOKESMAN SAYS IMF PARTICIPATION ON GREECE IS CONTINGENT ON DISCUSSIONS WITH OTHERS ON ECONOMIC REFORM POLICIES AND DEBT RELIEF.

  • LONDON, Feb 23- Oil prices rose more than $1 a barrel on Thursday after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. OPEC and producers including Russia aim to cut production by around 1.8 million barrels per day to drain an oversupply that has kept prices depressed for more...

  • MADRID— Spain's National Court has sentenced Rodrigo Rato, a former head of the International Monetary Fund, to 4 ½ years in prison for misusing a Spanish bank's corporate credit card. The court convicted Rato of unlawful misappropriation of funds during his 2010-12 leadership of Bankia, a bank that later had to be bailed out. Rato was IMF chief from 2004 to 2007...

  • ISTANBUL, Feb 23- Iran said on Thursday an increase in oil prices to more than $55 per barrel was not in the interest of OPEC as it would lead to a rise in output by non- OPEC producers, the semi-official Fars news agency reported. "If oil prices specifically surge over $55 or $60 per barrel, non- OPEC producers will increase their crude production to benefit the most from...

  • LONDON, Feb 23- Oil prices rose more than $1 a barrel on Thursday after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. OPEC and producers including Russia aim to cut production by around 1.8 million barrels per day to drain an oversupply that has kept prices depressed for more...

  • LONDON, Feb 23- European Union regulators can use discretion in enforcing a new rule for derivatives from next week as long as firms show they are making an effort to comply with changes which some said they had not had enough time to be ready for. The EU's European Securities and Markets Authority, the European Banking Authority, and the European Insurance and...

  • KHOBAR, Saudi Arabia, Feb 23- Saudi Aramco's initial public offering could encourage other Gulf countries to list their oil assets, a leading regional economist said, but the oil giant must clear uncertainties over taxation, OPEC policy and ownership of crude. Nasser Saidi, a former economy minister of Lebanon, told Dubai Eye Radio in an interview broadcast on...

  • LONDON, Feb 23- Oil prices rose on Thursday after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. OPEC and producers including Russia aim to reduce production by around 1.8 million barrels per day in an attempt to drain an oversupply that has kept prices depressed for more than...

  • LONDON, Feb 23- Oil prices rose on Thursday after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. OPEC and producers including Russia aim to reduce production by around 1.8 million barrels per day in an attempt to drain an oversupply that has kept prices depressed for more than...

  • That added to optimism earlier in the week when the Organization of the Petroleum Exporting Countries said a deal with other producers including Russia to curb output was showing a high level of compliance. However, for prices to break out of their trading ranges, the market needs to see signs that OPEC inventories are falling, said Tony Nunan, oil risk manager at...