Saudi king boosts social fund

SAUDI ARABIA’S king has ordered billions poured into a development fund that helps people buy homes, get married and start businesses, in the wake of the unrest spreading in the Middle East.

The measure was one of several announced by the monarch, who returned home yesterday after a three-month absence during which he underwent medical treatment in the United States.

King Abdullah ordered that 40 billion riyals, or about €7.8bn, be injected into the country’s development fund which nearly doubles the original budget.