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  • KUWAIT OIL MINISTER SAYS OPEC SHOULD MAINTAIN UNITY AND NOT CUT PRODUCTION ALONE.

  • FRANKFURT, Nov 4- The euro zone should introduce a single scheme to protect savers across the euro zone, the president of the European Central Bank said on Wednesday, adding that failure to make such a reform undermined the currency union. While not the first time Mario Draghi has called for such a move, his warning applies pressure on Germany and others to end a...

  • LONDON, Nov 4- Specialty medicines for which pharmaceutical companies demand high prices are straining wealthy nations' health budgets, the OECD said on Wednesday, with drugs accounting for some 20 percent of all health spending. Across the 33 OECD countries, pharmaceutical spending reached $800 billion in 2013, and new drugs and rising demand are likely to...

  • BEIJING/ SHANGHAI, Nov 4- The International Monetary Fund's Beijing office told Reuters no date had been set for reviewing whether to include the Chinese yuan in its reserve currency basket, responding to a report in local media that the review would be delayed. China Business News, a respected domestic finance newspaper, said on its website that the IMF was...

  • SHANGHAI, Nov 4- The International Monetary Fund has not set a concrete date to review the possible inclusion of China's yuan in the Special Drawing Rights basket, a Beijing- based IMF official said on Wednesday. The local China Business News said earlier that the IMF had postponed its decision on whether to include the yuan until Nov. 30, after having originally...

  • BEIJING, Nov 4- The International Monetary Fund has postponed its decision on whether to include the yuan in the Special Drawing Rights basket until Nov. 30, the China Business News reported on Wednesday.

  • FACTBOX-What is the IMF's benchmark currency basket? Tuesday, 3 Nov 2015 | 9:07 PM ET

    WASHINGTON, Nov 4- International Monetary Fund policymakers are expected to decide this month whether to add China's yuan to the Fund's benchmark currency basket after a campaign by Beijing for inclusion. Joining the Special Drawing Rights basket would mark a symbolic coming of age for China as an economic power and an acknowledgement of its efforts to...

  • SHANGHAI, Nov 4- Even as the International Monetary Fund prepares to accept China's yuan in its basket of reserve currencies, a major diplomatic victory for Beijing's campaign to internationalise the currency, foreign companies are growing more sceptical. Thanks to recent reforms in China and the endorsement of key European governments, including Britain...

  • SHANGHAI, Nov 4- Even as the International Monetary Fund prepares to accept China's yuan in its basket of reserve currencies, a major diplomatic victory for Beijing's campaign to internationalise the currency, foreign companies are growing more sceptical. Thanks to recent reforms in China and the endorsement of key European governments, including Britain...

  • *Says in interest of all that Ukraine an important transit state. BRUSSELS, Nov 3- European Union regulators are preparing a strategy to import more liquefied natural gas while scrutinising Russia's plans to expand its pipeline capacity to Germany, a draft EU document says. At the same time, it referred to a shareholders' agreement between Russian gas giant...

  • *Algeria says OPEC needs oil-price floor. *Iran, Algeria say OPEC should dust off quota system. A draft report of OPEC's long-term strategy carries annotations by Iran, Algeria and Iraq, and suggestions from Iran and Algeria for measures to support prices such as a price target or floor and a return to OPEC's quota system.

  • *Russia oil production at post-Soviet record high. LONDON, Nov 2- Oil prices fell on Monday as weak Chinese economic data fueled concerns about demand slowing there and record-high production in Russia exacerbated the global supply glut. "High OPEC production, record-high production in Russia and weak China data are driving prices lower," said Carsten Fritsch,...

  • But it showed that Gulf oil producers aim to keep pumping hard as they expect weak oil prices next year when sanctions on Iran are lifted allowing it to export more to an oversupplied market, the sources said. They told Reuters that OPEC members Saudi Arabia, United Arab Emirates and Qatar are rescheduling non-essential maintenance work at oilfields...

  • *OPEC seen likely to stick with record production at next meeting. LONDON, Nov 2- Oil prices fell on Monday as weak Chinese economic data fuelled concerns about demand slowing in one of the world's largest oil-consuming nations, while record-high production in Russia exacerbated the global supply glut. "High OPEC production, record-high production in Russia...

  • DUBAI, Oct 31- Iran will officially notify producer group OPEC in December of its plans to raise its crude oil output by 500,000 barrels per day, the Iranian oil minister said on Saturday. "Iran is prepared to supply at least 500,000 bpd of crude oil to global markets," he added. OPEC is pumping close to a record high as major producers focus on defending market share.

  • DUBAI, Oct 31- The Iranian oil minister said on Saturday that Iran will officially announce its crude oil output rise by 500,000 barrels per day at the upcoming OPEC meeting on Dec. 4, according to the ministry's news agency. "During the 1/ 8 upcoming OPEC 3/ 8 meeting, we will officially notify other OPEC members of our plans to raise production and will ask them to...

  • Oct 30- Slowing U.S. production is unlikely to offer much respite to low oil prices into next year as high OPEC output feeds a persistent supply glut, a Reuters survey showed on Friday. Benchmark North Sea Brent crude is expected to average $58.52 a barrel in 2016, marginally down from last month's poll and above $55.94 seen so far this year, the survey of 32 analysts...

  • *OPEC output still up 1.5 mbpd since 2014 policy shift. LONDON, Oct 30- OPEC oil output has fallen in October from the previous month, a Reuters survey found on Friday, as declines in top producers Saudi Arabia and Iraq outweighed higher supply from African members. OPEC supply has fallen in October to 31.64 million barrels per day from a revised 31.76 million in...

  • LONDON, Oct 30- British Prime Minister David Cameron is likely to send details of his proposed reforms of the European Union to fellow EU leaders in the week starting Nov. 9, a spokeswoman said on Friday. Cameron has previously said he planned to spell out his proposals in early November, a key step in his renegotiation push ahead of an in-out referendum on Britain's...

  • BRUSSELS, Oct 30- European carmakers said on Friday tougher emissions testing rules agreed this week would hurt the industry by forcing the early phase-out of some diesel models and making it harder to meet carbon dioxide limits. After hours of talks on Wednesday, European Union countries agreed a compromise deal that would still allow diesel vehicles on the...