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World Economy International Organizations

  • BRUSSELS, Feb 28- European Union countries should test bank defenses against cyber-attacks using a common set of requirements, a senior EU official said on Tuesday, as the bloc plans measures to boost the retail market for financial products. Cyber attacks against banks have increased in numbers and sophistication in recent years, raising questions on...

  • BRUSSELS, Feb 28- Germany will back a plan to strengthen carbon prices, a senior official said on Tuesday, ahead of a meeting of European Union environment ministers on balancing the needs of industry with cutting emissions in reforming the carbon market. EU member states such as Germany, Italy, Austria and Greece are prioritizing measures to ensure that...

  • *Oil rises on expectations of further OPEC cuts. Under the deal, OPEC agreed to curb output by about 1.2 million barrels per day from Jan. 1, the first cut in eight years. In addition, 11 non- OPEC oil producers have promised to cut their output- Russia reduced production by 124,000 barrels per day this month compared with October levels, Interfax reported on Tuesday...

  • *Oil rises on expectations of further OPEC cuts. "With the prospect of OPEC extending the current cuts even longer, we would expect to see prices continue to push higher from here," ANZ said in a note. Under the deal, OPEC agreed to curb output by about 1.2 million barrels per day from Jan. 1, the first cut in eight years.

  • DUBAI/ LONDON, Feb 28- Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said. This is the level the OPEC heavyweight and its Gulf allies- the United Arab Emirates, Kuwait and Qatar- believe would encourage investment in new fields but not lead to a jump in U.S. shale output, the sources said.

  • *Oil rises on expectations of further OPEC cuts. "With the prospect of OPEC extending the current cuts even longer, we would expect to see prices continue to push higher from here," ANZ said in a note. Under the deal, OPEC agreed to curb output by about 1.2 million barrels per day from Jan. 1, the first cut in eight years.

  • *Oil rises on expectations of further OPEC cuts. OPEC has so far surprised the market by showing record compliance with oil-output curbs and could improve further in coming months as the biggest laggards- the United Arab Emirates and Iraq- pledge to catch up quickly with their targets. "With the prospect of OPEC extending the current cuts even longer, we would...

  • OPEC has so far surprised the market by showing record compliance with oil-output curbs and could do so further in coming months as the biggest laggards- the United Arab Emirates and Iraq- pledge to catch up quickly with their targets. "With the prospect of OPEC extending the current cuts even longer, we would expect to see prices continue to push higher from here,"...

  • *UAE and Iraq pledge to catch up with output cut targets. *Iran, Libya and Nigeria remain exempt from OPEC production cuts. NEW YORK, Feb 27- Oil prices ended little changed on Monday as the prospect for U.S. crude production to continue growing offset reports of high compliance to the OPEC production cut agreement and record bullish bets that prices would rise...

  • Trump has threatened to slap hefty taxes on imports from Mexico to the United States and to scuttle the North American Free Trade Agreement with Mexico and Canada if it cannot be renegotiated to benefit U.S. interests. Femsa, which said it would raise capital expenditure modestly this year to $1.3 billion, flagged uncertainty over NAFTA, foreign direct...

  • MOSCOW, Feb 27- Russia is proposing the creation of an OPEC- like organization for the global aluminum industry, TASS news agency quoted Russian Industry and Trade Minister Denis Manturov as saying on Monday. OPEC, the Organization of the Petroleum Exporting Countries, unites some of the world's largest oil producers. Its members, together with non- OPEC oil...

  • MOSCOW, Feb 27- Russia is proposing the creation of an OPEC- like organisation for the global aluminium industry, TASS news agency quoted Russian Industry and Trade Minister Denis Manturov as saying on Monday. OPEC, the Organization of the Petroleum Exporting Countries, unites some of the world's largest oil producers. Its members, together with non- OPEC oil...

  • BRUSSELS, Feb 27- The European Union will not pick an immediate fight with the City of London over its right to clear euro-denominated securities, EU officials said on Monday, as Britain prepares to trigger the process of quitting the bloc. On a day when the EU executive made public tough language on Brussels' policing of financial services providers from non-EU...

  • ABUJA, Feb 27- OPEC- led oil production cuts have been well supported by all participating countries despite some teething troubles for non- OPEC members, the cartel's secretary-general, Mohammed Barkindo, said on Monday. Barkindo also said OPEC remained optimistic that the "worst was over" for the oil market, almost two months into the group's supply cut deal with...

  • *EU minus Britain to meet in Rome on March 25. *Some see "multi-speed Europe" as divisive, threat. BRUSSELS, Feb 27- European Union chief executive Jean-Claude Juncker will propose to national leaders next month a handful of options for shoring up unity once Britain launches a withdrawal that some fear could trigger a further unravelling of the bloc.

  • HAMBURG, Feb 27- The governments of the G20 leading economies must increase their efforts to strengthen financial market regulation, a German government spokesman said on Monday. Germany holds the presidency of the G20 leading economies this year, a platform Chancellor Angela Merkel wants to use to safeguard multilateral cooperation after U.S.

  • Feb 27- Mexico's economy minister Ildefonso Guajardo warned that his country will break off negotiations on the North American Free Trade Agreement if the United States were to propose tariffs on products from Mexico, Bloomberg reported on Monday. "The moment that they say,' We're going to put a 20 percent tariff on cars,' I get up from the table," Guajardo told...

  • NEW YORK, Feb 26- Passive investment funds are poised to shift an estimated $2 billion from far-term to near-term crude futures over the next week, anticipating an energy market rally as a historic OPEC output cut slashes supply. The switch may foreshadow the end of a global oil glut that built up during a two-year price war. On Friday, the Brent May contract price...

  • LAUNCESTON, Australia, Feb 27- If you were looking for evidence of reduced crude oil supply from OPEC and its main ally in cutting output to boost prices, Russia, then stay away from Asia's top importers. January import data from China, India and Japan do little to show the impact of reduced crude supply, but do suggest that prices have risen in response to move by the...

  • SINGAPORE, Feb 27- Oil prices rose on Monday, with the market set to rise for five of seven sessions as a global supply glut appears to ease, but rising U.S. production limited gains. But the market has been supported within a tight $4 to $5 range since November, when the Organization of the Petroleum Exporting Countries and other producers agreed to cut production.