Foreign Exchange News

By Robin Paxton MOSCOW (Reuters) - Peter Hambro Mining posted a 13 percent drop in 2005 retained profit on Monday as high fuel costs made it more expensive to mine gold in Russia and the company repaired equipment that will quadruple output by 2009. However, the drop was less than analysts and the company had forecast and shares in the group rose more than 2 percent to 15.20 British pounds. Ope ...

WASHINGTON (Dow Jones) - A top Chinese official said Saturday the dollar represents a greater risk to the global economy than the yuan does. Rather than monitoring the yuan, global financial institutions should watch the U.S. dollar, said Zhou Xiaochuan, the governor of the Peoples' Bank of China. Later in an interview, Zhou said the yuan could rise at a faster pace, but that's not the Chine ...

WASHINGTON (Dow Jones) -- The poorest nations have made progress in eliminating poverty, but the pace must be picked up, international economic leaders said Sunday. "We see signs of progress toward achieving the goals" established five years ago of cutting the global poverty rate in half by 2015, said Rodrigo de Ratio, managing director of the International Monetary Fund. "We know we need to st ...

By Lesley Wroughton WASHINGTON (Reuters) - Weekend meetings of the 184 member countries of the International Monetary Fund and World Bank set about redirecting the missions of the global institutions to make them more effective and representative of changing economic forces. The biggest step-change will be in the way the IMF polices the global economy through broader multilateral consultations t ...