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World Economy International Organizations

  • *EU extends telecoms sector privacy rules to web players. BRUSSELS, Jan 10- Online messaging and email services such as WhatsApp, iMessage and Gmail will face tough new rules on how they can track users under a proposal presented by the European Union executive on Tuesday. The proposal by the European Commission extends some rules that now only apply to telecom...

  • BRUSSELS, Jan 10- The European Union hopes to seal commercial data transfer deals with Japan and South Korea to boost business ties, and plans to tackle barriers to the free flow of data within the bloc. A data transfer deal with Japan and South Korea would allow firms doing business there and in the EU to move data seamlessly without having to ask regulators for...

  • BAGHDAD, Jan 10- Iraq has cut oil production by 160,000 barrels per day since the beginning of January in line with an OPEC decision to lower output, the oil ministry said in a statement on Tuesday. Oil Minister Jabar Ali al-Luaibi said he hoped that by the end of the month production would be cut by 210,000 bpd, in line with the OPEC- agreed cap for Iraq, according to the...

  • BERLIN, Jan 10- The euro zone should be split into two with a strong cluster around Germany and a weak cluster including France, the co-leader of Germany's far-right Alternative for Germany party, Joerg Meuthen, said in a Reuters interview. "It's conceivable that the weaker countries leave," he said, mentioning Italy, Spain, Portugal and France.

  • SINGAPORE, Jan 10- Oil edged up on Tuesday on hopes that some planned output cuts agreed by OPEC and other producers would be implemented, recovering some ground from losses the previous day over doubts the reductions would rebalance an oversupplied market. Analysts said the gains on Tuesday came from expectations that some of the cuts planned by the...

  • *Concerns mount that Iraq will not comply with planned cuts. Brent crude futures, the international benchmark for oil prices, were trading at $55.14 per barrel at 0426 GMT, up 20 cents from their last close. Analysts said the small gains on Tuesday came from expectations that some of the cuts planned by the Organization of the Petroleum Exporting Countries and...

  • *Asia ex- Japan little changed, Nikkei falls. MSCI's broadest index of Asia-Pacific shares outside Japan was flat in early trade. Iraq's oil ministry emphasized that the high levels would not affect the country's decision to cut January production to comply with the OPEC agreement.

  • In Iraq, OPEC's second-biggest producer, oil exports from the southern Basra ports reached a record high of 3.51 million barrels per day in December, the oil ministry said. OPEC members agreed in November on the first deal to cut oil output since 2008, limiting supplies to 32.5 million bpd starting Jan. 1 for six months. Iraq's oil ministry underscored that the...

  • Trump vowed during his election campaign to either scrap or renegotiate the North American Free Trade Agreement with Canada and Mexico, saying the two-decade old deal had been bad for American workers. This could have disastrous consequences for Canada, which sends 75 percent of its exports to the United States. The Globe said Gerald Butts and Katie Telford-...

  • NEW YORK, Jan 9- Oil prices fell on Monday on signs growing U.S. output could undermine plans by other producers to cut supply, while sterling slumped following comments by British Prime Minister Theresa May alluding to an aggressive exit from the European Union. "We see the optimism surrounding OPEC and non- OPEC production cuts being counterbalanced by fears of...

  • The Nigeria Union of Petroleum and Natural Gas Workers said it would make a final decision after its leaders meet officials from the ministries of petroleum and labour, as well as the state oil company, on Tuesday in the capital, Abuja. OPEC member Nigeria has already been hit by low crude prices and a wave of militant attacks in its southern Niger Delta oil hub...

  • LONDON, Jan 9- A European Union proposal to impose a levy on ships over their greenhouse gas emissions risks undermining the sector's global efforts to tackle the issue, the UN shipping agency's chief said on Monday. The proposals will go to a plenary vote in February and the EU's three law-making bodies- member states, the European Commission and the European...

  • Prices have risen about 21 percent since the OPEC, which accounts for a third of global oil output, signed an agreement in November to curb supply. Brent crude futures were down 2.03 percent at $55.94 a barrel at 1214 GMT on Monday. "With OPEC putting a floor on oil prices, operators have greater confidence to drill and complete, although the early stages of the...

  • BRUSSELS, Jan 9- Immigration has a generally positive economic impact on receiving countries but the benefits depend on how well the migrants are integrated, the International Monetary Fund's First Deputy Managing Director David Lipton said on Monday. Europe is struggling to contain a migration crisis started in 2015 when more than a million people entered...

  • *Iran steps up sales from floating storage. LONDON, Jan 9- Oil fell by $1 a barrel on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market. "We see the optimism surrounding OPEC and non- OPEC production cuts being counterbalanced by fears of...

  • MOSCOW, Jan 9- Russia cut its oil production in early January by around 100,000 barrels per day from the previous month after an agreement with OPEC to cap global crude output, two sources from the energy sector told Reuters on Monday. He also said that Russia plans to reduce oil output by 200,000 bpd in the first quarter and reach the cuts of 300,000 bpd thereafter,...

  • LONDON, Jan 9- Sterling will slip a touch more against the euro and dollar after Britain begins its official divorce process from the European Union, a Reuters poll found, while identifying risks that the falls could be steeper. In a month's time it will be worth $1.22 but at the end of March, by when Prime Minister Theresa May aims to trigger Article 50 which starts...

  • ACCRA, Jan 8- Ghana President Nana Akufo-Addo is likely to name investment banker Ken Ofori-Atta as finance minister, three sources close to the presidency told Reuters on Sunday. Ghana which exports cocoa, gold and oil is halfway through a three-year $918 million aid deal with the International Monetary Fund to restore fiscal balance to an economy dogged by...

  • *Iran exempted from OPEC output cut agreement. LONDON, Jan 6- Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalising on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data. The oil sold in recent months has gone to buyers in Asia including...

  • *Iran exempted from OPEC output cut agreement. LONDON, Jan 6- Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data. The oil sold in recent months has gone to buyers in Asia including...