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PIF

Saudi wealth fund bets big to remake oil-based economy

RIYADH: With the stock market listing of its national oil company stalled, Saudi Arabia is scrambling to boost the coffers of the sovereign wealth fund spearheading a risky plan to diversify its economy. The Public Investment Fund had sought to raise billions of dollars through the initial public offering of Saudi Aramco -- dubbed as potentially the world's biggest stock sale -- to finance the kingdom's transformation from a petro-state to a tech-focused economy. But with the flotation indefinitely postponed, the PIF…