World Economy International Organizations

  • TOKYO, Sept 1- Saudi Arabia's minister of foreign affairs said on Thursday that it would be reasonable for the kingdom to go along with other producers in changes to oil production. Adel al-Jubeir, speaking at an event in Tokyo, said OPEC and non- OPEC oil producers were increasingly moving towards a common position. Members of the Organization of the Petroleum...

  • Adel al-Jubeir, speaking at an event in Tokyo, said OPEC and non- OPEC oil producers were increasingly moving towards a common position. Members of the Organization of the Petroleum Exporting Countries are due to meet informally in Algeria on the sidelines of the International Energy Forum on Sept. 26-28, and are expected to seek to revive a global output freeze...

  • BEIJING, Sept 1- A top European business lobby warned China on Thursday that it risked a protectionist backlash unless it opened its markets faster to foreign investment, saying the current unbalanced access for foreign companies was "not politically sustainable". Progress on China's economic reforms has been "highly disappointing", the European Union...

  • WASHINGTON, Aug 31- The United States has accused the European Union of grabbing revenue intended for U.S. coffers when it ordered Apple Inc to pay up to $14.5 billion in back taxes, a decision that could cause friction at an international summit in China next week. "I have been concerned that it reflected an attempt to reach in to the U.S. tax base to tax income that...

  • Aug 31- The International Monetary Fund said on Wednesday that it would "be in a position" to lift its censure on Argentina later this year after recent changes the country has made to the way it reports official economic data. The Indec overhaul- which saw many former section directors fired- was seen as a crucial step in Macri's efforts to open Argentina to...

  • WASHINGTON, Aug 31- U.S. tax law gives the Obama administration power to double tax rates for European companies should it choose to dramatically escalate a dispute with the European Union over Apple's tax bill. Treasury on Wednesday declined to comment on whether Washington was considering such drastic measures, which Democratic and Republican lawmakers...

  • Aug 31- The International Monetary Fund said on Wednesday that it would "be in a position" to lift its censure on Argentina later this year after recent changes the country has made to the way it reports official economic data.

  • BEIJING, Aug 31- Canada will apply to join the China-backed Asian Infrastructure Investment Bank, or AIIB, Canadian and bank officials said on Wednesday, making it the latest ally of the United States to join the new international development bank. The multilateral institution, seen as a rival to the Western-dominated World Bank and Asian Development Bank, was...

  • WASHINGTON, Aug 31- The United States has accused the European Union of grabbing revenue intended for U.S. coffers when it ordered Apple Inc to pay up to $14.5 billion in back taxes, a decision that could cause friction at an international summit in China next week. Lew said making Apple pay higher taxes in Ireland could let the company deduct those payments from...

  • WASHINGTON, Aug 31- The United States accused the European Union of grabbing revenue intended for U.S. coffers when it ordered Apple Inc to pay up to $14.5 billion in back taxes, a decision that could come up at an international summit in China next week. Treasury Secretary Jack Lew said on Wednesday at an event to discuss Washington's position ahead of a meeting of...

  • Treasury sought to keep pressure on the European Union to rescind a ruling that Apple Inc pay up to $14.5 billion in back taxes, a move Washington says breaches international tax rules and sets the stage for more actions against U.S. companies. The tax deal between Apple and Ireland that allowed the U.S. technology giant pay a tax rate that the European Commission...

  • Aug 31- The following table shows OPEC crude oil output in millions of barrels per day in August and July, according to a Reuters survey published on Wednesday. OPEC has no supply target. The July output figures for Saudi Arabia, Nigeria and Iraq were amended, resulting in a 50,000- bpd upward revision to OPEC's production that month.

  • *OPEC supply rises by 40,000 bpd to 33.50 million bpd. LONDON, Aug 31- OPEC's oil output is likely in August to reach its highest in recent history, a Reuters survey found on Wednesday, as extra barrels from Saudi Arabia and other Gulf members make up for losses in Nigeria and Libya. Production in top OPEC exporter Saudi Arabia has likely reached a fresh record, sources...

  • SHANGHAI, Aug 31- The World Bank has set an indicative yield range for three-year Special Drawing Right denominated bonds set for issue in China at 0.4-0.7 percent, the Shanghai Clearing House announced on its website. The World Bank has approval from the People's Bank of China for a 2 billion SDR program. The issue will be the first SDR bond in 35 years and is part of...

  • BRUSSELS/ DUBLIN, Aug 30- The European Commission ordered Apple Inc to pay Ireland unpaid taxes of up to 13 billion euros on Tuesday as it ruled the firm had received illegal state aid. Apple and Dublin said the U.S. company's tax treatment was in line with Irish and European Union law and they would appeal the ruling, which is part of a drive against what the EU says are...

  • BRUSSELS/ DUBLIN, Aug 30- The European Commission ordered Apple Inc to pay Ireland unpaid taxes of up to 13 billion euros on Tuesday as it ruled the firm had received illegal state aid. Apple and Dublin said the U.S. company's tax treatment was in line with Irish and European Union law and they would appeal the ruling, which is part of a drive against what the EU says are...

  • *Senator who chaired hearings blames IRS, says EU' fills vacuum'. BRUSSELS, Aug 30- The United States is furious at the European Union for handing Apple Inc a $14.5 billion tax demand on Tuesday but EU officials say it was Washington which put them on to the scheme in the first place. "The IRS has failed to stake a claim for U.S. taxes on those revenues," he said in a statement,...

  • YENAGOA, Nigeria, Aug 30- A militant group said on Tuesday it attacked a pipeline operated by a subsidiary of Nigeria's state oil company in the country's southern Delta region, just a day after the most prolific rebel group in the restive energy hub said it had halted hostilities. OPEC member Nigeria has seen its oil output fall by around 700,000 barrels a day to...

  • BAGHDAD, Aug 30- Iraq would support a decision by OPEC to freeze oil output to prop up prices, Iraqi Prime Minister Haider al-Abadi told a news conference in Baghdad on Tuesday. "We are with freezing production at the OPEC meeting," he said, in the clearest indication yet about the position Iraq will support when the oil exporters' group meets next month.

  • BRUSSELS/ DUBLIN, Aug 30- The European Commission ordered Apple Inc. to pay Ireland unpaid taxes of up to 13 billion euros on Tuesday as it ruled the firm had received illegal state aid. Apple and Dublin said the U.S. company's tax treatment was in line with Irish and European Union law and they would appeal the ruling, which is part of a drive against what the EU says...