Saudi Arabia on cusp of severing ties with LIV Golf: Report

Saudi Arabia’s Public Investment Fund (PIF) is on the verge of cutting its backing for LIV Golf, a potential loss on its $5 billion investment. The move is reportedly driven by the need to tighten spending amid a US-Israeli war on Iran and delays in domestic megaprojects. According to the PIF governor, the war is adding pressure to "reposition some priorities," making it harder for Gulf states to present themselves as safe business hubs. This strategic shift also includes scaling back ambitious projects like The Line and focusing more of the sovereign wealth fund's capital on local investments rather than international ventures.