Deutsche Bank AG warned it will take a €5.8 billion ($6.5 billion) charge on assets in its investment bank and retail- and private-banking operations for the third quarter and said it could cut its dividend this year. Source: WSJ
Sanctions are forcing Russia to find alternative settlement currencies to the US dollar to ensure the security of the country’s economy, according to President Vladimir Putin.“We are moving to the de-dollarization of the economy. We are doing so not because we want to undermine the dollar, but because we want to ensure our security. We are constantly facing sanctions, they do not give us the opportunity to work in dollars,” Putin said on Thursday at the Valdai Discussion Club meeting in Sochi. Source RT
Saudi Arabia and Kuwait will struggle to resume oil production from jointly operated fields any time soon due to operational differences and souring political ties between the previously close Gulf OPEC allies, sources familiar with the matter said. Source: Al Jazeera
Leaders from Russia, Turkey, Germany and France will meet in Istanbul next week in an effort to shore up a truce preventing further violence in Syria’s last rebel-held region and bolster the political process toward ending the seven-year civil war. Source: Bloomberg
