Matthew Martin
Coverage of Matthew Martin in the Nexus archive.
- Blackstone, KKR invest in Kuwait pipelines
Kuwait agreed to a $16 billion deal with Blackstone, Brookfield, and KKR, granting the investors a 49% stake in a joint venture with Kuwait Oil Company for a 20.5-year lease on the country's oil pipeline network. The investment is the largest foreign deal in Kuwait’s history and aligns with Gulf strategies to attract capital, with Blackstone also opening an office in Kuwait.
- Saudi economy shows resilience even as war softens growth
Saudi Arabia's economy shows resilience amid the Iran war, with higher oil prices offsetting lower export volumes. The IMF projects growth to fall to 2% this year, while a rebound in the Purchasing Managers Index to 52.8 indicates economic expansion, though exports remain weak.
- Saudi Arabia, UAE trim US debt holdings by nearly $17 billion
Saudi Arabia and the UAE reduced their US Treasury holdings by nearly $17 billion in March due to declining crude export revenues from the Iran conflict. Despite this March reduction, both countries maintain historically high levels of US debt holdings, with the UAE's holdings up 63% over two years and Saudi Arabia's up over 10%.