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The FT is seeking a business correspondent in the Gulf, a region increasingly at the centre of global finance, deal making, and shifting geopolitics. This is a 12-month fixed term contract covering a period of parental leave.
With the Gulf’s two powerhouses – the United Arab Emirates and Saudi Arabia – led by assertive, ambitious leaders, the oil-rich states are ploughing tens of billions of petrodollars into myriad sectors, from technology, AI, renewable energy, media and sport. They are also bent on projecting their diplomatic heft as the war in Gaza and hostilities between Israel and Iran shift the dynamics of the region.
The position is based in the UAE, which has for decades been the Middle East’s dominant trade, financial and tourism hub and is host to all the major banks and multinationals operating in the region. An entrepot between east and west, it has also become a centre for Russians seeking to avoid sanctions and establish businesses outside of Russia.
The UAE is home to some of the world’s largest and most active sovereign wealth funds, with more than $1.7trn assets under management, and it is a magnet for international financiers. Saudi Arabia is also spending hundreds of billions pursuing its own domestic development plans, driven by the Public Investment Fund, its $925bn SWF.
Qatar’s sovereign fund, the QIA, is also building up its resources as it prepares for a massive petrodollar-fuelled windfall.
The successful candidate would be expected to cooperate with our Saudi Arabia correspondent and would work closely with a range of desks, particularly markets, companies and world, with a focus on following the money.
Reporting from within the UAE has its challenges. The successful candidate would need to be able to develop contacts across the financial and political spheres, have the ability to build trust with those wary of speaking to journalists and be adept at switching between reporting on the latest investment to the latest palace intrigue.
It is a hugely rewarding job that is core to the FT’s foreign and financial coverage.