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Saudi Arabia Builds Start-Up Culture With State Oil Money

Abdulaziz al-Jouf is in many ways a typical Web entrepreneur - the 34-year-old Saudi talks fast, works late and has big plans for his online payments system. But in one aspect he's unusual: Jouf is funded by state oil company Saudi Aramco, better known for multi-billion-dollar investments in oilfields and pipelines. Their partnership is the result of a push by Saudi Arabia to create jobs and diversify its economy beyond the oil industry - increasingly important as its population...

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