Inflation is rising in the eurozone. Despite the efforts of the ECB, which have included negative interest rates and an asset purchase program of more than €1.2 trillion, the rise in inflation is being driven by the oil price. Energy prices are still proving a drag on inflation—excluding energy, the inflation rate was 0.8% in September Source The Wall Street Journal
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Saudi Arabia’s National Water Co. is seeking financial advisers to arrange the sale of parts of the country’s water distribution network, according to people familiar with the matter. Source Gulf News
The ‘Joint Sea 2017’ drills of the Russian and Chinese naval forces have begun the first stage of major exercises, marking the first time they have taken place in Europe. Source RT
The International Monetary Fund late on July 20 approved a one-year, $1.8 billion loan program for Greece but will not release any funds until the eurozone agrees on a debt relief plan, in a highly unusual compromise step. Source: Daily News