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World Economy International Organizations

  • Britain is one of the four main shareholders of the bank, which provides finance and expertise for projects that contribute to European Union policy objectives. Britain has in theory a right to receive a 16.1 percent share of the bank's capital once it leaves the EU, a report of the British House of Lords said in March, estimating that the British claim could be...

  • March 22- U.S. crude oil stocks rose to a fresh record last week, the Energy Information Administration said on Wednesday, as a surge in imports and rising domestic production more than offset a hike in refinery runs. Crude stocks in the world's top oil consumer have been building since the beginning of the year and undermining hopes that an OPEC- led deal to cut...

  • *OPEC inclined to extend cuts; wants non- OPEC participation. NEW YORK, March 22- Oil prices slid to almost four-month lows on Wednesday, with Brent briefly falling below $50 a barrel, after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June. "The market remains nervous about rising U.S. production,...

  • *OPEC inclined to extend cuts, wants non- OPEC backing. *Rising U.S. production undermines OPEC reduction effort. "With U.S. crude stocks continuing to mount into record territory both in total and at Cushing following almost two months of OPEC production restraint, we feel that the odds of a gradual unraveling in the OPEC agreement have been increased...

  • BERLIN— Germany's foreign minister is suggesting his country could offer to pay more money into the European Union, arguing that investing in Europe is "an investment in our own future." Germany is a net contributor to the 28- nation EU's budget. "And he said some EU partners, such as Sweden and the Netherlands, pay more per head to the bloc.

  • ATHENS, March 22- Greece said on Wednesday it hopes for a deal with its international lenders within the month of April and is working to bridge differences on labour, pension and energy reforms. The onus for an agreement was not only on the Greek government, but on its European Union and International Monetary Fund lenders too, government spokesman Dimitris...

  • *OPEC inclined to extend cuts, wants non- OPEC backing. LONDON, March 22- Oil prices slipped to almost four-month lows on Wednesday after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June. OPEC, which sources say is increasingly leaning towards extending cuts, has broadly delivered on pledged...

  • OSLO, March 22- European Union outsiders Norway and Iceland must boost their policy coordination in response to Britain's planned departure from the block, as well as other changes in global politics, the two Nordic countries said on Wednesday. Along with Liechtenstein, Norway and Iceland benefit from free movement of people, goods, services and capital within...

  • *OPEC inclined to extend cuts, wants non- OPEC backing. LONDON, March 22- Oil prices slipped to three-month lows on Wednesday after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June. OPEC, which sources say is increasingly leaning towards extending cuts, has broadly delivered on pledged...

  • BRUSSELS— The European Union is proposing new rules to make antitrust authorities in the bloc's member countries more effective. The EU's executive commission on Wednesday put forward proposals to ensure that national authorities have all the powers they need to gather evidence, such as the right to search cellphones and laptops. The proposal also...

  • "OPEC's decision in November 2016 to cut production was rational, in our view, and fit into its role of inventory manager of last resort," Goldman said. "However, the unintended consequence was to underwrite shale activity through a bullish credit market at a time when delayed delivery of the 2011-13 capex boom could lead to record non- OPEC production growth in...

  • *OPEC inclined to extend cuts, wants non- OPEC backing. LONDON, March 22- Oil prices slipped back to three-month lows on Wednesday after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June. Sources have said OPEC is inclined to extend but wants backing from non- OPEC producers, including Russia,...

  • *OPEC inclined to extend cuts, wants non- OPEC backing. LONDON, March 22- Oil prices slipped back towards three-month lows on Wednesday after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June. Sources have said OPEC is inclined to extend but wants backing from non- OPEC producers, including...

  • *Rising U.S. production undermines OPEC effort to cut output. SINGAPORE, March 22- Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC- led effort to cut output. "The American Petroleum Institutes' crude inventories stuck the knife into crude overnight, coming in at a 4.5...

  • *Rising U.S. production undermines OPEC effort to cut output. SINGAPORE, March 22- Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC- led effort to cut output. "The American Petroleum Institutes' crude inventories stuck the knife into crude overnight, coming in at a 4.5...

  • *Rising U.S. production undermines OPEC effort to cut output. SINGAPORE, March 22- Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC- led effort to cut output. "The American Petroleum Institutes' crude inventories stuck the knife into crude overnight, coming in at a 4.5...

  • *Rising U.S. production undermines OPEC's effort to cut output. SINGAPORE, March 22- Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC- led effort to cut output. Prices for front-month Brent crude futures, the international benchmark for oil, were at $50.92 per barrel at...

  • *OPEC sources say group leaning towards extending cuts. NEW YORK, March 21- Oil prices fell on Tuesday, with U.S. crude dropping to its lowest since November, as concerns about new supplies overshadowed the latest talk by OPEC that it was looking to extend output cuts beyond June. Brent futures for May delivery fell 66 cents, or 1.3 percent, to settle at $50.96 a barrel,...

  • BERLIN, March 21- The new U.S. administration should keep its international obligations and common trade rules in mind when overhauling its tax code to favour exports over imports, senior European and German government officials said on Tuesday. "The European Commission expects all trade partners to stick to international rules and obligations to which they...

  • BERLIN, March 21- Germany should send a new message to the European Union that investment is more important than austerity, Foreign Minister Sigmar Gabriel said in a guest article to be published in the conservative daily Frankfurter Allgemeine Zeitung on Wednesday. Germany is gearing up to for what is expected to be a close-run federal election in September...