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Intelligence for the New World Economy

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Intelligence for the New World Economy
Matthew Martin

Matthew Martin

Saudi Arabia Bureau Chief

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China overtakes the West in trade with the Gulf

Trade between the Gulf and China reached $257 billion last year, just ahead of the region’s $256 billion trade with the Eurozone, UK, and US combined.
A jack-up drilling rig, used by Kuwait Oil Company (KOC) in its offshore exploration operations stands in Kuwaiti territorial waters.Kuwait Oil Company/Handout via Reuters

Qatar earmarks $1B for Japan buyouts

Qatar’s sovereign wealth fund launched a $2.5 billion Japan-focused private equity fund with ORIX, a Japanese financial services firm.
QIA’s Mohammed Al-Sowaidi and ORIX’s Makoto InoueQIA’s Mohammed Al-Sowaidi and ORIX’s Makoto Inoue. Courtesy of QIA.

Goldman Sachs scores record $110M fee on EA sale

The US bank was the sole adviser to EA when it was bought by a consortium that included Saudi Arabia’s Public Investment Fund.
Goldman Sachs CEO David Solomon. Courtesy of FII.

Saudi earmarks $15B to triple phosphate production

The kingdom aims to become one of the world’s top three phosphate producers.
Saudi’s Vice Minister for Industry and Mineral Resources Khalid Al Mudaifer. Courtesy of FII.

Bahrain revamps investment rules to attract super-rich

The country looks to pitch itself as a global wealth management hub and attract the type of super-rich residents that have flocked to the neighboring UAE.
The skyline in Manama.Hamad I Mohammed/Reuters

Saudi’s AI ambitions may run through Syria

The proposed SilkLink project would add an alternative route to Europe as Saudi builds an artificial intelligence hub.
A map of undersea cables.Courtesy of TeleGeography. Licensed under CC BY-SA 4.0.

Saudi Arabia’s state oil company reports surprise $28B profit

The results are vital for Riyadh’s multi-trillion-dollar plan to diversify the country’s economy away from oil.

Saudi carbon market projected to double trading volumes

The CEO of carbon trading platform Saudi Arabia’s Voluntary Carbon Market Co. expects 20 million credits will be traded next year.

Bahrain’s Alba eyes global deals

The aluminum producer is looking for international investments to secure its supply chains.

Saudi Arabia’s health push goes high-tech

About $33 billion in deals are expected to be announced at Riyadh’s Global Health Exhibition this week.

Saudi set for 130 million tourists in 2025

The country’s tourism industry is on track to meet 2030 goals of attracting 150 million visitors including domestic travelers.

HP plans to build millions of computers in Saudi

The computer manufacturer has made Riyadh a hub, a win for the kingdom’s strategy to boost non-oil exports.

Dimon to mark 90 years of JPMorgan in Saudi with Riyadh party

World’s biggest bank to celebrate its legacy in the kingdom with top Saudi officials and executives.

Events firm behind Saudi’s flagship conference to IPO next year

Richard Attias says the company behind the Future Investment Initiative will ‘definitely’ sell shares in 2026.

Saudi Arabia’s MBS to meet with Trump

The kingdom’s de facto ruler will visit the White House in November for the first time since 2018.

Saudi Arabia plans giant Mecca development

The King Salman Gate in Mecca will include prayer areas, residential units, hotels, and shops adjacent to the Grand Mosque.

Sovereign funds join $11 billion Aramco gas deal

Abu Dhabi, Singaporean, and South Korean funds join the BlackRock-led consortium investing in Aramco’s new gas infrastructure.

Saudi consumer spending fuels coffee shop IPO rush

Saudi coffee shop chains and a health care products distributor plan to list in the next 12-18 months.