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Semafor World Economy

Matthew Martin

Matthew Martin

Saudi Arabia Bureau Chief

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Sign up for Semafor Gulf: Navigating the region’s capital, influence, and power.

Saudi’s $100 billion electronics fund removes head, drops chip ambitions

Public Investment Fund executive takes over to refocus Alat’s efforts on data centers.
Amit Midha.Amit Midha. Courtesy of Future Investment Initiative

Gulf stocks surge and oil falls after ceasefire deal

Dubai’s benchmark index rose more than 6% as real estate stocks rebounded and Abu Dhabi’s was up around 3% on Wednesday.
Abu Dhabi skyline.Staff/Reuters

Riyadh evacuates main business hub over Iran threat

Businesses have been told not to send employees into work at King Abdullah Financial Center.
Traffic moves on a road, with the city’s skyline visible in the background, in Riyadh.Isabel Infantes/Reuters

US tech company eyes Saudi’s lithium resources

The kingdom has lithium and vanadium in its oil-field brine, which Pure Lithium wants to use to produce rechargeable batteries.
An automated lithium-ion battery production line.An automated lithium-ion battery production line. China Daily via Reuters.

Wall Street bosses stick by the Gulf despite war

Foreign firms know that Gulf leaders have long memories and will reward those who stand by them.
Wall Street.Carlo Allegri/File Photo

Benefit Street Partners looks for Gulf private credit deals

Undeterred by the Iran war, Franklin Templeton’s credit arm looks to expand in the Gulf.
David Manlowe. Courtesy of the Future Investment Initiative.

General Atlantic says ‘biggest mistake’ would be pulling back on Gulf deals

US private equity investor will remain committed to Gulf even as war rages with Iran.

Saudi’s Miami confab showed its future is tied to the US

No one learned anything new at a glitzy event in Miami, but US-Saudi ties were reinforced.

Miami draws Wall Street crowd still eager to do Gulf business

Saudi’s US investment conference shows Gulf cash still attracts western finance, even if execs are holding off going back to the region.

Saudi, US investors meet in Miami as war rages on

Iran’s attacks on Gulf countries are serious and disrupting, but this makes it even more important to meet, said Richard Attias, CEO of the FII Institute.

‘Zombie tankers’ sail in the Strait of Hormuz

At least two tankers have passed through the strait while impersonating ships scrapped long ago, as Iran continues to exert a tight hold on traffic through the waterway.

Saudi promotes Trump ties in Miami, even as war rages

Trump’s scheduled attendance at a Saudi investment conference in Miami this week could solidify the Gulf country’s ties to the US administration, despite a war Riyadh didn’t want.

Saudi Arabia opens land and sea trade routes to UAE

The need to cooperate on logistics is helping to reset Riyadh’s fractured relations with the UAE.

Saudi Arabia ramps up anti-corruption drive

Efforts to root out corruption under Mohammed bin Salman, once written off as a power grab, have picked up.

Restoring confidence to the Gulf will be costly

Gulf economies will need to spend to get their economic diversification plans back on track once the war ends.

Gulf economies projected to contract because of war

In a prolonged conflict, with the Strait of Hormuz blocked until the end of April, the worst-hit economies, Qatar and Kuwait, would contract by 14%.

US and Saudi firms team up for Africa minerals deals

Cove Capital and Saudi family conglomerate aim to raise multi billion dollar fund to acquire African mining operations.

UAE banks move data abroad following Iran strikes

UAE banks suffered service outages after an Amazon data center in the country was hit by drones.
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