Visa says the data provides ‘further evidence that an increase in the cost of living, coupled with slowing wage growth, are beginning to squeeze household disposable income’.Consumer spending has fallen to its lowest levels in nearly four years as rising living costs and stagnant wages continue to squeeze household incomes, new figures show.Source: Independent
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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