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World Economy International Organizations

  • *OPEC- led production curbs expected to be extended. NEW YORK, May 12- Oil prices fell modestly on Friday, pulling back after two days of gains, as concern over U.S. production took some of the shine out of optimistic signals from OPEC this week about output cuts. "The market overall is trying to balance OPEC and non- OPEC production cuts with increasing production all...

  • BARI, Italy, May 12- G7 finance officials have raised concerns about risks to global growth from the Trump administration's policy proposals including tax reform, a senior U.S. Finance ministers from the Group of Seven- the United States, Canada, Japan, France, Germany, Italy and Britain- are holding two days of talks on the global economy, taxation and terrorist...

  • CAIRO, May 12- The International Monetary Fund said on Friday it had reached a staff-level agreement with Egypt on a second loan instalment that would make available about $1.25 billion. In a statement at the conclusion of an IMF mission to Egypt, team leader Chris Jarvis said: "The IMF staff team and the Egyptian authorities have reached a staff-level agreement...

  • CAIRO, May 12- The International Monetary Fund said on Friday it had reached a staff-level agreement with Egypt on a second loan installment that would make available about $1.25 billion. In a statement at the conclusion of an IMF mission to Egypt, team leader Chris Jarvis said: "The IMF staff team and the Egyptian authorities have reached a staff-level agreement...

  • IMF SAYS IT HAS REACHED STAFF LEVEL AGREEMENT FOR SECOND LOAN INSTALMENT TO EGYPT.

  • BARI, Italy, May 12- French finance minister Michel Sapin said he and other ministers from leading economies had told U.S. Sapin told reporters on the sidelines of a meeting of top finance officials from the Group of Seven economies on Friday that policies could be adjusted as the world economy changed. The G7 finance ministers and central bank governors meeting...

  • *Canadian dollar at C $1.3710, or 72.94 U.S. cents. TORONTO, May 12- The Canadian dollar edged lower against its broadly weaker U.S. counterpart on Friday, but kept some distance from a recent 14- month low as prices of oil held on to this week's gains. week ago, edged up 0.17 percent to $47.91 a barrel, helped by expectations of an extension of OPEC- led output cuts and...

  • *OPEC- led production curbs expected to be extended. LONDON, May 12- Oil prices rose slightly on Friday, on track for their biggest weekly gain in five weeks, helped by expectations of an extension of OPEC- led output cuts and buoyed by falling U.S. crude inventories. OPEC members and other producers including Russia pledged to reduce their output by almost 1.8...

  • *OPEC- led production curbs expected to be extended. LONDON, May 12- Oil prices on Friday were on track for their biggest weekly gain in five weeks, helped by expectations of an extension of OPEC- led output cuts and buoyed by falling U.S. crude inventories. OPEC members and other producers including Russia pledged to reduce their output by almost 1.8 million barrels...

  • BARI, Italy, May 12- The International Monetary Fund and euro zone government lenders need more time to reach an agreement on debt relief for Greece because the euro zone is still not sufficiently clear in its intentions, IMF chief Christine Lagarde said on Friday. Top euro zone officials and Lagarde met on Friday on the sidelines of a G7 finance ministers meeting...

  • LONDON, May 12- Oil prices traded largely flat on Friday, supported by expectations of an extended OPEC- led production cut and falling U.S. crude inventories but capped by concerns over global oversupply. Analysts said a larger-than-expected fall in U.S. crude inventories last week, by 5.3 million barrels, continued to keep Brent above $50, with the data viewed as...

  • BRUSSELS, May 12- The European Union has imposed definitive anti-dumping duties on Chinese imports of seamless pipes and tubes of iron or steel to protect its industry from steel overcapacity. In a notice published in the official journal on Friday, the European Commission said it was imposing definitive anti-dumping duties after an investigation on a...

  • BEIJING, May 12- China's Commerce Ministry said it was willing to work with the European Union to resolve the problems facing the steel sector after the EU Commission said it would slap anti-dumping duties on Chinese seamless steel pipe. "China is willing to strengthen communication with the European Union to appropriately deal with the problems facing the...

  • SINGAPORE, May 12- Oil prices rose on Friday as traders expected OPEC- led production cuts to extend beyond the middle of this year, and as U.S. crude inventories fell to their lowest levels since February. "Net length is at its lowest level since November 2016, which could support a significant price rally if OPEC does extend production cuts," Jefferies added.

  • MEXICO CITY, May 11- Mexico said on Thursday it had called U.S. President Donald Trump's bluff over his suggestion he only decided to stay in the North American Free Trade Agreement as a favor to the leaders of Mexico and Canada after they asked him to renegotiate the deal. However, Mexico's government said it had sent a very different message to the United States...

  • SINGAPORE, May 12- Oil prices were stable on Friday as traders expected OPEC- led production cuts to extend beyond the middle of this year, and as U.S. crude inventories fell to their lowest levels since February. "Net length is at its lowest level since November 2016, which could support a significant price rally if OPEC does extend production cuts," Jefferies added.

  • SINGAPORE, May 12- Oil prices were stable on Friday as traders expected OPEC- led production cuts to extend beyond the middle of this year, and as U.S. crude inventories fell to their lowest levels since February. "Net length is at its lowest level since November 2016, which could support a significant price rally if OPEC does extend production cuts," Jefferies added.

  • In the second day of a three-day mission to Brazil, Raúl Urteaga, general coordinator of international affairs at Mexico's Ministry of Agriculture, said the main purpose of the visit is to accelerate business contacts between the two countries as part of broader efforts to diversify Mexico's trade ties with nations other that the United States.

  • WASHINGTON, May 11- The U.S. Senate on Thursday approved President Donald Trump's nominee for U.S. Trade Representative, a critical position ahead of renegotiations of the North American Free Trade Agreement with Canada and Mexico. Delays in Senate confirmation of veteran trade lawyer Robert Lighthizer more than 100 days after his nomination have set back...

  • *Central European, African countries to join OPEC cuts. *OPEC sees much higher oil supply from rivals in 2017. NEW YORK, May 11- Oil prices rose for a second day on Thursday, closing more than 1 percent higher as support grew for OPEC output cuts a day after the U.S. government reported a big draw in crude inventories, boosting confidence that a global glut might diminish.