World Economy International Organizations

  • Venezuelan soldiers participate in a parade to celebrate the 195th anniversary of the Battle of Carabobo in Caracas, June 24, 2016.

    As his country's economy implodes around him, Venezuelan strongman Nicolas Maduro has resorted to what may be a last-ditch effort to stay in power.

  • BRUSSELS, July 15- EU and U.S. negotiators said on Friday that they still needed to overcome large differences for a transatlantic free trade deal to be sealed this year, and factor in the impending exit from the European Union of Britain, one of the United States' biggest export markets. The two sides are trying to agree on the Transatlantic Trade and Investment...

  • *Schaeuble believes reasonable for UK to make demands. BERLIN/ LONDON, July 15- Germany, just like Britain, will have its own demands when the UK negotiates its new relations with the European Union, the Berlin finance ministry said on Friday, seeking to play down hopes of an easy deal to keep London's financial hub intact. A ministry spokesman clarified comments...

  • LONDON, July 15- Investment bank revenues are likely to fall about 11 percent this year, due in part to uncertainty and lower client activity following Britain's surprise decision last month to leave the European Union, according to Boston Consulting Group. BCG said in a report released on Friday that revenues were likely to fall to $204 billion this year, down...

  • But in the wake of Britain's vote to leave the European Union, BLP has frozen pay and bonuses until November. In an email to staff, its managing partner Lisa Mayhew said the reason was "political and financial uncertainty in the UK following the recent vote to leave the EU". Bank bosses have warned that Brexit represents a threat to London's role as a global financial...

  • FRIDAY, JULY 15 ANKARA- Launch of OECD Economic Survey of Turkey. PHNOM PENH- International Monetary Fund representative in Cambodia holds press conference about economy- 0600 GMT. TUESDAY, JULY 19 LONDON- International Monetary Fund publishes update to World Economic Outlook, including new UK growth forecasts- 1300 GMT.

  • LONDON, July 14- New Prime Minister Theresa May ruthlessly overhauled the British cabinet on Thursday, sacking a raft of ministers, promoting loyalists and putting supporters of Britain's exit from the European Union firmly in charge of negotiating its terms. A day after replacing David Cameron, May told the head of the European Commission that Britain needed...

  • LONDON, July 14- Finance ministers and central bank governors of the G20 group of countries will focus on using all tools at their disposal to promote economic growth when they meet in China next week, U.S. Treasury spokesperson said in an emailed statement after Lew met Britain's newly appointed finance minister Philip Hammond in the British capital.

  • *Iraq to repay all $3.6 bln in arrears to IOCs by end-Sept. BAGHDAD, July 14- Pressured by lower-than-expected oil prices, Iraq will cut non-oil spending in its 2016 budget by 15 percent and take on several billion dollars in international debt, it said in a memo released by the International Monetary Fund on Thursday. Iraq said other financing sources for this...

  • WASHINGTON, July 14- The International Monetary Fund's executive board could still be in position to complete its review of Ukraine's $17.5 billion bailout program this month, a key step necessary to release the next loan tranche, a fund spokesman said on Thursday. Rice added that Ukraine's parliament did not need to pass any additional anti-corruption and...

  • ULAANBAATAR, July 14- China and the European Union agreed to establish a bilateral mechanism to deal with overcapacity in steel, Chinese Foreign Minister Wang Yi said on Thursday. China is by far the world's biggest steel producer and its annual output is almost double that of the 28- nation EU. Rival producers have accused China of selling into export markets at...

  • *Financing of $2 bln in bonds plus loans from US, IMF, World Bank. BAGHDAD, July 14- Iraq, pressured by lower-than-expected oil prices, will cut non-oil spending in its 2016 budget by 15 percent and take on several billion dollars in international debt, it said in a memo which the International Monetary Fund released on Thursday. Iraq said other financing sources for...

  • LONDON, July 14- British consumer confidence fell sharply following the country's vote to leave the European Union, one for the first indicators to capture the post-referendum mood showed on Thursday. Britons voted to leave the European Union on June 23, a shock outcome that sent sterling to a 31- year low and sent many investors across the globe in search of safe...

  • Brent crude oil was up 60 cents at $46.86 a barrel by 1015 GMT. "The oil market is oversupplied, OPEC production is on the rise and we had a rather bearish weekly U.S. oil stats report," said Tamas Varga at London brokerage PVM Oil Associates. The IEA said a glut in the global oil market was persistent and would put a lid on crude prices despite demand growth and declines in...

  • "The oil market is oversupplied, OPEC production is on the rise and we had a rather bearish weekly U.S. oil stats report," said Tamas Varga at London brokerage PVM Oil Associates. Crude stocks in the United States fell less than expected last week, while distillate inventories rose the most since January and gasoline stocks unexpectedly increased, the Energy...

  • LONDON, July 13- David Davis, a strong supporter of Brexit, was appointed the minister responsible for leading Britain's negotiations to leave the European Union by Prime Minister Theresa May. Here are some facts about Davis, 67, Britain's "Secretary of State for Exiting the European Union". -He served as a Foreign Office minister in the government of former Prime...

  • LONDON, July 13- Having fought her way to the top of British politics, new Prime Minister Theresa May will face an even tougher battle in power: plotting a divorce from the European Union that she once opposed but now says must not be halted. Despite having campaigned to remain in the EU before the June 23 Brexit referendum, May, 59, said she would steer Britain through...

  • LONDON, July 13- Britain's tough former interior minister Theresa May became prime minister on Wednesday, promising to champion social justice and rise to the challenge of leading the country out of the European Union. May, 59 assumed office after an audience with Queen Elizabeth and drove straight to her new home of 10 Downing Street, vacated hours earlier by...

  • LONDON, July 13- Theresa May became Britain's new prime minister on Wednesday, promising to carve out a bold new future in the world as she embarks on the monumental task of leading the country out of the European Union. May, 59 assumed office after an audience with Queen Elizabeth and drove straight to her new home of 10 Downing Street, vacated hours earlier by David...

  • LONDON, July 13- Major British lenders expect household and business demand for loans to slow after last month's vote to leave the European Union, the Bank of England said on Wednesday, in another sign the economy may be slowing. Based on conversations with lenders after the June 23 vote, the central bank said banks expected businesses large and small to delay new...