"The Saudi sovereign wealth fund's exit from LIV Golf, after pouring more than $5 billion into the PGA competitor since 2022, is the first major casualty of the kingdom rationing cash as oil exports sink."
"The UAE's break from the Saudi-led oil cartel is the latest fracture in a regional rivalry driven by clashing alliances and views on Yemen, Sudan and Palestine, as well as personal animosity between the two leaders."
"Gulf leaders have spent a generation perfecting the Dubai model - selling stability as a luxury good to foreign tourists, expats and investors. Iran's attacks on luxury hotels and airports have undercut that premise."
Investment pledges from Trump's trip are uncertain due to geopolitical tensions and economic challenges in the Gulf. The Saudi sovereign wealth fund's exit from LIV Golf signifies financial strain as oil exports decline. The UAE's decision to leave OPEC reflects a shift in oil strategy and regional rivalries. Tensions between Saudi Arabia and the UAE have escalated, driven by differing views on regional conflicts and personal animosities. The situation complicates the Gulf's role in global investment and stability.
Read at Axios
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