25.04.2016 - Saudi prince bets on $2 trillion wealth fund
An ambitious 31-year-old Saudi royal will set bankers’ hearts aflutter tomorrow by unveiling what is billed as the biggest economic reform programme in the kingdom’s 84-year history. Prince Mohammed bin Salman’s grand plan is expected to include the creation of a $2 trillion (£1.4 trillion) sovereign wealth fund and a partial float of the world’s biggest oil company, Saudi Aramco. The presentation in Riyadh will be a pivotal moment for MBS, as he is known. The fiercely determined son of King Salman — now 80 and in fragile health — is second in line to the throne. His attempt to shake up the kingdom can be interpreted in two ways...............................................Full Article: Source
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