World Economy International Organizations

  • *IMF says Iraq must revise "too expensive" 2017 draft budget. The political infighting comes as major OPEC producer Iraq struggles to fill a public deficit left by the collapse in global prices for its crude exports. To replace missing oil revenue, Iraq has turned to the International Monetary Fund for a loan package, which would also serve as the basis for other...

  • TORONTO, Sept 27- Energy and mining stocks dragged Canada's main stock index lower on Tuesday, canceling out a modest relief rally elsewhere from a perceived win for Democrat Hillary Clinton in a U.S. presidential debate. Oil fell about 3 percent after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise this week at...

  • TORONTO, Sept 27- Energy and mining stocks dragged Canada's main stock index lower on Tuesday, cancelling out a modest relief rally elsewhere from a perceived win for Democrat Hillary Clinton in a U.S. presidential debate. Oil fell about 3 percent after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise this week...

  • At Monday's debate with Hillary Clinton, Donald Trump declared the need to renegotiate trade deals because U.S. trading partners are "taking our jobs." The backlash against trade threatens a pillar of U.S. policy since World War II: Through trade pacts and institutions like the World Trade Organization, the United States has sought to rip down barriers to global...

  • *Iran, Libya, Nigeria should maximize output- Saudi Arabia. NEW YORK, Sept 27- Oil fell about 3 percent on Tuesday after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise this week at meeting in Algiers to help ease a global glut of crude. Saudi Energy Minister Khalid al-Falih told reporters in the Algerian capital,...

  • Treasury Secretary Jack Lew said major emerging market countries should be better able to anticipate a U.S. interest rate hike because of the Federal Reserve's clear communications, a recapitalized International Monetary Fund and efforts to coordinate monetary and fiscal policies. Lew told Reuters in an interview late Monday that G20 finance ministers...

  • *Oil prices recede on uncertainty over OPEC output talk. NEW YORK, Sept 27- Stock prices across major markets rose on Tuesday, led by U.S. technology and consumer sectors following the presidential debate between Hillary Clinton and Donald Trump, while oil prices fell on fading hopes of agreement on limiting production. Clinton would be a safe pair of hands, that...

  • *Iran, Libya, Nigeria should maximize output- Saudi Arabia. NEW YORK, Sept 27- Oil fell about 3 percent on Tuesday after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise this week at meeting in Algiers to help ease a global glut of crude. Saudi Energy Minister Khalid al-Falih told reporters in the Algerian capital,...

  • WASHINGTON, Sept 27- The World Bank on Tuesday reappointed Jim Yong Kim to a five-year term as president of the multilateral development lender after the nomination period closed without any challengers coming forward.

  • WORLD BANK SAYS EXECUTIVE DIRECTORS VOTED UNANIMOUSLY TO REAPPOINT JIM YONG KIM TO SECOND FIVE YEAR TERM AS PRESIDENT OF WORLD BANK GROUP.

  • *Oil prices recede on uncertainty over OPEC output talk. NEW YORK, Sept 27- Stock prices across major markets rose on Tuesday, led by gains in the U.S. technology and consumer sectors following the presidential debate between Hillary Clinton and Donald Trump, while oil prices fell on fading hopes of agreement on limiting production. Investors have fretted over...

  • NEW YORK, Sept 27- Oil fell 3 percent on Tuesday after Saudi Arabia said it did not expect to agree on output cuts at a meeting with other producers in the Algerian capital, although a production freeze deal was still possible later in the year. Saudi Energy Minister Khalid al-Falih told reporters in Algiers, where OPEC and other oil producers had gathered for the...

  • ALGIERS, Sept 27- Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find a compromise this week to help ease a global glut of crude. "The gap between OPEC countries is narrowing. Referring to the next formal OPEC meeting in Vienna on Nov. 30, he added: "...

  • GENEVA, Sept 27- Britain's trade minister promised on Tuesday its departure from the European Union would not create a legal vacuum at the World Trade Organization, and said Britain was determined to champion free trade. Britain is a full and founding member of the WTO, but its membership terms are currently shared with the rest of the EU, Liam Fox told a WTO...

  • *Iran insists on much higher output targets. *Gulf OPEC members, Russia trying to persuade Iran. ALGIERS, Sept 27- Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as the group and non-member Russia were still trying to bridge differences between the kingdom and Tehran.

  • *Differences remain between Saudis and Iran. The energy ministers of Saudi Arabia and Russia were to give a joint briefing later in the day in Algiers where OPEC and other oil producers were holding informal talks on the sidelines of the Sept 26-28 International Energy Forum. "We will consult with everyone else, we will hear the views, we will hear the secretariat...

  • *Oil prices recede on uncertainty over OPEC output talk. NEW YORK, Sept 27- U.S. stock prices rose on Tuesday following the presidential debate between Hillary Clinton and Donald Trump, but losses in the oil market and anxiety about the fortune of Deutsche Bank limited Wall Street's advance. Deutsche Bank is one of those banks, "said Kevin Giddis, head of fixed income...

  • *Iran insists on much higher output targets. *Gulf OPEC members, Russia still trying to persuade Iran. ALGIERS, Sept 27- Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as sources said the group and non-member Russia were still trying to bridge differences between the kingdom and...

  • *No sign of Algiers output deal. Saudi Arabia dashed hopes on Tuesday that producers could clinch a deal at the Sept. 26-28 informal meeting of OPEC and other producers including Russia after sources within the exporter group said differences between the kingdom and rival Iran remained too wide. "It's all about what's going on in Algiers really... the prospect or no...

  • GENEVA, Sept 27- Britain's trade minister promised on Tuesday its departure from the European Union would not create a legal vacuum at the World Trade Organization, and said Britain was determined to champion free trade. Britain is a full and founding member of the WTO, but its membership terms are currently shared with the rest of the EU, Liam Fox told a WTO...