The Business Times
business-time-50
SUBSCRIBERS

The Saudi golf doubts are hinting at more to come

The war’s economic impact, with reinvestment needs in defence and infrastructure, refocuses attention on domestic demands

Summarise
google-preferred-sourceAdd BT as a preferred source
阅读简体中文版 (beta)
    • From international real estate to US technology, Middle East funds have used their gushers of cash to boost soft power and diversify their economies away from oil.
    • From international real estate to US technology, Middle East funds have used their gushers of cash to boost soft power and diversify their economies away from oil. PHOTO: REUTERS

    Lionel Laurent

    Published Wed, Apr 22, 2026 · 05:46 PM

    LAST week, the golfing world got a billion-dollar shock when it emerged that Saudi Arabia’s Public Investment Fund (PIF) might be thinking about cutting its losses in LIV, the upstart PGA Tour challenger.

    It was not the only locally backed sport to face a new reality in a Middle East dealing with the effects of the US-Israeli war with Iran.

    PIF is also selling a majority stake in Riyadh’s Al Hilal Football Club to billionaire Prince Alwaleed Talal, while the kingdom is reportedly no longer planning to host the 2035 Rugby World Cup.

    GolfStrait of Hormuz

    TRENDING NOW

    Assets under management of physical gold holdings in DBS wealth clients’ portfolios more than doubled over the past three years.

    DBS to launch tokenised physical gold for retail customers in Singapore

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    CICT sees “good potential” in Paragon and is taking a longer-term view of the acquisition, says the chairperson of the manager.

    CICT’s S$3.9 billion Paragon buy draws scrutiny over timing, funding at EGM

    Evergrande’s liquidators have claimed “negligence” and “misrepresentation” in the auditing work done by PwC’s mainland and Hong Kong affiliates.

    Evergrande’s liquidation prompts some PwC partners to shield assets, contemplate divorce

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More