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(MENAFN - AFP) Ending months of deadlock, the World Trade Organization agreed Thursday to implement the first global trade reform agreement in its 19-year-history.

The deal means the 160-member global trade body can begin putting into action a landmark deal reached in Bali late last year to overhaul global customs procedures.

Economists have estimated the measures could ...

(MENAFN - AFP) Joaquim Levy, Brazil's new finance minister, is an economist and banking executive widely seen as pro-market, hawkish and orthodox, earning him the nickname "Scissorhands" for his steely budgetary management.

That is just the profile that leftist President Dilma Rousseff needs as she seeks to address her deep unpopularity in the business sector and return the ...

(MENAFN - AFP) Brazilian President Dilma Rousseff named pro-market bank executive Joaquim Levy to be her new finance minister Thursday as her government looks to steer the economy out of recession.

Levy, a University of Chicago-trained economist, is a popular choice in the financial world, where Rousseff's management of the world's seventh-largest economy has been widely ...

(MENAFN - AFP) The ruble slumped to historic inter-day lows Thursday against both the dollar and euro in the wake of the OPEC oil cartel's decision to leave its collective output ceiling unchanged.

The Russian currency shed 3.6 percent and briefly traded at the 48.66 mark against the dollar about two hours after OPEC made announcement following a day-long meeting in Vienna.

The ...

(MENAFN - AFP) The European Parliament voted overwhelmingly for the break-up of Google on Thursday in a largely symbolic vote that nevertheless cast another blow in the four-year standoff between Brussels and the US Internet giant.

In a direct challenge to Google, MEPs assembled in Strasbourg approved a resolution calling on the EU to consider ordering search engines to separate ...

(MENAFN - AFP) The 160 members of the World Trade Organization agreed Thursday in Geneva to implement a landmark global trade agreement reached in Bali last December, a spokesman said.

The deal to implement the first global trade reform pact in the WTO's 19-year history was finally reached Thursday after negotiations were delayed for 24 hours.

"We've made it!" WTO Director-General ...

(MENAFN - AFP) OPEC on Thursday decided against cutting the amount of oil it produces despite a glut in global supplies, triggering a five-dollar collapse in crude prices.

The cartel pumping out one-third of the world's oil opted to stick by its output target, even after prices have plunged by 35 percent in value since June.

The 12-nation cartel "decided to maintain ...

(MENAFN - AFP) Russia's ruble lost more than two percent against the dollar in response to the OPEC oil cartel's decision to leave its collective output ceiling unchanged.

The Russian currency was trading around 48 rubles to the greenback at 1550 GMT -- nearly 2.5 percent lower that the level at which it stood before the announcement in Vienna about 90 minutes earlier.

The ...

(MENAFN - AFP) Oil prices sank to fresh four-year lows on Thursday, with New York crude tumbling below $70 after the OPEC oil cartel held its collective output ceiling.

At about 1610 GMT, West Texas Intermediate for January delivery struck $69.11 per barrel -- last seen on May 25, 2010. Brent North Sea crude for January hit $72.74, a level last witnessed on July 7, 2010. ...

(MENAFN - AFP) Thousands of Greeks demonstrated against a new bout of austerity on Thursday in a general strike as the government failed to break a deadlock with the country's international creditors.

Some 18,000 people demonstrated in Athens and another 6,000 in Thessaloniki, according to police. Protests also took place in other big cities.

The strike affected air ...

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