Turkish President Recep Tayyip Erdogan Saturday again urged Turkish citizens to convert their foreign exchange savings into liras or gold. “Come now and convert your dollars and euros into Turkish liras,” Erdogan said during the opening ceremony of a new shopping mall in Istanbul. Source Erdogan
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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 military standoff between China and India along their border should be resolved by September before the BRICS summit in Xiamen, Chinese experts said, but how the standoff is resolved depends on India. “The ongoing border tension is testing China’s patience, and if the border tension remains until September, it would be very embarrassing for Indian leaders to come to China to attend the BRICS summit. Source Global Times
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