Saudi Arabia’s Public Investment Fund announced on Thursday that it had acquired 2.04 percent of India’s Reliance Retail Ventures Limited for total investment of $1.3 billion. The move is in line with PIF’s strategy as a leading global investor with a proven track record of investing in innovative and transformative companies globally.

In other news, Saudi Arabia’s Traffic Directorate stated that it would start soon automatic surveillance of the violations of changing lanes without signaling. The new traffic rule will be implemented in the major cities after seven days.

To read about this and more of the week’s news from the Kingdom, click here.

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