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World Economy International Organizations

  • DAVOS, Switzerland, Jan 25- Canada's foreign minister and Mexico's economy minister struck an upbeat note on Thursday on the outlook for talks with the United States on North American Free Trade Agreement, saying they agreed the deal needed modernizing. Canadian Foreign Minister Chrystia Freeland said nobody was expecting a deal to be struck in the current...

  • DAVOS, Switzerland, Jan 25- Canada's foreign minister and Mexico's economy minister struck an upbeat note on Thursday on the outlook for talks with the United States on North American Free Trade Agreement, saying they agreed the deal needed modernizing. Canadian Foreign Minister Chrystia Freeland said nobody was expecting a deal to be struck in the current...

  • DAVOS- CANADA'S FOREIGN MINISTER FREELAND SAYS NAFTA "ABSOLUTELY NOT" DEAD, APPROACHING NEGOTIATIONS WITH A SPIRIT OF POSITIVE INTENT, AND ASSUMING SAME OF COUNTERPARTIES.

  • DAVOS, Switzerland, Jan 25- Nigeria's vice president said on Thursday that a weaker U.S. dollar did not necessarily hurt his oil-producing nation. OPEC member Nigeria is Africa's largest oil producer. "A weaker dollar doesn't necessarily hurt Nigeria," said Osinbajo, speaking at the World Economic Forum in Davos.

  • LONDON, Jan 25- The amount of dollar-denominated debt from countries and companies outside the United States has hit a record $11 trillion, new data from the Bank for International Settlements showed on Thursday. The figures from the BIS, known as the central bank to the world's central banks, showed the $11 trillion amount had been reached following a 5.2...

  • *Brent reaches $71.20, highest since December 2014. *OPEC- led oil supply curbs support market. LONDON, Jan 25- Oil hit $71 a barrel on Thursday for the first time since 2014, supported by OPEC- led supply curbs, a record-breaking run of declines in U.S. crude inventories and a weaker U.S. dollar.

  • *Max Schrems can sue Facebook in Austria as an individual. The Court of Justice of the European Union said Max Schrems could bring a case against the U.S. company and benefit from consumer law as an individual, but could not bring claims on behalf of the more than 25,000 signatories to his lawsuit. "Mr Schrems may bring an individual action in Austria against...

  • GENEVA, Jan 25- South Korea has launched a trade dispute at the World Trade Organization to challenge U.S. safeguard tariffs on washing machines, a filing published by the WTO showed on Thursday.

  • SOUTH KOREA OPENS TRADE DISPUTE AT WORLD TRADE ORGANIZATION TO CHALLENGE U.S.

  • *Brent reaches $71.20, highest since December 2014. *OPEC- led oil supply curbs support market. LONDON, Jan 25- Oil hit $71 a barrel on Thursday for the first time since 2014, supported by OPEC- led supply curbs, a record-breaking run of declines in U.S. crude inventories and a weaker U.S. dollar.

  • BRUSSELS, Jan 25- An Austrian privacy activist cannot bring a class action lawsuit against Facebook for alleged privacy violations but can sue the company himself in his home country, the European Union's highest court ruled on Thursday. The Court of Justice of the European Union said Max Schrems could bring a case against the U.S. company and benefit from...

  • BRUSSELS, Jan 25- An Austrian privacy activist can not bring a class action lawsuit against Facebook for alleged privacy violations but can himself sue the company in his home court, the highest European Union court ruled on Thursday. The Court of Justice of the European Union said Max Schrems could bring a case against the U.S. company and benefit from consumer...

  • *Market generally supported by OPEC/ Russia supply restraint. *Rising U.S. output still casts shadow over OPEC- led cuts. SINGAPORE, Jan 25- Brent oil prices hit $71 per barrel on Thursday for the first time since 2014 as the dollar continued to weaken and crude inventories in the United States fell for a 10th straight week, amid ongoing supply cutbacks by OPEC and top...

  • BRUSSELS, Jan 25- The European Union is to provide 578 million euros to build a power link between Spain and France to carry excess Spanish renewable energy and ease one of Europe's worst network bottlenecks, an EU source said. "Only a fully interconnected market will improve Europe's security of supply, ending the dependence of single suppliers and give...

  • *Market generally supported by OPEC/ Russia supply restraint. *But rising U.S. output casts shadow over OPEC- led output cuts. SINGAPORE, Jan 25- Brent oil prices hit $71 per barrel on Thursday for the first time since 2014 as the dollar continued to weaken and crude inventories in the United States fell for a 10th straight week amid ongoing supply cutbacks by OPEC and...

  • *Market generally supported by OPEC/ Russia supply restraint. Brent crude futures, the international benchmark for oil prices, were at almost $71 per barrel- $70.98 a barrel at 0232 GMT- a level not seen since early December 2014 and up 45 cents, or 0.6 percent, from their last close. Price support has also been coming from supply restrictions led by a group of...

  • *Oil markets generally supported by OPEC/ Russia supply restraint. *But rising U.S. output looms over OPEC- led output cuts. They had edged down to $70.86 by 0105 GMT, which was still up 33 cents, or 0.5 percent, from their last close.

  • WASHINGTON, Jan 24- Paul Romer stepped down as the World Bank's chief economist on Wednesday after he came under fire for saying that Chile's rankings in a closely watched "Doing Business" report may have been deliberately skewed under socialist President Michelle Bachelet. Romer's resignation, just 15 months after taking the job, was announced in an internal...

  • The sixth and penultimate round of negotiations to update the North American Free Trade Agreement opened in Montreal on Tuesday with time running out for Canada and Mexico to settle big differences with the United States. With financial markets skittish about the possible collapse of a $1.2 trillion global trading bloc, Canada and Mexico say they are...