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  • LONDON, Dec 11- Crude oil prices hit fresh seven-year lows on Friday as the International Energy Agency warned global oversupply could worsen in the new year. Brent crude futures were down 60 cents at $39.13 a barrel at 1058 GMT, bouncing slightly from a session low of $38.90. Prices have tumbled this month after OPEC failed to impose a ceiling on output.

  • SHANGHAI, Dec 11- The People's Bank of China set its official midpoint rate at 6.4358 per dollar prior to the market open on Friday, its weakest level since Aug. 5, 2011, and 0.2 percent weaker than the previous fix of 6.4236. Last week, the International Monetary Fund announced that it would include the yuan in its Special Drawing Rights basket alongside the dollar,...

  • *Market ignores forecast of sharp drop in 2016 non- OPEC supply. Futures of Brent and U.S. crude's West Texas Intermediate struck near seven-year lows for a fourth day in a row in continued fallout from an OPEC meeting last week that abandoned price support measures. But OPEC also struck a bearish chord by saying its group output rose by 230,000 bpd in November to...

  • *Market ignores forecast of sharp drop in 2016 non- OPEC supply. Futures of Brent and U.S. crude's West Texas Intermediate struck February 2009 lows for a fourth day in a row in continued fallout from an OPEC meeting last week that abandoned price support measures. Despite that, OPEC left its forecast for 2016 world oil demand unchanged at 1.25 million bpd.

  • *Ukraine has $3 bln debt to Russia due Dec. 20. *Russia criticizes decision but generally backs IMF. MOSCOW, Dec 10- Russia has no plan to cancel its membership in the International Monetary Fund after the organisation changed its operating rules in a way that may support Ukraine in a debt dispute with Russia, Finance Minister Anton Siluanov said on Thursday.

  • U.N. cuts 2015 global economic growth forecast to 2.4 pct Thursday, 10 Dec 2015 | 11:34 AM ET

    UNITED NATIONS, Dec 10- The United Nations on Thursday said it cut its forecast for global economic growth in 2015 by 0.4 percentage point to 2.4 percent, largely due to lower commodity prices, increased market volatility and slow growth in emerging market economies. The International Monetary Fund, also in the U.N. family, said in October that it had cut its global...

  • *OPEC raises November output by 230,000 bpd, most since 2008. *Sees larger drop in 2016 non- OPEC supply, but raises 2015. "U.S. tight oil production, the main driver of non- OPEC supply growth, has been declining since April," OPEC said in the report.

  • IMF GENERAL COUNSEL SAYS LENDING RULE CHANGE CRITICIZED BY RUSSIA FIXES WEAKNESS IN SYSTEM.

  • IMF defends lending rule change after Russia criticism Thursday, 10 Dec 2015 | 11:00 AM ET

    WASHINGTON, Dec 10- The International Monetary Fund on Thursday defended a change to its lending rules that Russia has criticized as politically motivated and biased toward helping Ukraine. The rule change would allow the IMF to continue supporting countries if they fail to repay official debt- potentially helping Ukraine if it misses a Dec. 20 payment on a $3...

  • BRUSSELS, Dec 10- The European Aviation Safety Agency expressed concern about Thailand's air safety oversight on Thursday but not did include any Thai carriers in an updated list of airlines banned from flying in the European Union. Some analysts had expected the EU could follow the U.S. Federal Aviation Administration, which last week downgraded Thailand's...

  • BRUSSELS, Dec 10- A new data transfer pact between the European Union and Washington will give the EU the right to pull the plug on the deal if it fears the United States is not safeguarding privacy enough, the EU Justice Commissioner said on Thursday. A previous transatlantic data transfer framework, Safe Harbour, was struck down on Oct. 6 by the European Union's top...

  • EU takes Germany to court in car aircon row Thursday, 10 Dec 2015 | 6:00 AM ET

    BRUSSELS, Dec 10- The European Union is taking Germany to court for failing to stop automaker Daimler using a banned, climate-harming coolant in the air conditioners of its Mercedes cars. The European Commission's move on Thursday sets the EU executive against its biggest member state and Germany's powerful manufacturing lobby, three months after Berlin and...

  • SHANGHAI, Dec 10- China's yuan weakened at open on Thursday after the central bank set the midpoint at a more than 4- year low for the second day, a sign Beijing is quietly permitting the currency to depreciate after it was included in the IMF's reserve basket. Last week, the International Monetary Fund announced that it would include the yuan in its Special Drawing...

  • SHANGHAI, Dec 10- The People's Bank of China set its official midpoint rate at 6.4236 per dollar prior to the market open on Thursday, 0.1 percent weaker than the previous fix of 6.4140. Last week, the International Monetary Fund announced that it would include the yuan in its Special Drawing Rights basket alongside the dollar, euro, pound sterling and yen, an...

  • Dec 9- The head of Qatar Airways on Wednesday cast doubt on proposed European Union air traffic agreements that might limit Gulf carriers from flying to European destinations because of what some see as unfair subsidies. Qatar Airways Chief Executive Officer Akbar Al Baker said the effort, which the European Commission announced on Monday, was unlikely to...

  • *EU to assess whether Google News should pay for showing snippets. BRUSSELS, Dec 9- The European Union wants to allow consumers access to their online subscriptions for services like Netflix, Sky and Canal+ when they travel in the 28- member bloc, setting it up for a battle with media groups. Under the proposal, consumers with subscriptions to services such as Sky TV...

  • BRUSSELS, Dec 9- The European Union is looking into whether services such as Google News and Yahoo News should pay to display snippets of news articles, wading into a bitter debate between the online industry and publishers. Google News pulled out of Spain when a law was passed that would have forced it to pay for re-publishing headlines or snippets, and in Germany,...

  • *Moscow holds $3 bln bond from Ukraine due Dec 20. MOSCOW/ KIEV, Dec 9- Russian President Vladimir Putin told his government to take Ukraine to court if it did not repay a $3 billion Eurobond while other Russian officials blasted the International Monetary Fund for softening its lending rules to help "crooks" in Kiev. As Prime Minister Dmitry Medvedev railed against...

  • BRUSSELS/ BERLIN, Dec 9- Germany reaffirmed on Wednesday its opposition to European Commission plans for a bank deposit guarantee scheme and vowed to water down a draft for next week's EU summit which foresees the gradual introduction of such a scheme. In the draft conclusions for the Dec. 17-18 summit, seen by Reuters, European Union leaders will ask their...

  • *EU to assess whether Google News should pay for showing snippets. BRUSSELS, Dec 9- The European Union wants to allow consumers access to their online subscriptions for services like Netflix, Sky and Canal+ when they travel in the 28- member bloc, setting it up for a battle with media groups. Under the proposal, consumers with subscriptions to services such as Sky TV...