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World Economy International Organizations

  • MOSCOW, May 10- Russia has steeply raised Urals oil supplies to India, taking market share from OPEC countries that are cutting production as part of a global pact to prop up prices, traders said and shipping reports showed on Wednesday. India's main crude suppliers, Saudi Arabia and Iraq, cut exports to India this year due to production curbs under the agreement...

  • *EU presents mid-term review of digital strategy. BRUSSELS, May 10- The European Union executive is planning a law to target unfair practices by leading online players such as Apple and Google that smaller European competitors say is an abuse of their market positions. The European Commission said on Wednesday it would prepare an initiative by the end of the...

  • *OPEC to meet in Vienna later this month. LONDON, May 10- Oil prices rose on Wednesday after a larger than expected fall in U.S. crude inventories and on attempts by OPEC to rebalance an oversupplied market by cutting output. Oil was also buoyed by a Reuters report on Wednesday that Saudi Arabia would cut crude supplies to Asia.

  • *Saudi cuts supplies to meet OPEC output commitments. TOKYO, May 10- Saudi Arabia, the world's biggest oil exporter, has notified at least two Asian refiners of its first cuts in crude allocations for regional buyers since an OPEC output reduction took effect in January, two refining sources told Reuters on Wednesday. OPEC has previously kept supplies to clients...

  • LONDON, May 10- The European Union should think carefully before forcing through any changes to where clearing of euro-denominated securities like derivatives and bonds is located after Brexit, the top U.S. derivatives regulator said on Wednesday. Brussels is looking at whether euro-denominated clearing, an activity dominated by London, should be moved to...

  • *Saudi Arabia expects OPEC output cuts to be extended. *OPEC to meet later this month. TOKYO, May 10- Oil futures rose on Wednesday after Reuters reported Saudi Arabia would cut supplies to the region as OPEC tries to counter rising U.S. output that is threatening to derail its attempts to end a sustained global crude glut.

  • *Saudi Arabia expects OPEC output cuts to be extended. *OPEC to meet later this month. TOKYO, May 10- Oil futures rose in Asian trading on Wednesday after Reuters reported Saudi Arabia would cut supplies to the region as OPEC battles against rising U.S. output that is threatening to derail its attempts to end a sustained global glut in crude.

  • TOKYO, May 10- Oil futures rose in Asian trading on Wednesday after Reuters reported that Saudi Arabia would cut supplies to the region as OPEC battles against rising U.S. production that is threatening to derail its attempts to end a sustained global glut in crude. Global benchmark Brent futures were up 25 cents, or 0.5 percent, at $48.98 a barrel at 0028 GMT.

  • MEXICO CITY, May 9- Mexico and the European Union might leave some agricultural goods out of a new free trade deal that they want to wrap up this year, the EU's ambassador to Mexico said on Tuesday, citing beef and dairy as "sensitive" sectors. Mexico and the 28- nation bloc have been working to upgrade an existing accord dating from 2000 that mainly slashed tariffs on...

  • UNITED NATIONS, May 9- The European Union urged the United States on Tuesday to keep funding U.N. agencies and stay committed to a global deal combating climate change as Washington pushed the 28- state bloc to increase its pressure on Syria, North Korea and Iran. Agencies such as the U.N. children's agency UNICEF, the World Food Progamme and the U.N. refugee agency...

  • Higher output in non- OPEC countries, particularly the United States, Canada and Brazil, has offset OPEC's deal reached last year to cut production and kept pressure on oil prices. The Organization of the Petroleum Exporting Countries and non- OPEC member countries will meet in Vienna on May 25 to discuss whether to continue output cuts of 1.8 million bpd in an...

  • *Concerns over China slowdown, U.S. demand also drag. *Saudi Arabia says to "do whatever it takes" to balance markets. NEW YORK, May 9- Oil prices fell on Tuesday, rattled by concern over slowing demand, a rising U.S. dollar and increasing U.S. crude output that has shaken investors' faith in the ability of OPEC to rebalance the market.

  • MEXICO CITY, May 9- A tough U.S. proposal on bilateral sugar trade with Mexico sets a bad precedent for an impending renegotiation of the North American Free Trade Agreement, the head of Mexico's sugar chamber, Juan Cortina, said on Tuesday. President Donald Trump seeks to renegotiate the NAFTA pact with Mexico and Canada and to build a wall on the U.S.-Mexican...

  • NEW YORK, May 9- Higher crude output from the United States should pressure global oil prices through the end of 2018, the U.S. government said on Tuesday, ahead of a meeting later this month at which OPEC and non-member producers will discuss extending supply cuts. "Higher oil production from the United States, along with rising oil output from Canada and Brazil, is...

  • *Concerns over China slowdown, U.S. demand also drag. *Saudi Arabia says to "do whatever it takes" to balance markets. NEW YORK, May 9- Oil prices fell on Tuesday, rattled by concern over slowing demand, a rising U.S. dollar and increasing U.S. crude output that has shaken investors' faith in the ability of OPEC to rebalance the market.

  • *Saudi Arabia says to "do whatever it takes" to balance markets. LONDON, May 9- Oil prices fell on Tuesday, surrendering earlier gains, rattled by concern over slowing demand and the rise in U.S. crude output that has shaken investors' faith in the ability of OPEC to rebalance the market. Brent crude futures were down 39 cents at $48.95 per barrel by 1400 GMT, off an...

  • *Gibraltar no longer expects to obtain special status. BRUSSELS, May 9- Gibraltar is preparing for a post-Brexit setup in which its firms will have no longer access to the European Union market but will maintain a preferential relationship with Britain, a top Gibraltar financial official said on Tuesday. He said Gibraltar did not expect to obtain a "special...

  • LONDON, May 9- A draft European Union law on tightening supervision of euro clearing houses in Britain after Brexit would better protect the bloc's financial system, a top EU markets regulator said. The London Stock Exchange's LCH clears the bulk of euro-denominated swaps, an activity that will be outside EU jurisdiction from 2019 after Britain leaves the bloc.

  • *Saudi Arabia says to "do whatever it takes" to balance markets. LONDON, May 9- Oil rose on Tuesday but faced headwinds from concern over slowing demand and the rise in U.S. crude output that has shaken investors' faith in the ability of OPEC to rebalance the market. Brent crude futures were up 9 cents at $49.43 per barrel at 1110 GMT, above a session low of $49.18, while U.S.

  • *Saudi Arabia says will "do whatever it takes" to balance markets. LONDON, May 9- Oil prices rose on Tuesday, but faced headwinds from concern over slowing demand and the rise in U.S. crude output that has shaken investors' faith in the ability of OPEC to rebalance the market. Brent crude futures were up 20 cents at $49.54 per barrel at 0852 GMT, above a session low of $49.18,...