Saudi Arabia's economy is transforming. What's behind it? The Public Investment Fund, or PIF.

It's one of the largest sovereign wealth funds in the world, creating 13 new sectors,

66 companies, and more than 500,000 direct and indirect jobs so far. PIF is also the first

sovereign wealth fund to issue a green bond supporting Saudi Arabia's 2016 Net Zero emissions target.

Find out more at pif.gov.sa.

Hello and welcome to the Intelligence from the Economist. I'm your host Jason Palmer.

Every weekday we provide a fresh perspective on the events shaping your world.

In Bangladesh, too many young women are trafficked, ending up condemned to lives of

indentured servitude in the country's sprawling brothels. Our correspondent meets a remarkable

woman who first came to one at age 12 and ended up in charge of it. And in the track and field events

at the Tokyo Olympics, world records have not just been broken, they've been smashed.

That may well be partly down to the high-tech shoes some competitors are wearing.

We ask how they work and whether it's fair.

But first...

Iran's new president, Abraham Reisi, was sworn in yesterday after winning a rigged election in June.

The conservative cleric was hand picked by the country's supreme leader, Ayatollah Ali Khamenei,

who's increasingly been consolidating power in the hands of hardliners.

The ceremony, Mr. Reisi spoke of countries protecting their interests of balanced foreign policy.

The handover of power comes after two assaults on international shipping in the past week,

widely suspected to be the work of the Islamic Revolutionary Guard Corps, Iran's military force

often implicated in the region's proxy battles. All this puts pressure on efforts to constrain Iran's

nuclear ambitions, which have steadily expanded as talks to revive the Morabund nuclear deal have

...