World Economy International Organizations

  • *In shadow of Brexit, NATO summit is Obama's last trip to Europe. WARSAW, July 8- NATO leaders will display their resolve towards a resurgent Russia at a summit in Warsaw on Friday despite what many see as a weakening of the West due to Britain's vote to leave the European Union. Estonia, Latvia, Lithuania and Poland requested a permanent NATO presence amid fears that...

  • *In shadow of Brexit, NATO summit is Obama's last trip to Europe. WARSAW, July 8- NATO leaders will display their resolve towards a resurgent Russia at a summit in Warsaw on Friday despite what many see as a weakening of the West due to Britain's vote to leave the European Union. Estonia, Latvia, Lithuania and Poland requested a permanent NATO presence amid fears that...

  • WASHINGTON, July 7- The International Monetary Fund said on Thursday its executive board approved a new three-year, $5.34 billion standby arrangement for Iraq to support Baghdad's efforts to deal with lower oil prices and ensure debt sustainability. In July 2015, Iraq received about $1.24 billion under the previous rapid financing instrument program.

  • WASHINGTON, July 7- The International Monetary Fund said on Thursday its executive board approved a new three-year, $5.34 billion stand-by arrangement for Iraq to support Baghdad's efforts to deal with lower oil prices and ensure debt sustainability. The IMF said in a statement the approval will allow for the immediate disbursement of about $634 million...

  • WASHINGTON, July 7- International Monetary Fund Managing Director Christine Lagarde warned in an interview published on Thursday that anti-trade policies like those championed by Republican presidential candidate Donald Trump risked a protectionist movement that could severely damage global growth. Lagarde told the Financial Times that with...

  • FRANKFURT/ LISBON, July 7- The ripples from Britain's decision to leave the European Union have spread across Europe to its southwestern edge, where Portugal is quietly struggling to contain a banking crisis. Since Britain's shock vote on June 23 for a "Brexit", attention in the banking sector has mainly focused on Italy, where non-performing loans are causing...

  • STRASBOURG, July 7- Caffeinated energy and soft drinks makers in the European Union will not be allowed to claim the drinks boost alertness or concentration after the European Parliament on Thursday blocked European Commission proposals to regulate but allow these claims. The parliament said such claims promoted sugar intake among children.

  • FRANKFURT/ LISBON, July 7- The ripples from Britain's decision to leave the European Union have spread across Europe to its southwestern edge, where Portugal is quietly struggling to contain a banking crisis. Since Britain's shock vote on June 23 for a "Brexit", attention in the banking sector has mainly focused on Italy, where non-performing loans are causing...

  • *IMF says Ghana respecting terms of funding programme. ACCRA, July 7- It is too close to call whether Ghana's President John Mahama will win re-election in November, but on one score success is starting to look attainable: the government is on course to get through an election year without triggering a fiscal crisis. In 2012, when the country last went to the polls,...

  • BELGRADE- National Bank of Serbia announces interest rate decision- 1000 GMT. LISBON, Portugal- OECD Global Forum on Productivity: Structural Reforms for Productivity Growth. FRIDAY, JULY 8 LISBON, Portugal- OECD Secretary-General Angel Gurria and Portugal Finance Minister Mario Centeno to attend OECD Global Forum on Productivity: Structural Reforms for...

  • BRUSSELS, July 6- European Union finance ministers will issue a statement at their meeting next week urging bank regulators to avoid imposing a disproportionate increase of costs on European banks, draft conclusions of the meeting said. Ministers at their regular monthly meeting in Brussels on Tuesday will say "the reform package would not be expected to...

  • BRUSSELS, July 6- European Union finance ministers will issue a statement at their meeting next week urging bank regulators to avoid imposing a disproportionate increase of costs on European banks, draft conclusions of the meeting said. The Basel Committee, a body of banking supervisors from nearly 30 countries, is reviewing global banking rules.

  • BRUSSELS, July 6- The European Union should set up a mechanism to wind down troubled clearing houses, the new head of financial services at the European Commission said on Wednesday, setting out his priorities for the coming months. "Now that we have required more clearing of derivatives to be done through central counterparties, we need a system to resolve them if...

  • TOKYO, July 6- Oil prices fell in Asian trading amid wider market turmoil set off by mounting concerns over the economic impact of Britain's vote to leave the European Union. U.S. crude was down 23 cents at $46.37 a barrel at 0158 GMT. The contract fell 5 percent to end at $46.60 on Tuesday as U.S. investors digested news of an OPEC increase in production after the July 4...

  • TOKYO, July 6- Oil prices fell in Asian trading amid wider market turmoil set off by mounting concerns over the economic impact of Britain's vote to leave the European Union. U.S. crude was down 31 cents at $46.29 a barrel at 0158 GMT. The contract fell 5 percent to end at $46.60 on Tuesday as U.S. investors digested news of an OPEC increase in production after the July 4...

  • *UK housebuilders drop after poor industry data. European stocks rose last week as expectations grew that European central banks would step in to support markets spooked by Britain's vote to leave the European Union. But both indexes remain below levels reached before the vote, which triggered worries about the political and economic outlook for Europe,...

  • OTTAWA, July 5- Large parts of a free trade deal between Canada and the European Union should come into force next year, a top Canadian official said on Tuesday after the EU's executive commission formally presented the agreement for ratification. "This is a really important and great next step," Trade Minister Chrystia Freeland said in a interview.

  • LONDON, July 5- "How much oil lies beneath the desert sands of Saudi Arabia and how long will it last before running out?" The kingdom has proven reserves of 266 billion barrels according to government estimates submitted to the Organization of the Petroleum Exporting Countries. If these numbers are correct, Saudi Arabia's reserves will last for another 70 years...

  • *EBA and EMA agencies seen leaving London post Brexit. *Milan mayor visits London as EU cities promote themselves. MILAN/ LONDON, July 5- Milan's new mayor Giuseppe Sala will fly into London on Wednesday, stepping up a battle between European cities competing to wrest two prestigious European Union agencies from London in the wake of Britain's vote to leave the...

  • OSLO, July 5- Britain's vote to leave the European Union could hurt Norway's exports to Britain and hit the profitability of the Nordic country's banking, insurance and property sectors, the International Monetary Fund said on Tuesday. Britain is Norway's third-biggest destination for goods produced by its mainland economy, which excludes the volatile oil...