Matthew Martin

Saudi Arabia Bureau Chief

Saudi debt forecast to rise sharply

The kingdom’s debt levels could reach 60% of GDP by 2030, which could push up borrowing costs and put pressure to tighten spending, one consultancy forecast.

The King Abdullah Financial District (KAFD) during late noon hours in Riyadh.

Hamad I Mohammed/Reuters

Saudi-UAE tensions hit money flows

For more than a month, money transfers between Saudi Arabia and the UAE have been delayed or cancelled without explanation as a result of the strained ties between the two countries.

UAE President Sheikh Mohamed bin Zayed meets Saudi Crown Prince Mohammed bin Salman in 2025. Abdulla Al Bedwawi/UAE Presidential Court/Handout via Reuters.

UAE developer Arada seeks funds for Gulf real estate

The firm launched a fund management arm, bringing in outside investors for the first time to help finance its real estate developments.

Prince Khaled bin Alwaleed bin Talal marks the USD 450 million listing with a bell-ringing ceremony at Nasdaq Dubai.

Anushka Eranga/NurPhoto via Reuters

Gulf sovereign funds on track for record year

Sovereign wealth funds from the region invested $53.9 billion across 108 transactions in the first half of 2026, an all time high.

US asset manager to launch Sharia-compliant credit fund

Principal looks to tap demand from Islamic investors in the Gulf and Asia for US private credit.

General view shows the King Abdullah Financial District Metro Station in Riyadh.

Hamad I Mohammed/Reuters

US advisory firm A&M looks to win rivals’ market share in Gulf

The consultancy sees Gulf revenue surging despite the headwinds of war and a spending slowdown.

Bernd von Jutrczenka/picture alliance via Getty

US investors lead $30M funding for Gulf AI startup 1001

Startup plans to bring AI efficiencies to the region’s aviation, ports, and energy infrastructure.

US nuclear firm aims to get UAE plans back on track

Nano Nuclear is also in talks to get investment from an Abu Dhabi state-linked firm to fund expansion.

UAE conglomerate overhauls Saudi retailer management

The UAE’s Al-Futtaim, which bought a nearly 50% stake in AFG International last year, said it was appointing Sameer Jain as CEO of the business.

Dubai’s MAF plans $3.1B New Cairo development

Dubai’s Majid Al Futtaim signed a deal with Egypt’s MIDAR to build around 6,000 residential units, hotels, and commercial spaces.

Abu Dhabi’s MGX secures $50B for AI investments

The announcement makes MGX one of the biggest global funds dedicated to the technology.

TCW sees Gulf funds ramping up deals

Wall Street firms need to be close to Gulf sovereign funds as “integral” parts of the global economy, TCW’s top executive said.

KKR sees security driving Gulf deals

US investment firm KKR expects the Iran war to prompt greater investment in alternative supply routes to ensure goods keep moving during conflict.

Saudi firm closes first fund since start of Iran war

Saudi Arabia’s Growth Catalyst raised $96 million to back companies in the kingdom.

Dubai developer invokes force majeure on home sales

One of the city’s biggest conglomerates delays some housing handovers, citing war-related supply chain disruptions.

Saudi’s first major wartime IPO scrapped

Mutlaq Al-Ghowairi Contracting Co said it had attracted enough demand to cover its $799 million share sale, but decided to pull the offering “after careful consideration.”

Saudi’s NEOM faces $16 billion bill to cancel contracts

Futuristic city once at the heart of Saudi Arabia’s transformation plan will spend more money to halt construction than on new building.

Saudi economy shows resilience even as war softens growth

Higher oil prices are offsetting lower export volumes, but overall growth will still likely fall to around 2% this year.