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  • LONDON, Nov 14- Global oil supply will outpace demand throughout 2019, as a relentless rise in output swamps growth in consumption that is at risk from a slowing economy, the International Energy Agency said on Wednesday. For the first half of 2019, based on its outlook for non- OPEC production and global demand, and assuming flat OPEC production, the IEA said the...

  • BERLIN, Nov 14- Germany's economy contracted for the first time since 2015 in the third quarter as global trade disputes and problems in the auto industry put the traditional growth engine of exports into reverse, raising concerns that a long expansion is faltering. But the Economy Ministry said the upswing would resume in the fourth quarter, adding that the...

  • GENEVA, Nov 14- Iran executed two men accused of economic crimes on Wednesday, part of an effort to stem financial misconduct as the country faces an economic crisis and new U.S. sanctions targeting its oil sector. Special courts focused on financial crimes were set up in August with the approval of Supreme Leader Ayatollah Ali Khamenei, the highest authority in...

  • BERLIN, Nov 14- Germany's BDI industry association cut its 2018 export growth forecast for Europe's largest economy to 3 percent from 3.5 percent on Wednesday, the second cut in as many months.

  • BAGHDAD, Nov 14- Iraq has agreed with Iran to exchange Iraqi food items for Iranian gas and energy supplies, two Iraqi government officials said on Wednesday. "The American deadline of 45 days to stop importing Iranian gas is not enough at all for Iraq to find an alternative source," the first official said. Washington granted Iraq a waiver to be able to import Iranian...

  • *China data fuels fears of slowing global growth. One is the news yesterday on the potential easing in trade tension between U.S. and China... and secondly the continued decline in oil prices which benefit net importers such as the Indian rupee, "said Khoon Goh, Head of Asia Research at ANZ. "So, we are seeing a divergence between FX and equities in Asia where the equity...

  • JOHANNESBURG, Nov 14- Shares in South Africa's MTN Group gave up early gains triggered by a media report on Wednesday that Nigerian authorities could reduce the $10.1 billion sum they are demanding from the telecoms company in a dispute. Nigerian newspaper Vanguard, without naming its sources, said Nigeria's government, working through the central bank, may...

  • BARCLAYS APPOINTED BY ABU DHABI COMMERCIAL BANK TO ADVISE ON MERGER PLANS- SOURCES.

  • ABU DHABI/ DUBAI, Nov 14- Barclays has been appointed by Abu Dhabi Commercial Bank to advise on a potential merger plan involving Union National Bank and Al Hilal Bank, banking sources told Reuters. ADCB, majority owned by the Abu Dhabi government and the second largest bank in the emirate after First Abu Dhabi Bank, declined to comment. FAB was created by last year's...

  • BEIJING, Nov 14- German automaker Daimler AG said on Wednesday it plans to invest 1.1 billion yuan in a second research and development center in Beijing to help accelerate localisation of Mercedes-Benz vehicle models in China. China, the world's biggest auto market, is Daimler's single largest market globally. We remain positive for further growth...

  • BEIJING, Nov 14- German automaker Daimler AG said on Wednesday it plans to invest 1.1 billion yuan in a second research and development centre in Beijing to help accelerate localisation of Mercedes-Benz vehicle models in China. China, the world's biggest auto market, is Daimler's single largest market globally. We remain positive for further growth...

  • BAGHDAD, Nov 14- Iraq has agreed with Iran to exchange Iraqi food items for Iranian gas and energy supplies, two Iraqi government officials said on Wednesday. Baghdad is now seeking U.S. approval to allow it to import Iranian gas which is used in its power stations, and needs more time to find an alternative source, they said. Washington granted Iraq a waiver to be able...

  • LONDON, Nov 14- Global oil supply will outpace demand throughout 2019, as a relentless rise in output swamps growth in consumption that is at risk from a slowing economy, the International Energy Agency said on Wednesday. "In 1 H19, based on our outlook for non- OPEC production and global demand, and assuming flat OPEC production... the implied stock build is currently...

  • LONDON, Nov 14- The euro hovered below $1.13 on Wednesday as Italy re-submitted its draft budget for next year to the European Commission and traders prepared for economic growth numbers due out later. Sterling, which surged on Tuesday after Britain and the European Union agreed a draft Brexit deal, was calm as traders prepared for Prime Minister Theresa May's...

  • *Russia has cut oil production by 20,000 bpd in Nov from Oct. SINGAPORE, Nov 14- Russia's energy minister said on Wednesday no emergency action was warranted to stem a decline in oil prices, as crude benchmarks fell again. Alexander Novak reporters on the sideline of an international conference in Singapore that long-term oil prices should be taken into...

  • LONDON, Nov 14- European shares sank to their lowest in two weeks on Wednesday after data that showed the German and Japanese economies contracting in the third quarter fuelled worries about global growth amid a plunge in oil prices. Italy's decision to stick to its growth and deficit plans in its re-submitted draft budget set the stage for a showdown with the...

  • IEA CUTS FORECAST FOR DEMAND FOR OPEC CRUDE OIL BY 300,000 BPD TO 31.3 MLN BPD IN 2019, 1.7 MLN BPD BELOW CURRENT OUTPUT.

  • IEA RAISES NON-OPEC OIL OUTPUT GROWTH FORECAST TO 2.4 MLN BPD IN 2018 AND 1.9 MLN BPD 2019, FROM PREVIOUS ESTIMATE OF 2.2 MLN BPD AND 1.8 MLN BPD, RESPECTIVELY.

  • IEA LEAVES GLOBAL OIL DEMAND GROWTH FORECAST UNCHANGED FOR 2018 AND 2019 AT 1.3 MLN BPD AND 1.4 MLN BPD, RESPECTIVELY.

  • LONDON, Nov 14- Global oil supply will outpace demand throughout 2019, as a "relentless" rise in output is swamps growth in consumption that is at risk from a slowing economy, the International Energy Agency said on Wednesday. The agency raised its forecast for oil output growth from countries outside the Organization of the Petroleum Exporting Countries to 2.4...