Huge investments by Saudi Arabia’s sovereign wealth fund the Public Investment Fund (PIF) – chaired by Prime Minister and Crown Prince Mohammed Bin Salman (MBS) – and its subsidiaries and affiliates are continuing to define wider Saudi strategy. Recent big deals include Saudi National Bank (SNB)’s move to buy nearly 10% of Credit Suisse, a big potential bank takeover in Egypt and efforts to boost tourism-focused investment in marginalised areas of the kingdom.
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