Saudi prince unveils sweeping plans to end 'addiction' to oil | Reuters:
"The powerful young prince overseeing Saudi Arabia's economy unveiled ambitious plans on Monday aimed at ending the kingdom's "addiction" to oil and transforming it into a global investment power.
Deputy Crown Prince Mohammed bin Salman said the world's top oil exporter expects state oil company Saudi Aramco [SDABO.UL] to be valued at more than $2 trillion ahead of the sale of less than 5 percent of it through an initial public offering (IPO).
He added that the kingdom would raise the capital of its public investment fund to 7 trillion riyals ($2 trillion) from 600 billion riyals ($160 billion)."
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