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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

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    • 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.

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    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS, OCBC and UOB shares hit all-time highs as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore ranks as the world’s most expensive city for cars and placed third globally for residential property.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

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