Vestia, Dutch housing corporation is claiming hundreds of millions of euros at Deutsche Bank. According to Vestia the German bank had an important share in the derivatives debacle that inflicted 2.5 billion euros damage on Vestia and the rest of the Dutch housing association sector. The damage by Deutsche Bank is being estimated at over 800 million. Source De Volkskrant
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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