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World Economy Economic Organizations

  • PARIS, Sept 22- French President Emmanuel Macron will announce his proposals for European Union reforms in a speech at the Paris-Sorbonne University on Tuesday, his office said on Friday. Macron has said he would make proposals on about 10 issues including strengthening the economic and monetary union, deepening European defence, reinforcing migration...

  • LONDON, Sept 22- Central banks are in danger of falling into a "debt trap" where they can't take needed action for fear of triggering defaults and economic turmoil, a senior Bank for International Settlements official said on Friday. In a speech in London, Claudio Borio, the head of the monetary and economic department at the central bank umbrella group, said it may be...

  • LONDON, Sept 22- Central banks are in danger of falling into a "debt trap" where they can't take needed action for fear of triggering defaults and economic turmoil, a senior Bank for International Settlements official said on Friday. In a speech in London, Claudio Borio, the head of the monetary and economic department at the central bank umbrella group, said it may be...

  • FLORENCE, Italy— Britain is prepared to abide by European Union rules and pay into the bloc's coffers for two years after leaving the EU in March 2019, Prime Minister Theresa May said Friday in a conciliatory speech intended to revive foundering exit talks. May traveled to Florence, Italy— birthplace of the Renaissance— in hopes of rebooting negotiations with the...

  • To protect its domestic companies, Canada currently imposes duties on any goods worth more than $16 in U.S. currency. Karl Littler, a spokesman for the Retail Council of Canada, said that raising the duty-free limit would be "an incentive to shop virtually anywhere but from Canada. He doesn't think anyone would be crazy enough to pay more for a Zegna suit in his...

  • GENEVA— The World Trade Organization has revised sharply upward its forecast for world trade growth this year to 3.6 percent, citing "resurgence in Asian trade flows" and a rebound in North American import demand. The upturn compares to what the Geneva- based trade body called a "lackluster" performance of 1.3 percent growth last year. Director-General Roberto...

  • TUNIS, Sept 20- Tunisia plans cut its budget deficit to 4.9 percent of gross domestic product in 2018, down from about 6 percent expected in 2017, as fiscal reforms take effect, the economic reforms' minister said on Wednesday. The North African country is under pressure from the International Monetary Fund and its partners to speed up reforms to create jobs and...

  • BRUSSELS— The European Union is celebrating the entry into force of a major trade agreement with Canada as a boost for multilateralism at a time when the United States is looking to renegotiate trade deals. European Commission President Jean-Claude Juncker said Wednesday that the pact exemplifies EU trade policy as "an instrument for growth that benefits...

  • PARIS— The Organisation for Economic Co-operation and Development has upgraded its economic growth forecasts for the 19- country eurozone following a run of upbeat news from the single currency bloc. The big three eurozone economies— Germany, France and Italy— all saw upward revisions. Uncertainty over the country's exit from the European Union will...

  • *Spain slow to take advantage of EU funds to tackle unemployment. But Spain took so long to jump on some of the help sent its way- namely a jobs scheme bankrolled by Europe- it risks not fully using a golden opportunity to help youngsters scarred by a deep recession, politicians, unions and jobseekers say. Yet a slow start to a European Union youth jobs and training...

  • JOHANNESBURG, Sept 19- The World Bank on Tuesday halved its 2017 growth forecast for South Africa after the economy fell into recession earlier this year. But the bank warned any prospect of recovery would "remain fragile" unless South Africa succeeds in becoming more productive. South Africa is well placed in exports markets but we don't see the country's...

  • MEXICO CITY, Sept 18- Mexico's economy minister said on Monday a successful retool of the North American Free Trade Agreement would hinge on two or three complex areas that he called "elephants in the room," just days before the next round of treaty talks in Canada. Speaking at an event in Mexico City, Ildefonso Guajardo said four chapters in the agreement could be...

  • TORONTO— Prime Ministers Theresa May of Britain and Justin Trudeau of Canada said Monday their countries are working toward a new bilateral trade deal for after the United Kingdom's departure from the European Union. Both leaders said the template for a deal would be the Comprehensive Economic Trade Agreement, which comes largely into effect this week...

  • WASHINGTON, Sept 18- Bank of England Governor Mark Carney said on Monday that Brexit is likely to hurt Britain's growth prospects in the short term and push up inflation as the country adjusts to life outside the European Union. "This makes Brexit, relative to the experience of the past half century, unique," Carney said in a speech at the International Monetary...

  • ROME- ECB Supervisor Ignazio Angeloni participates in a panel discussion at Italian Banking Conference 2017 in Rome, Italy- 0845 GMT. WASHINGTON- Bank of England Governor Mark Carney gives a lecture at the International Monetary Fund, then has a public discussion with IMF Managing Director Christine Lagarde- 1500 GMT. WEDNESDAY, SEPTEMBER 20 STOCKHOLM- Swedish...

  • ROME- ECB Supervisor Ignazio Angeloni participates in a panel discussion at Italian Banking Conference 2017 in Rome, Italy- 0845 GMT. WASHINGTON- Bank of England Governor Mark Carney gives a lecture at the International Monetary Fund, then has a public discussion with IMF Managing Director Christine Lagarde- 1500 GMT. WEDNESDAY, SEPTEMBER 20 STOCKHOLM- Swedish...

  • LONDON, Sept 17- The conundrum of stubbornly low inflation despite a pick-up in global growth and continued monetary stimulus is a "trillion dollar" question, the umbrella body for the world's leading central banks said on Sunday. The Bank for International Settlements said in its latest quarterly report that cheap borrowing rates and the rare simultaneous...

  • ROME- ECB Supervisor Ignazio Angeloni participates in a panel discussion at Italian Banking Conference 2017 in Rome, Italy- 0845 GMT. WASHINGTON- Bank of England Governor Mark Carney gives a lecture at the International Monetary Fund, then has a public discussion with IMF Managing Director Christine Lagarde- 1500 GMT. WEDNESDAY, SEPTEMBER 20 STOCKHOLM- Swedish...

  • ROME- ECB Supervisor Ignazio Angeloni participates in a panel discussion at Italian Banking Conference 2017 in Rome, Italy- 0845 GMT. WASHINGTON- Bank of England Governor Mark Carney gives a lecture at the International Monetary Fund, then has a public discussion with IMF Managing Director Christine Lagarde- 1500 GMT. WEDNESDAY, SEPTEMBER 20 STOCKHOLM- Swedish...

  • KIEV, Sept 15- The Ukrainian government on Friday approved a draft 2018 budget that foresees a deficit of 2.4 percent of gross domestic product, according to Prime Minister Volodymyr Groysman. The budget deficit is in line with the fiscal targets of Ukraine's $17.5 billion aid-for-reforms programme from the International Monetary Fund, but it still needs to...