Saudi Arabia needs to bring in foreign capital to continue spending.
Photographer: Jeremy Suyker/BloombergThe Big Take
Saudi Arabia's Hurdles at Home Are Reshaping the Mideast Financial Order
Bankers and business leaders are shifting more attention toward the kingdom’s neighbors in the Gulf as it grapples with lower oil prices and weakening finances.
As leaders from Abu Dhabi, Doha and Riyadh competed to pledge trillions of dollars for US investments during President Donald Trump’s recent visit to the Middle East, bankers behind the scenes quietly agreed: Saudi Arabia isn’t the draw it once was.
Especially when compared with the heft of the United Arab Emirates and the rising ambitions of Qatar, the constraints facing Saudi Arabia are increasingly biting and prompting a rethink among businesses seeking funds or wanting to do deals.