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  • 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...

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

  • 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.

  • 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...

  • BUENOS AIRES, Dec 18- The Inter-American Development Bank said on Friday it will seek to provide Argentina with $5 billion in credits over the coming years as the central bank tries to shore up the precarious reserves left by the previous administration. The news comes as Argentina's new government is negotiating a $5 billion loan deal with a group of...

  • U.S. Senate passes IMF reform in budget bill Friday, 18 Dec 2015 | 12:23 PM 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...

  • Italy's Renzi blasts German policies at EU summit Friday, 18 Dec 2015 | 12:16 PM ET

    BRUSSELS, Dec 18- Italy's Prime Minister Matteo Renzi openly attacked German policies at a European Union summit on Friday, criticising Berlin's stance on banking, energy, migration and Greece. Italy, a frontline state in the migration crisis, has become increasingly frustrated with the bloc's response. It is also critical of new rules to increase the euro...

  • BRUSSELS, Dec 18- The European Union imposed anti-dumping duties on imports of Russian aluminium foil on Friday after its investigation showed the product was sold across the bloc at below market prices, the EU's Official Journal said. A definitive anti-dumping duty of 12.2 percent will be levied on aluminium foil from Russia, which is all made by the Rusal...

  • MOSCOW, Dec 18- Russian Deputy Finance Minister Sergei Storchak said on Friday he saw no point in Russia demanding that the International Monetary Fund halt its aid programme to Ukraine even if Moscow lost a court case centred around a $3 billion debt. Russia plans to take Ukraine to court over the $3 billion Eurobond which is due on Dec. 20. Ukraine has said it has no...

  • CARACAS, Dec 18- Venezuela's Oil Minister Eulogio del Pino fears a "catastrophe" if oil inventories continue accumulating to record levels, but nevertheless backs fellow OPEC member Iran's right to increase production once international sanctions are lifted. Del Pino and Foreign Minister Delcy Rodriguez met this week with OPEC member representatives in...

  • KIEV, Dec 18- The International Monetary Fund said on Friday it was concerned by signs Ukraine's parliament might reject a proposed tax code and budget for 2016, warning that this could further disrupt its $17.5 billion bailout programme. Vice President Joe Biden last week, who in a speech to parliament urged lawmakers to put aside political differences and...

  • LONDON, Dec 18- The European Union plans to extend commodity dealers' exemption from the full panoply of capital requirements faced by banks for another three years to 2020, a document seen by Reuters shows. Under EU capital requirement rules, an exemption for dealers in commodities and energy expires in December 2017. "Under the existing regime, after 31...