AP/Hasan Jamali Saudi Arabia’s Public Investment Fund emerged on Sunday as the anchor investor in Noon, a soon-to-launch online retailer that aims to replicate from a Middle Eastern base the success of e-commerce giants Alibaba Group Holding and Amazon.com. The PIF will contribute $500 million to the venture, with another $500 million coming from other investors in the region. With oil prices down more than 50 percent since mid-2014, Saudi Arabia, in efforts led by brash young Deputy Crown Pri...
AP/Hasan Jamali Saudi Arabia’s Public Investment Fund emerged on Sunday as the anchor investor in Noon, a soon-to-launch online retailer that aims to replicate from a Middle Eastern base the success of e-commerce giants Alibaba Group Holding and Amazon.com. The PIF will contribute $500 million to the venture, with another $500 million coming from other investors in the region. With oil prices down more than 50 percent since mid-2014, Saudi Arabia, in efforts led by brash young Deputy Crown Pri...
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