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Analysis: Saudi Arabia eyes Dubai's crown with HQ ultimatum


6 Min Read
DUBAI (Reuters) - Saudi Arabia has raised the stakes in a competition with freewheeling Dubai for foreign talent and cash.
FILE PHOTO: A Saudi man walks past a logo of the Future Investment Initiative ahead of the opening ceremony of the fourth annual conference in Riyadh, Saudi Arabia January 27, 2021. REUTERS/Ahmed Yosri/File Photo
From 2024, the Saudi government will stop giving state contracts to companies and commercial institutions that base their Middle East hubs in any other country in the region, the Saudi finance minister told Reuters.
The measure is the latest attempt by the kingdom, a religiously conservative nation that is the birthplace of Islam, to remould itself as a financial and tourism hub under the leadership of de facto ruler Crown Prince Mohammed bin Salman. ....

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