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  • LONDON, Oct 12- Oil prices rose on Monday after Kuwait's oil minister said economic growth and the removal of high-cost producers would help tighten global fuel balances. Kuwait Oil Minister Ali al-Omair told Reuters the Organization of the Petroleum Exporting Countries would stick to its output policy, which has focused on building market share at the...

  • LONDON, Oct 12- Oil prices rose on Monday after Kuwait's oil minister said economic growth and the removal of high-cost producers would help tighten global fuel balances. Kuwait Oil Minister Ali al-Omair told Reuters the Organization of the Petroleum Exporting Countries would stick to its output policy, which has focused on building market share at the...

  • SHANGHAI, Oct 12- Now is not the right time for the United States to raise interest rates, given the global economic situation, China's Finance Minister Lou Jiwei said in an interview published in the China Business News on Monday. Speaking on the sidelines of the annual meeting of the World Bank and International Monetary Fund in Lima, Lou said developed...

  • LIMA, Peru, Oct 11- A senior International Monetary Fund official has urged Japan to go ahead with a sales tax hike scheduled for April 2017 to maintain its long-term fiscal credibility. Mitsuhiro Furusawa, the IMF's deputy managing director, warned on Sunday that flexible fiscal policy and structural reforms must accompany ultra-loose monetary policy for...

  • FRANKFURT, Oct 11- The European Investment Bank will examine whether Volkswagen used any loans from the European Union to cheat on emissions tests for diesel vehicles and could demand money back, EIB chief Werner Hoyer told a German newspaper. Europe's largest carmaker has admitted cheating in diesel emissions tests in the United States and Germany's...

  • *Indonesia, OPEC pump 32.50 mbpd, far above 30 mbpd OPEC target. Indonesia's return to OPEC will expand the group's members to 13 and add about 900,000 bpd to OPEC output. "I would be concerned that if you change the OPEC ceiling it would open the door to the whole debate about quotas," said an OPEC watcher who declined to be identified.

  • LIMA, Oct 10- Brazilian Finance Minister Joaquim Levy told Reuters on Saturday that President Dilma Rousseff backed his policies, and he intends to stay on the job as long as needed to put the books in order and pull the economy out of its slump. "She has manifested her support with actions," Levy said on the sidelines of the International Monetary Fund annual...

  • LIMA, Oct 10- Switzerland's central bank sees a low risk of a negative price and wage spiral and is hopeful that a recent "slight" depreciation in the currency will continue,. In an interview on the sidelines of International Monetary Fund meetings in Lima, SNB Chairman Thomas Jordan repeated a pledge to keep interest rates in negative territory and intervene in...

  • LIMA, Oct 10- Bank of Canada Governor Stephen Poloz painted a reasonably cheery picture on Saturday of the Canadian and global economic outlook despite some downgraded forecasts and concerns about China. He said it was "maybe an overstatement" to characterize as gloomy the forecasts by the International Monetary Fund and the talk about them at the annual...

  • LIMA, Oct 10- Bank of Canada Governor Stephen Poloz painted a reasonably cheery picture on Saturday of the Canadian and global economic outlook despite some downgraded forecasts and concerns about China. He said it was "maybe an overstatement" to characterize as gloomy the forecasts by the International Monetary Fund and the talk about them at the annual...

  • LONDON, Oct 10- Calls for central banks in advanced economies to raise interest rates to discourage investors building up leverage in emerging market assets could be misguided, a deputy governor of the Bank of England said on Saturday. Speaking at a panel at the International Monetary Fund conference in Lima, she said it was preferable to use macroprudential...

  • LONDON, Oct 10- Stuart Rose, former boss of the Marks and Spencer store chain and one of Britain's best-known businessmen, will head the campaign to keep the country in the European Union, the "In Campaign" said as it prepared to launch its bid on Monday. "I believe that Britain is stronger in Europe," Rose, who currently chairs online supermarket Ocado and also...

  • LONDON, Oct 10- Lord Stuart Rose, former boss of Marks and Spencer and one of Britain's most well-known businessmen, will head the campaign to keep the country in the European Union, the "In Campaign" said. Rose, who is currently chairman of online supermarket Ocado, is a member of the House of Lords, Britain's unelected upper chamber, representing Cameron's...

  • DIARY-Top Economic Events to Oct 22 Friday, 9 Oct 2015 | 8:01 PM ET

    LIMA- Bank of Canada Governor Stephen Poloz will give a speech at the Institute of International Finance- 0645 GMT. LIMA- IMF/World Bank discussion on "What Makes a' Sustainable City'?" LIMA- IMF/World Bank discussion on "Ready for Takeoff: Implementing the Post-2015 Agenda".

  • LIMA, Oct 9- The world's rich countries most likely will be able to reach the goal of providing $100 billion a year by 2020 to help poor countries combat and adapt to climate change, as the result of increased pledges made in Lima, key ministers said on Friday. "This bodes well for meeting the goal of $100 billion," French Foreign Minister Laurent Fabius told a news...

  • LIMA, Oct 9- China made a fresh push for its yuan currency to be included in the International Monetary Fund's benchmark currency basket on Friday and argued that recent reforms put it closer to qualifying. Beijing is pushing for the yuan, also known as the renminbi, to be included in the IMF's Special Drawing Rights basket as part of its long-term strategic goal of...

  • Oil market needs an anchor, Saudi adviser says Friday, 9 Oct 2015 | 8:40 AM ET

    The comments by Ibrahim al-Muhanna suggest that Saudi Arabia and the rest of OPEC understand that they are unable to manage the oil market alone for the time being, and would like to see some kind of collective mechanism to reduce the current instability in the market. Top oil exporter and OPEC heavyweight Saudi Arabia was the driving force behind OPEC's...

  • LIMA, Oct 8- Central banks have little room for error in a low-growth world in which over-leveraged and commodity-dependent emerging economies and a slowing China are major risks, top international financiers told the International Monetary Fund's meeting. Federal Reserve and the Bank of England, are holding their fire. For both the Fed and the Bank of England,...

  • DIARY-Top Economic Events to Oct 21 Thursday, 8 Oct 2015 | 8:01 PM ET

    LIMA- World Bank holds a discussion on " Unleashing Private Investment in Renewable Energy"- 1600 GMT. LIMA- IMF/World Bank discussion on "Combating Illicit Financial Flows: Turning Commitments into Action"- 1600 GMT. LIMA- IMF/World Bank discussion on "Structural Reforms, Inequality, and Growth"- 1630 GMT.

  • "The exact timing of the Fed move is not decisive for the timing of the move by the Bank of England," Carney said in a seminar at the annual meeting of the International Monetary Fund. Carney made the point that in the five rate cycles since Britain adopted inflation targeting, the Bank of England moved before the Fed in two of them. Asked if the market was right in...