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Economy

Saudi Arabia tries to lure foreign companies away from UAE

Top oil exporter licenses 44 global firms in bid to become regional business hub

Investors mingle at Future Initiative Investment Summit Riyadh in Saudi Arabia on Wednesday. (Photo by Nesreen Bakheit)

RIYADH -- Saudi Arabia has given licenses to 44 international entities to set up regional headquarters in the capital Riyadh, as the kingdom seeks to project an image of change to lure foreign capital and talent from places such as the United Arab Emirates.

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