Some 69 percent of Europeans put their savings into bank accounts, according to Intrum Justitia’s European Consumer Payment Report. The survey also shows that 26 percent of Europeans prefer keeping their surplus funds in cash, while 16 percent hold stocks. Source: Bloomberg
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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