This year, there was widespread coverage of the war in Iran. In private, however, more than a dozen Wall Street bankers and private equity industry executives revealed a different kind of concern — one that has hardly been publicly discussed but could disrupt global investment flows. As the two largest economies in the Gulf region and one of the world's deepest capitals, the differences between Saudi Arabia and the UAE continue to widen, and have even prompted financial executives to formulate emergency plans to prevent the situation from deteriorating significantly. From banks such as Goldman Sachs Group and Morgan Stanley, to investment institutions such as BlackRock, Brookfield Corp., and KKR & Co., they all believe that the direction of the relationship between the two countries is particularly critical. Like some other financial giants, these companies have expanded in these two major markets over the years to get close to funds that collectively control more than $3 trillion in sovereign wealth. This move reflects the region's growing influence at a time when governments are investing heavily in fields such as artificial intelligence, infrastructure, and finance.

This year, there was widespread coverage of the war in Iran. In private, however, more than a dozen Wall Street bankers and private equity industry executives revealed a different kind of concern — one that has hardly been publicly discussed but could disrupt global investment flows. As the two largest economies in the Gulf region and one of the world's deepest capitals, the differences between Saudi Arabia and the UAE continue to widen, and have even prompted financial executives to formulate emergency plans to prevent the situation from deteriorating significantly. From banks such as Goldman Sachs Group and Morgan Stanley, to investment institutions such as BlackRock, Brookfield Corp., and KKR & Co., they all believe that the direction of the relationship between the two countries is particularly critical. Like some other financial giants, these companies have expanded in these two major markets over the years to get close to funds that collectively control more than $3 trillion in sovereign wealth. This move reflects the region's growing influence at a time when governments are investing heavily in fields such as artificial intelligence, infrastructure, and finance.