State oil giant Saudi Aramco plans to sell 49 per cent of its shares over the next 10 years, Saudi newspaper al-Eqtisadiah reported on Saturday, quoting an unnamed senior source. The company is targeting 2018 for what is expected to be the world’s biggest initial public offering. Source: Gulf Business News
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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 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
“The current account deficit recorded $5.24 billion, indicating an increase of $2.13 billion compared to May of the previous year, bringing the 12-month rolling deficit to $35.3 billion,” the Turkish Central Bank said. Source: Daily News