World Economy International Organizations

  • LONDON, Dec 5- OPEC has finally agreed to cut production, but only after two years of fruitless negotiations. So what changed to make an agreement possible now, after it had eluded negotiators at previous OPEC meetings? Saudi officials have long stated that it would only be possible to reach an OPEC agreement once Iran had normalized its output following the...

  • LONDON, Dec 5- OPEC will meet non- OPEC countries to finalize a global oil output-limiting pact on Dec. 10 in Vienna, the first such meeting since 2002, OPEC's secretary general said on Monday. The Organization of the Petroleum Exporting Countries agreed last week to reduce oil output by around 1.2 million barrels per day beginning in January in a bid to reduce...

  • *OPEC, Russia announced 2017 oil production cut last week. SINGAPORE, Dec 5- Oil prices fell by one percent on Monday as a higher U.S. rig count unsettled markets amid nagging concern that output cuts, planned as part of concerted action between producer club OPEC and Russia, might not be as big as initially anticipated. Traders said price falls were triggered by...

  • *OPEC, Russia announced 2017 oil production cut last week. SINGAPORE, Dec 5- Oil prices fell by one percent on Monday as a higher U.S. rig count unsettled markets amid nagging concern that output cuts, planned as part of concerted action between producer club OPEC and Russia, might not be as big as initially anticipated. Traders said price falls were triggered by...

  • BRUSSELS, Dec 5- Euro zone finance ministers hope to reach a compromise on Greek reforms on Monday in a final bid to get International Monetary Fund support for its bailout programme by the end of the year. Greece is required by its euro zone creditors to pass wide-ranging reforms and sell state assets under an 86 billion euros bailout programme, but negotiators...

  • BRUSSELS, Dec 4- U.S. tech giants including Facebook, Twitter, Google's YouTube and Microsoft will have to act faster to tackle online hate speech or face laws forcing them to do so, the European Commission said on Sunday. The European Union executive's warning comes six months after the companies signed up to a voluntary code of conduct to take action in Europe...

  • GENEVA, Dec 4- Europe's trade negotiator blamed China on Sunday for scuppering a global environmental trade deal by submitting impossible late demands at World Trade Organization talks aimed at scrapping import tariffs on exports worth more than $1 trillion. "China came in with their list, bringing in totally new elements of perspective, which was very late in...

  • GENEVA, Dec 4- Talks on scrapping import tariffs on environment-related exports worth more than $1 trillion collapsed at the World Trade Organization on Sunday, with disagreement among the 18 trade ministers on which goods to include, ranging from bicycles to gas turbines. "The participants will now return to capitals to consider next steps," the co-chairs of...

  • DUBAI, Dec 3- OPEC will meet non- OPEC countries to finalise a global oil limiting pact on Dec. 10 in Vienna, two sources told Reuters on Saturday. Two OPEC sources earlier said the meeting was due to take place in the Russian capital Moscow, but later said that plan had changed. OPEC agreed this week to reduce output by around 1.2 million barrels per day beginning in...

  • *Oil reverses loss, marks strong week in wake of OPEC deal. NEW YORK, Dec 2- Bond yields fell on Friday as solid U.S. jobs data reinforced the view that the Federal Reserve would raise interest rates gradually, while stock and currency markets were cautious ahead of an Italian constitutional reform vote on Sunday. Crude futures rebounded on a weaker dollar, resuming a...

  • *Focus shifts to implementation and impact of OPEC deal. NEW YORK, Dec 2- Oil prices rallied for their best week in at least five years on Friday, steadying above $51 a barrel, following OPEC's decision to cut crude output to rein in a global glut that has weighed on prices for more than two years. After the deal was announced on Wednesday, the market focused on the...

  • *Focus shifts to implementation and impact of OPEC deal. NEW YORK, Dec 2- Oil prices edged higher on Friday above $51 a barrel with Brent crude on track for its biggest weekly rally since 2009 following OPEC's decision to cut crude output in order to rein in a global glut. After the deal was announced on Wednesday, the market focused on the implementation and impact of...

  • *Focus shifts to implementation and impact of OPEC deal. NEW YORK, Dec 2- Oil prices edged higher on Friday, steady above $51 a barrel, with Brent crude on track for its biggest weekly rally since 2009, following OPEC's decision to cut crude output in order to rein in a global glut. After the deal was announced on Wednesday, the market will focus on the implementation...

  • *Focus shifts to implementation and impact of OPEC deal. NEW YORK, Dec 2- Oil prices steadied above $51 a barrel on Friday, with Brent crude on track for its biggest weekly rally since 2009, following OPEC's decision to cut crude output in order to rein in a global glut. After the deal was announced on Wednesday, the market's focus now shifts to the implementation and...

  • GENEVA, Dec 2- European resistance to China's massive bicycle industry is just one potential stumbling block for environmental trade talks this weekend in Geneva, where World Trade Organization members could pave the way to scrap tariffs on exports worth over $1 trillion. Trade ministers from the European Union, China and 16 other WTO members including the...

  • WARSAW, Dec 2- The European Union might fill a void in global trade left by the United States if the world's biggest economy becomes more inward-looking with Donald Trump as president, EU Trade Commissioner Cecilia Malmstrom said on Friday. "I think the EU has a possibility to fill the void," she told a congress of the Alliance of Liberals and Democrats for Europe...

  • *First joint cut between OPEC and Russia since 2001. MOSCOW, Dec 2- Russia plans to use its November oil production, which was its highest in almost 30 years, as its baseline when it cuts output under this week's deal with OPEC, Deputy Energy Minister Kirill Molodtsov said on Friday. Under this week's follow-up agreement, the first between OPEC and Russia since 2001,...

  • BRIEF-GSK APPLIES FOR EU MARKETING NOD FOR COPD DRUG COCKTAIL@. *Gsk files regulatory submission in european union for once-daily closed triple combination therapy FF/UMEC/VI for patients with COPD. *Regulatory submissions of closed triple therapy for COPD are anticipated in rest of world beginning in 2017.

  • DUBAI, Dec 2- OPEC will meet non- OPEC countries to finalise a global oil limiting pact on Dec. 10 in the Russian capital Moscow, two OPEC sources told Reuters on Friday. OPEC agreed this week to reduce output by around 1.2 million barrels per day beginning in January in a bid to reduce global oversupply and prop up prices. It hopes non- OPEC countries will contribute...

  • LONDON, Dec 2- British regulators should be given wider powers to block mergers, particularly if a company has strategic significance, after the country's exit from the European Union, Sharon White, head of communications watchdog Ofcom said. Britain should use the opportunity presented by Brexit to bolster the capacities and powers of its regulators, White...