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World Economy Economic Organizations

  • *Angola issues tender to buy refined products-sources. For years OPEC member Angola has largely relied on commodities trader Trafigura for fuel imports. Heavily reliant on oil sales for government income, Angola was crushed by the 2014 oil price crash, which pushed its economy into recession and created foreign currency shortages that crippled business.

  • Time is running out for Canada and Mexico to address U.S. demands for major changes to the North American Free Trade Agreement, which President Donald Trump says has damaged the American economy. Officials gathered in a Montreal hotel for the sixth and penultimate round of talks, which are supposed to conclude by the end of March to avoid a clash with Mexico's...

  • *South Korea, China to look for support from WTO members. SEOUL/ BEIJING, Jan 23- China and South Korea condemned steep import tariffs on washing machines and solar panels imposed by U.S. Trump's actions on trade during his first year had been less alarming than many outside the United States had feared, but Louis Kuijs, head of Asia economics at consultancy Oxford...

  • *Strong demand comes as OPEC, Russia withhold oil supplies. LONDON, Jan 23- Oil prices rose on Tuesday, lifted by healthy world economic growth prospects and production curbs by OPEC, Russia and their allies. Brent crude futures were up 67 cents at $69.70 a barrel at 1401 GMT, not far off the three-year high of $70.37 reached on Jan. 15.

  • *Strong demand comes as OPEC/ Russia withhold oil supplies. SINGAPORE, Jan 23- Oil prices rose on Tuesday, lifted by healthy economic growth as well as the ongoing supply curtailments by a group of exporters including OPEC and Russia. Brent crude futures were at $69.38 a barrel at 0756 GMT, up 35 cents, or 0.5 percent, from their last close, not far off the three-year high...

  • PALESTINE, Texas/ MEXICO CITY, Jan 23- Workers at the Sanderson Farms plant in Palestine, Texas, are cutting up chickens for export to Mexico, a market that has become a pillar of the town's economy and a key focus of the U.S. poultry sector. But the Mexican market may find its way to the chopping block if talks to renegotiate the North American Free Trade Agreement...

  • *Strong demand comes as OPEC/ Russia withhold oil supplies. SINGAPORE, Jan 23- Oil prices rose on Tuesday, lifted by healthy economic growth as well as the ongoing supply restraint by a group of exporters around OPEC and Russia. Spot Brent crude futures were at $69.41 at 0409 GMT, up 38 cents, or 0.55 percent, from their last close, not far off the Jan. 15 three-year high of...

  • SINGAPORE, Jan 23- Oil prices rose on Tuesday, lifted by healthy economic growth as well as the ongoing supply restraint by a group of exporters around OPEC and Russia. Spot Brent crude futures were at $69.33 at 0148 GMT, up 30 cents, or 0.4 percent, from their last close, not far off the Jan. 15 three-year high of $70.37 a barrel. Traders said oil markets were generally...

  • DAVOS, Switzerland, Jan 22- The International Monetary Fund on Monday revised up its forecast for world economic growth in 2018 and 2019, saying sweeping U.S. tax cuts were likely to boost investment in the world's largest economy and help its main trading partners. "Political leaders and policymakers must stay mindful that the current economic momentum...

  • Jan 22- The International Monetary Fund on Monday revised up its forecast for world economic growth in 2018 and 2019 saying that sweeping U.S. tax cuts were expected to boost investment in the world's largest economy and help its main trading partners. It also said that economic activity in Europe and Asia was surprisingly stronger than expected last year, and...

  • WASHINGTON, Jan 19- The United States mistakenly supported China's membership of the World Trade Organization in 2001 on terms that have failed to force Beijing to open its economy, the Trump administration said on Friday as it prepares to clamp down on Chinese trade. "It seems clear that the United States erred in supporting China's entry into the WTO on terms...

  • Jan 19- Kansas City Southern, a U.S. railroad with extensive operations in Mexico, sought to ease investor fears on Friday over the future of the North American Free Trade Agreement, touting forecasts of solid freight volumes and a stronger economy in 2018.. Uncertainty over NAFTA negotiations looms over the Kansas City, Missouri- based company, which dominates...

  • Jan 19- Kansas City Southern, a U.S. railroad with extensive operations in Mexico, sought to ease investor fears on Friday over the future of the North American Free Trade Agreement, touting forecasts of solid freight volumes and a stronger economy in 2018.. Uncertainty over the future of NAFTA looms over the Kansas City, Missouri- based company, which dominates...

  • GENEVA, Jan 19- The World Trade Organization, created in 1995 as a defence against trade wars and protectionism, is facing an unprecedented range of fundamental threats, some of which are likely to be aired when trade ministers meet in Davos next week. Officials attending the World Economic Forum in Davos include U.S. Trade Representative Robert Lighthizer,...

  • The remarkably sanguine view from economists in Mexico, Canada and the United States is a sign many experts are taking U.S. "We expect a modernized agreement after a bumpy and lengthy negotiation and approval process," said Carlos Capistran, head of Canada and Mexico economics at Bank of America Merrill Lynch. Canada and Mexico have widely disputed those issues,...

  • Trump said that terminating the North American Free Trade Agreement would result in the "best deal" to revamp the 24- year-old trade pact with Canada and Mexico in favor of U.S. interests. The future of NAFTA future was the most significant downside risk cited by the Bank of Canada on Wednesday, in an otherwise bullish report on the outlook for Canada's economic...

  • OTTAWA, Jan 17- The Bank of Canada raised interest rates on Wednesday, as expected, as job growth and firmer inflation outweighed the cloud of NAFTA uncertainty, but the head of the central bank admitted the decision was not a no-brainer. It's not that we were arguing but we were debating the pros and cons... the big cloud over the forecast, as well as our discussion, is...

  • BERLIN, Jan 16- Germany's current account surplus was the world's largest in 2017, the Munich- based Ifo economic institute said on Tuesday, unveiling a record high reading likely to renew criticism of the economic and fiscal policies in Europe's largest economy. The International Monetary Fund and the European Commission have for years urged Germany to lift...

  • CAIRO, Jan 12- Egypt's inflation dropped sharply in December, the latest apparent indication of economic improvement after the 2016 currency float hit Egyptians hard. Prices climbed to record highs and the Egyptian pound lost half its value after the central bank floated it in November 2016 in a bid to secure a $12 billion International Monetary Fund loan to...

  • SAO PAULO, Jan 11- The Mexican peso fell on Thursday by the most in nearly three weeks, extending a slide after reports the United States could pull out of the North American Free Trade Agreement. President Donald Trump will leave the accord- a severe setback for Mexico's economy, which depends on exports to the United States. Among major equities markets, Brazil's...