×

World Economy International Organizations

  • TIRANA, June 25- Albanians were voting in a parliamentary election on Sunday with the ruling Socialists and rival Democrats seeking a majority to push through judicial reforms vital for membership of the European Union. The race pits Socialist Prime Minister Edi Rama against the centre-right Democratic Party of Lulzim Basha. Polls opened at 7 a.m. on what is...

  • BANK FOR INTERNATIONAL SETTLEMENTS SAYS CENTRAL BANKS SHOULD BEGIN PROCESS OF NORMALISATION.

  • *Central banks should begin process of normalisation- BIS. LONDON, June 25- Major central banks should press ahead with interest rate increases, the Bank for International Settlements said on Sunday, while recognising that some turbulence in financial markets will have to be negotiated along the way. "Since we are now emerging from a very long period of very...

  • LONDON, June 25- Although a better economy is helping global banks to turn the corner a decade after the financial crisis began, euro zone lenders remain a dampener on the sector's recovery, the Bank for International Settlements said on Sunday. Euro zone authorities had to intervene in struggling Spanish bank Banco Popular earlier this month, and face pressure...

  • TIRANA, June 25- Albanians were voting in a parliamentary election on Sunday with the ruling Socialists and rival Democrats seeking a majority to push through judicial reforms vital for membership of the European Union. The race pits Socialist Prime Minister Edi Rama against the centre-right Democratic Party of Lulzim Basha. Polls opened at 7 a.m. on what is...

  • June 23- U.S. ratings agency Moody's Investors Service upgraded Greece's long-term issuer rating to' Caa2' from' Caa3' following the extension of a credit lifeline to the country by euro zone governments. The euro zone government had given Greece another 11th- hour credit lifeline worth 8.5 billion euros, last week. The International Monetary Fund Managing...

  • NEW YORK, June 23- Oil futures edged higher on Friday with a lift from a weaker dollar, but finished a fifth straight week lower as OPEC- led production cuts have failed to substantially reduce a global crude glut. Brent futures settled up 32 cents, or 0.7 percent, to $45.54 a barrel. "The higher rig count this week reflects decisions made a couple of months ago when oil...

  • As part of the lifting of capital controls imposed during the 2008 financial crisis to stop money flooding out of Iceland, the bank wants to buy back the remaining assets- known as "offshore crown"- that were locked in Iceland during its eight years of controls. The International Monetary Fund on Thursday recommended Iceland roll back the reserve requirement on...

  • *Many U.S. shale drillers profitable at $40/ barrel- Cenkos. NEW YORK, June 23- Oil futures edged higher on Friday with a lift from a weaker dollar but remained down for a fifth week in a row and close to a 10- month low as OPEC- led production cuts have failed to substantially reduce a global crude glut. Brent futures were up 15 cents, or 0.3 percent, at $45.37 a barrel by...

  • on a lift from a falling dollar but remained down for a fifth week in a row and close to a 10- month low as OPEC- led production cuts have failed to reduce a global crude glut. After agreeing in December to cut production by around 1.8 million barrels per day from January-June, OPEC and other producers in late May agreed to extend those cuts for another nine months...

  • *Europe sitting on nearly 1 trillion euros of bad loans. PRAGUE, June 23- With little support for a European Union- backed bad bank to clean up the huge pile of soured loans in Europe, national authorities should at least get a common blueprint to deal with the problem, the banking sector watchdog's head said on Friday. It received a cool reception, including from EU...

  • *Many U.S. shale drillers profitable at $40/ bl- Cenkos. Brent crude futures were up 14 cents at $45.36 a barrel at 1138 GMT. Bearish factors like higher output in Libya or Nigeria result in lower oil prices but bullish factors, like the really high OPEC commitment, are ignored, "said Frank Schallenberger, head of commodity research at LBBW in Stuttgart.

  • BRUSSELS, June 23- The euro zone economy is growing and unemployment is falling, but underlying inflation is not rising because wage growth has not yet picked up, European Central Bank President Mario Draghi told European Union leaders. Draghi said that sentiment was improving because one of the major uncertainties weighing down confidence last year was...

  • BRUSSELS— The European Union and Britain on Friday tripped over the first item in their Brexit talks— protecting the rights of each other's citizens— highlighting the potential for trouble ahead in their marathon negotiations. The 27 EU leaders demanded many more details on the U.K. proposal to guarantee the rights of the 3 million EU citizens who now live in...

  • FRANKFURT, Germany— The European Central Bank is asking for legal powers to oversee how transactions involving financial derivatives are settled— a hot topic in negotiations over Britain's departure from the European Union. Much of the activity in clearing euro-denominated derivatives is located in London and involves thousands of jobs in the financial...

  • BRUSSELS— The Latest on the European Union summit:. Poland's prime minister says it is a good sign for the future that France and Central European countries want to seek consensus despite their differences on key issues. Prime Minister Beata Szydlo offered her assessment at a European Union summit in Brussels on Friday.

  • *Analysts doubt OPEC's ability to tighten the market. *Rising U.S. output undermines OPEC- led efforts to cut. Prices are also still down around 15 percent since OPEC extended on May 25 its cuts to cover the first quarter of 2018 instead of expiring at the end of this month.

  • BRUSSELS— European Union leaders are set Friday to boost their support for conflict-ravaged Libya as the number of people fleeing Africa from there for better lives in Europe continues to rise. The U.N.' s migration agency calculates that around 70,000 people have arrived in Italy from Libya so far this year, compared with around 56,000 for the same period last...

  • *Analysts doubt OPEC's ability to tighten the market. *Rising U.S. output undermines OPEC- led efforts to cut. The weak markets are a result of doubts over OPEC's ability to rein in a fuel supply overhang that has dogged markets since 2014 as production has largely outpaced consumption.

  • The weak markets are a result of doubts over OPEC's ability to rein in a fuel supply overhang that has dogged markets since 2014 as production has largely outpaced consumption. "Markets remain sceptical of OPEC's ability to balance supplies," ANZ bank said on Friday. At the heart of the glut is that rising production levels from the traditional suppliers of OPEC...