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GLOBAL MARKETS-Europe steadies before Greece summit, China stocks fall again

*Europe shares recover as Greece summit awaited. Failure to reach a deal would increase the likelihood of Greece leaving the single currency. "The rest of Europe is ring fenced from what's going on in Greece.
Source: Reuters
Saudi Arabia to invest $10B in Russia

Saudi Arabia's sovereign wealth fund is to invest up to $10 billion in Russia over the next five years, in a move signalling a thawing in relations between the two countries. Saudi Arabia's Public Investment Fund, the country's sovereign wealth investment vehicle, agreed on Monday to invest $10 billion over the next five years approximately in the Russia...
Source: CNBC.com | By: Holly Ellyatt
UPDATE 3-Noble Group hires PwC to review accounting practices after criticism

*Singapore Exchange says welcomes company's decision. SINGAPORE, July 7- Noble Group Ltd, Asia's biggest commodities trader, said it has hired PricewaterhouseCoopers to review the way it values some of its assets- its biggest move yet to boost transparency after an attack on its accounting practices. Allegations by little known Iceberg Research in February...
Source: Reuters | By: Aradhana Aravindan and Anshuman Daga
Europe opens higher as pressure mounts on Greece

European equities opened slightly higher on Tuesday as pressure mounts on Greece to come up with a viable debt plan.
Source: CNBC.com
Mainland shares lead losses in Asia's mixed session

Mainland shares led losses in a mixed trading session in Asia on Tuesday, with investors doubtful of how effective Beijing's slew of market rescue measures will be.
Source: CNBC.com | By: See Kit Tang
Like Greece, Italy needs to leave euro: Grillo

Greece will have to "confront an exit from the euro," Beppe Grillo told CNBC -- and Italy should follow suit.
Source: CNBC.com | By: Holly Ellyatt
UPDATE 2-Noble Group hires PwC for new audit after attack on accounting practices

SINGAPORE, July 7- Noble Group Ltd, Asia's biggest commodities trader, said it has hired PricewaterhouseCoopers to review the way it values some of its assets- its biggest move yet to boost transparency after an attack on its accounting practices. Allegations by little known Iceberg Research in February that Noble was inflating its assets by billions of...
Source: Reuters | By: Aradhana Aravindan and Anshuman Daga
OECD's Gurria warns 'Europe is at stake'

We need to look ahead at the implications of the weekend's referendum and the resignation of fiery finance minister Yanis Varoufakis.
Source: CNBC.com | By: Louisa Bojesen
RBA holds rates at 2%, says Aussie still too strong

Australia's central bank held interest rates at record lows on Tuesday as sliding commodity prices, a still-high currency and mounting economic uncertainty in China argue for continued stimulus, and even the chance of more cuts.
Source: Reuters
Wild ride in markets hits Beijing's credibility

Beijing's failure to stabilize the country's chaotic stock markets is undermining its credibility on the international stage, commentators say.
Source: CNBC.com | By: Nyshka Chandran