SAUDI ARABIA

Saudi Arabia’s Public Investment Fund (PIF) has been given the green light to establish companies to invest inside and outside the kingdom, Finance Minister Ibrahim al-‘Assaf says. Granting PIF’s board the right to set up such companies without cabinet approval will help to implement new investment initiatives more effectively and, create job opportunities and help diversify the economy, he says.

PIF Secretary General ‘Abd al-Rahman al-Mufdhi says the...