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  • Nepal requests IMF loan program -IMF spokesman Thursday, 11 Jun 2015 | 10:33 AM ET

    WASHINGTON, June 11- The International Monetary Fund has received a request for financial assistance from Nepal that could total up to $50 million this year and $124 million overall. A spokesman said on Thursday that a mission will be going to Kathmandu later this month. The funds will help the country recover after a catastrophic earthquake hit April 25.

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. LONDON, June 11- Oil prices continued to decline on Thursday due to a stronger dollar and a gloomy economic forecast by the World Bank, while a bullish International Energy Agency report on global demand failed to dispel concerns over a supply glut. In its twice-yearly Global Economic Prospects report, the...

  • *EU president says Greece needs to take decisions. *Greece faces default at end June without deal. BRUSSELS, June 11- The European Union bluntly warned Greek Prime Minister Alexis Tsipras on Thursday that time was up and he should stop playing with his cash-strapped country's future and instead take crucial decisions to avoid a devastating default.

  • DUBLIN, June 11- Ryanair is unlikely to agree to sell its 30 percent stake in Irish airline Aer Lingus until after an European Union competition probe that could take months, Chief Executive Michael O'Leary told Reuters on Thursday. British Airways owner International Airlines Group's proposed 1.36 billion euro offer for Aer Lingus was recommended by the...

  • Kazakhstan to join WTO after 20 years of talks Thursday, 11 Jun 2015 | 7:04 AM ET

    GENEVA, June 11- Kazakhstan has completed the negotiations needed to join the World Trade Organization, the Geneva- based trade body said in a statement, and is on track to become the 162nd WTO member by the end of the year. Kazakhstan is part of the Eurasian Economic Union, a regional trade grouping that includes Russia, Armenia, Kyrgyzstan and Belarus and has common...

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. LONDON, June 11- Oil prices fell on Thursday due to a stronger dollar and a gloomy economic outlook from the World Bank, while a bullish report about global demand from the International Energy Agency failed to dispel concerns about a supply glut. In its twice-yearly Global Economic Prospects report, the...

  • *IEA sees higher 2015 demand growth than OPEC, U.S. govt. *Sees OPEC output staying high, lifts non- OPEC supply view. The Paris- based agency also pointed to "exceptionally high" growth in global supplies, forecasting OPEC crude production would remain near May's multi-year high and boosting its projection of supplies this year from other producers.

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. LONDON, June 11- Oil prices steadied on Thursday as a bullish report from the International Energy Agency agency balanced a gloomy outlook from the World Bank, which cut its global economic growth forecast. But the market response was cautious after a downbeat assessment by the World Bank, which predicted...

  • UPDATE 1-World oil demand jumps after price slump - IEA Thursday, 11 Jun 2015 | 4:48 AM ET

    *IEA sees higher 2015 demand growth than OPEC, U.S. govt. *Sees OPEC output remaining high, lifts non- OPEC supply view. Prices collapsed from $115 in June 2014 in a decline that deepened after OPEC refused to prop them up and chose instead to defend market share.

  • World oil demand jumps after price slump - IEA Thursday, 11 Jun 2015 | 4:00 AM ET

    Prices collapsed from $115 in June 2014 in a decline that deepened after OPEC refused to prop up prices and chose instead to defend its market share. And the IEA raised its forecast of supply growth from non- OPEC producers this year by 195,000 bpd to 1 million bpd, citing an upward revision to U.S. data and fewer summer maintenance shutdowns in other regions.

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. SINGAPORE, June 11- Crude oil futures fell on Thursday as the World Bank cut its global economic growth forecast, ending a two-day rally triggered by a sharp U.S. inventory drawdown. In its twice-yearly Global Economic Prospects report, the World Bank predicted the global economy would expand 2.8 percent...

  • Oil prices fall as World Bank cuts economic growth outlook Wednesday, 10 Jun 2015 | 11:09 PM ET

    *World Bank cuts world growth outlook to 2.8 pct from 3 pct. SINGAPORE, June 11- Crude oil futures fell early on Thursday as the World Bank cut its global economic growth forecast, ending a two-day rally triggered by a sharp U.S. inventory drawdown. In its twice-yearly Global Economic Prospects report, the World Bank predicted the global economy would expand 2.8...

  • SINGAPORE, June 11- U.S. crude futures fell early on Thursday as a cut in the World Bank's global growth outlook pulled them away from one-month highs, ending a two-day rally on a big U.S. stock drawdown. Front month U.S. crude had fallen 33 cents to $61.10 a barrel by 0032 GMT. *The World Bank predicted that India would be the fastest-growing major economy for the first...

  • WASHINGTON, June 10- Ukraine cannot wait until September to reach an agreement with its creditors to find some $15.3 billion in savings before it is forced to call a moratorium on debt payments, Finance Minister Natalia Yaresko said on Wednesday. She also repeated that she expects the International Monetary Fund to release its next $1.7 billion tranche of aid...

  • ATHENS, June 10- Ratings agency Standard& Poor's downgraded Greece's sovereign rating deeper into junk territory on Wednesday, questioning whether its debt is sustainable after the government delayed a payment to the International Monetary Fund. Greece exercised its right to group all its payments to the IMF due in June and pay them before the end of the month.

  • *Britain to hold in-out EU referendum by end-2017. LONDON, June 10- Britain wants a guarantee from the European Union that it will not be penalised for remaining outside the euro zone, finance minister George Osborne said on Wednesday, setting out one key demand in London's renegotiation with the bloc. Cameron has said he wants to keep Britain inside the EU, but also...

  • WASHINGTON, June 10- The World Bank on Wednesday cut its global growth outlook for this year and urged countries to "fasten their seat belts" as they adjust to lower commodity prices and a looming rise in U.S. interest rates. "We at the World Bank have just switched on the seat belt sign," Basu said in a press conference in Washington. But the World Bank cut its 2015 growth...

  • IMF's "never again" experience in Greece may get worse Wednesday, 10 Jun 2015 | 2:24 PM ET

    *IMF has lent more to Athens than to any other borrower. BRUSSELS, June 10- For the International Monetary Fund, five years of playing junior partner in European bailouts for Greece has been a "never again" experience, and the worst may be yet to come. Now Greece may be about to become the first European nation to default on the IMF, putting it in exclusive company with...

  • UK PM Cameron says plans clampdown on non-EU immigration Wednesday, 10 Jun 2015 | 9:05 AM ET

    LONDON, June 10- The British government plans to significantly reduce immigration from outside the European Union, Prime Minister David Cameron said on Wednesday, teeing up a confrontation with business groups who fret their supply of skilled workers will be cut. Cameron has already set out plans to discourage EU migration as part of his efforts to...

  • As negotiations on a deal to prevent Athens from defaulting on its debts reach a critical stage, a French source said no meeting between the leaders of Germany, France and Greece was scheduled for Wednesday. This appeared to contradict a Greek government schedule issued on Tuesday that Prime Minister Alexis Tsipras would meet Chancellor Angela Merkel and...