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development funds

Saudi funds move bolsters crown prince

RIYADH: Saudi Arabia Wednesday announced the consolidation of development funds under a unified body led by Crown Prince Mohammed bin Salman, cementing the powerful prince's position in the Gulf kingdom's affairs. The new National Development Fund joins industrial, agricultural and social development funds under a board headed by Prince Mohammed who is also defence minister, deputy premier and head of the kingdom's investment fund. The National Development Fund will also "undertake the overall supervision" of "any…