Riyadh – Mubasher: The Saudi Public Investment Fund (PIF) on Tuesday will announce new economic initiatives, and it launched $50 million fund, PIF's managing director, Yasir Al-Rumayyan said.

Saudi Arabia plans to expand in diversifying investments, implement Saudization in technologies, returns of investments, and establishing new sectors, Al-Rumayyan added.

Regarding the planned initial public offering (IPO) of a stake in the Saudi Arabian Oil Co, known globally as Saudi Aramco, Al-Rumayyan stated that it will occur in 2018.