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Saudi Arabia is planning to create $2 trillion sovereign wealth fund

Posted on 04 April 2016

Saudi Arabia is planning to create a $2 trillion sovereign wealth fund to reduce the country’s reliance on oil and fundamentally change its economy, according to Bloomberg.
In an interview with Bloomberg Saudi Deputy Crown Prince Mohammed Bin Salman said the fund, which would be the biggest in the world — easily eclipsing the funds of both Norway and Qatar — is designed to help the country’s economy rely less on oil. As part of fund’s creation, the kingdom will go ahead with an initial public offering of its state-run oil firm Aramco, selling no more than 5% of the company………………………………………..Full Article: Source


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