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  • ANTANANARIVO, June 4- Madagascar has made state institutions more transparent and supported medium-term growth but the economy is struggling now due to weak commodity prices, bad weather and tax avoidance, the IMF said. The International Monetary Fund made the comments in a statement on Thursday at the end of its latest mission to Madagascar since it renewed...

  • UPDATE 5-Oil steadies ahead of OPEC meeting Thursday, 4 Jun 2015 | 6:55 AM ET

    *OPEC expected to keep oil production high, roll over target. LONDON, June 4- Oil prices steadied on Thursday as a weaker dollar offset worries over a global supply glut ahead of a meeting of OPEC oil producers. "The stronger euro is now supporting oil prices," said Tamas Varga, oil analyst at London brokerage PVM Oil Associates.

  • PARIS, June 4- A major World Trade Organisation deal on streamlining global customs rules could cut international trade costs by between 12.5 percent and 17.5 percent, a study by the Organisation for Economic Co-Operation and Development showed on Thursday. Ash declined to endorse this figure, only saying the Paris- based body expected each 1 percent...

  • IMF calls for simpler EU budget rules, focus on debt Thursday, 4 Jun 2015 | 5:37 AM ET

    BRUSSELS, June 4- The International Monetary Fund called on the European Union on Thursday to simplify its budget rules to limit discretion in their application and focus on bringing down public debt. The head of the IMF's fiscal department Vitor Gaspar told a seminar organised by the European Political Strategy Centre that the European Union's rules were...

  • VIENNA, June 4- The U.S. tight-oil boom is here to stay despite low crude prices as technological breakthroughs will allow steep reductions in costs, the head of U.S. firm ConocoPhillips told a seminar organised by oil-producing group OPEC. OPEC chose instead to fight for market share, betting that a price drop would depress output in higher-cost producers such...

  • UPDATE 4-Oil prices slip ahead of OPEC meeting Thursday, 4 Jun 2015 | 4:28 AM ET

    *OPEC expected to keep oil production high, roll over target. LONDON, June 4- Oil prices slipped on Thursday ahead of a key OPEC meeting to decide production policy at a time of huge global oversupply. "A roll-over in OPEC's production target is built into prices," said Tamas Varga, oil analyst at London brokerage PVM Oil Associates.

  • *Global crude glut remains as OPEC seen keeping output high. SINGAPORE, June 4- Oil prices fell on Thursday as a large crude glut overshadowed strong global fuel demand ahead of a meeting on Friday in which OPEC looks to be unlikely to change its production quota. Energy advisory Wood Mackenzie said on Thursday it was unlikely OPEC would agree to cut output at its...

  • *China's new car sales on track to set new record. SINGAPORE, June 4- Asian consumption of gasoline and other fuels has beaten expectations due to demand stemming from structural changes in the economies of Asia's biggest oil users, vindicating for now OPEC's decision six months ago to keep its taps open. Saudi Arabia's oil minister in November persuaded fellow...

  • Yuan weakens marginally, broadly stable trend intact Thursday, 4 Jun 2015 | 12:01 AM ET

    SHANGHAI, June 4- China's yuan weakened slighly on Thursday after reforms to further open the onshore repurchase agreement market to foreigners, but analysts expect the currency to remain range bound for the next few months ahead of an International Monetary Fund review. The People's Bank of China set the midpoint rate at 6.1164 per dollar prior to market open,...

  • *China's new car sales on track to set new record. SINGAPORE, June 4- Asian consumption of gasoline and other fuels has beaten expectations due to demand stemming from structural changes in the economies of Asia's biggest oil users, vindicating for now OPEC's decision six months ago to keep its taps open. Saudi Arabia's oil minister in November persuaded fellow...

  • *Global crude glut remains as OPEC seen keeping output high. Front-month Brent futures were down 16 cents at $63.64 per barrel by 0300 GMT. Energy advisory Wood Mackenzie said that it was very unlikely that OPEC would agree to cut output at its June 5 meeting and that it expected the group's crude output to remain just above its 30 million bpd production ceiling...

  • WASHINGTON, June 3- Argentina has failed to take sufficient steps to bring the quality of its economic statistics in line with global standards, the International Monetary Fund's board said on Wednesday. The IMF, which requires accurate data to analyze the world's economies, censured Argentina in 2013 over failing to improve its inflation and gross domestic...

  • ATHENS, June 4- Greece's leftist-led government would hold early elections if its international lenders force it to accept a cash-for-reforms deal that violates its "red lines" or risk bankruptcy, the ruling party's parliamentary spokesman said on Thursday. "If we are pressed to sign an ultimatum, it is clear we will not sign it and we will ask the people to express...

  • VIENNA, June 4- Nearly a year after oil markets entered a deep downward spiral, unmoored from the $100- a-barrel mark that had anchored them for years, some OPEC members are publicly talking for the first time about a new "fair" price for their crude. Oil ministers from Iraq, Venezuela and Angola said in Vienna this week that a price of $75 or $80 a barrel- barely $10 above...

  • NEW YORK, June 3- A sudden wave of sell orders early on Wednesday, followed by a bout of buying a couple of hours later whipsawed U.S. crude oil prices, puzzling even veteran traders used to big gyrations in the run-up to an OPEC meeting. While some traders blamed a high frequency algorithmic trade for the move, most agreed it reflected a jumpy market on rising concerns...

  • *Greece owes IMF 300 million euros this week. *France says cannot ask too much of Greece. Prime Minister Alexis Tsipras agreed in a telephone call with German Chancellor Angela Merkel and French President Francois Hollande on the need for an immediate solution to the long-running debt negotiations involving a lower primary budget surplus target for Greece, a...

  • *OPEC expected to keep output target unchanged on Friday. OPEC, which pumps more than a third of the world's oil, is expected to reject any calls for output cuts, continuing to produce about 2 million barrels per day above demand. Crude oil futures, already volatile from the combination of a flighty dollar and the bearish mood over OPEC, briefly cut losses on the EIA...

  • *OPEC expected to keep output target unchanged on Friday. OPEC, which pumps more than a third of the world's oil, is expected to reject any calls for output cuts, continuing to produce about 2 million barrels per day above demand. Oil prices, already volatile from the combination of a flighty dollar and the bearish mood over OPEC, briefly cut losses on the EIA report...

  • VIENNA, June 3- Venezuela sought to open a new front in its months-long verbal assault on the U.S. shale oil industry on Wednesday, suggesting it posed a grave threat to water supplies. "This does not seem to raise any concerns among the governments promoting it or the companies involved," he told an OPEC seminar in Vienna attended by chief executives of some of the...

  • UPDATE 6-Oil drops in volatile session as OPEC gathers Wednesday, 3 Jun 2015 | 10:22 AM ET

    *OPEC expected to keep output target unchanged on Friday. LONDON, June 3- Oil prices fell in volatile trade on Wednesday as investors adjusted positions ahead of a key meeting of OPEC oil producers. "There is consensus among Gulf OPEC countries, and others, to keep the ceiling unchanged," the OPEC delegate told Reuters in Vienna.