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  • LONDON, July 31- Oil prices fell on Friday as concern over global oversupply intensified after the head of oil producers' cartel OPEC indicated there would be no cuts in production despite a huge global oversupply. Badri said rising demand would prevent a further fall in oil prices and suggested cuts in OPEC output would not have much impact on the market.

  • MOSCOW— A Kremlin official says that Russia is working to upgrade air defense missiles intended for Iran. Russia in 2010 froze a deal to supply S-300 missile systems to Iran, linking the decision to U.N. sanctions. President Vladimir Putin lifted the suspension in April after a framework Iran nuclear agreement, which earlier this month was followed by the final...

  • MOSCOW— A Kremlin aide says Russia and France have agreed on a refund amount for an undelivered French warship. French President Francois Hollande has acknowledged that France will have to give Russia a refund if it doesn't deliver the warship, whose handover to Russia was suspended last year over the Ukrainian crisis. The 1.2 billion euro deal was supposed to...

  • *Russia, OPEC did not discuss coordination. *OPEC received no request for extraordinary meeting. Oil has dropped about 15 percent this month and halved in value in the past year but neither OPEC nor Russia, the world's top producer, have cut output to support prices, hoping cheaper oil will hit U.S. shale and other rival sources.

  • MOSCOW— OPEC and Russia say they expect the global oil market to become more balanced and stable next year after the recent sharp drops. OPEC decided in June not to cut production, in a bid to retain its share of the global market in the face of a boom in shale oil production in the U.S. Russia, which is not part of OPEC but is the world's top crude producer and depends...

  • MOSCOW— The Russian ruble is falling under the pressure of cheaper oil, reviving concerns over the country's economic outlook, particularly the perniciously high inflation rate. The ruble was down 0.9 percent in Moscow trading on Thursday, at 59.2 rubles against the dollar. An "excessive" drop in the ruble would not be politically palatable, analysts from the...

  • District Judge Richard Berman ruled at the close of a hearing in federal court in Manhattan that the case against Evgeny Buryakov could go forward. Buryakov, 40, has pleaded not guilty to conspiracy and other charges alleging he purposely failed to register as a foreign agent to conceal his true role as a covert operative embedded at a Manhattan branch of...

  • MOSCOW— Russia's security chief says the Islamic State group has recruited nationals of more than 100 countries, posing a long-term threat to global stability. Alexander Bortnikov, the head of the Federal Security Service, or FSB, the main KGB successor agency, said at Wednesday's security conference that IS's aim is to create a global network of sleeper cells...

  • *Many dislike current Kiev government and Ukrainian elite. KIEV, July 29- From a basement billiard club in central Kiev, Dmytro Korchynsky commands a volunteer battalion helping Ukraine's government fight rebels in the east. Dressed in a colourful peasant-style shirt, Korchynsky told Reuters that he follows orders from the Interior Ministry, and that his...

  • KIEV, July 29- After more than a year of fighting in eastern Ukraine, the country's regular army remains disorganised and poorly equipped. "The Defence Ministry needed to test underpants for a year before approving them for use. When Moscow annexed Crimea and conflict erupted in Ukraine's east, Kiev had outdated Soviet equipment and just 180,000 troops, of whom...

  • MOSCOW, July 29- Russia's central bank said on Wednesday it had stopped its operations to replenish its international reserves from Tuesday because of a rise in market volatility. It said at the launch of the operations that it would buy between $100 and $200 million a day but has typically been purchasing $200 million. Dmitry Polevoy, an economist at ING Bank in...

  • Will Russia hold rates on Friday? Tuesday, 28 Jul 2015 | 11:40 AM ET
    Will Russia hold rates on Friday?

    Joseph Dayan, head of markets at BCS Financial Group, explains why he thinks Russia's central bank will "pause and wait" when it comes to cutting interest rates.

  • *GDP down 4.2 pct year on year in June. MOSCOW, July 28- The sharp decline in Russia's economy may have almost run its course, official data showed on Tuesday, slowed by a huge devaluation of the rouble and heavy government spending on anti-crisis measures. The economy has slumped as a result of Western sanctions linked to the Ukraine conflict and last year's...

  • MOSCOW, July 28- Russia's gross domestic product shrank by 4.2 percent in June from a year earlier but the contraction was shallower than May's revised 4.8 percent fall, adding to signs the economy may have started to stabilise. Russia's growth prospects deteriorated sharply midway through last year, when an existing slowdown was compounded by Western...

  • Russia considers ban on import of Dutch flowers Monday, 27 Jul 2015 | 2:55 PM ET

    MOSCOW— Russia says it is considering banning imports of cut flowers from The Netherlands, a move that would aggravate tensions between the two countries already at odds over the downing of flight MH17. National veterinary agency Rosselkhoznadzor said Monday it has urged the European Union's organization for plant protection to review certification for...

  • Do your investments operate in China? Read this Friday, 24 Jul 2015 | 12:09 PM ET
    A worker repairs steam locomotive parts in Fuxin coal mine locomotive repair plant in Fuxin, China.

    From software companies to drugmakers to fast food chains, economic weakness in China is denting multinationals' financials this earnings season.

  • MOSCOW, July 24- Russian gas company Gazprom said on Friday it had lodged a case against Turkmenistan's Turkmengaz at the international arbitration court in Stockholm over the price in a supply contract. The move came two weeks after Turkmenistan accused Gazprom of not paying for gas supplied from the Central Asian country this year. Gazprom, the world's top...

  • Cramer: Smartest stocks of the S&P riptide Thursday, 23 Jul 2015 | 6:12 PM ET
    A multirotor quadcopter drone used for aerial photography flies near a wind turbine.

    Jim Cramer shares the strongest themes of the market, now that the bulk of earnings season is over.

  • BERLIN, July 23- German exports to Russia slumped by 34 percent in the first five months of the year to 4.4 billion euros due to Western sanctions imposed on Moscow over the Ukraine crisis, a lobby group representing German industry in eastern Europe said on Thursday. If this trend continues, exports to Russia could fall by around a third to about 20 billion euros...

  • DIARY-Emerging Markets Economic Events to Aug 4 Tuesday, 21 Jul 2015 | 8:01 PM ET

    PRETORIA- South African Reserve Bank interest rate decision- 1300 GMT. ANKARA- Central Bank of Turkey to hold monetary policy committee meeting to set interest rates. JERUSALEM- Bank of Israel interest rate decision- 1330 GMT.