Semafor names Matthew Martin Saudi bureau chief and SWF editor
Semafor has named veteran journalist Matthew Martin as its new Saudi Arabia bureau chief and global head of sovereign wealth fund (SWF) coverage, reinforcing its editorial presence in the Gulf region. The appointment is part of a broader expansion of Semafor Gulf, which launched in September 2024 as the platform's third regional edition alongside its US and Africa operations, according to a report by Arab News.
Martin, who brings over 20 years of journalistic experience, will lead Semafor's growing editorial team in Riyadh and report directly to Mohammed Sergie, editor of Semafor Gulf. He joins the company from Bloomberg, where he most recently served as chief correspondent for SWFs across the Middle East and North Africa. During his tenure, Martin closely covered the influence of sovereign wealth funds in economic diversification, international investment strategies, and soft power projection. Prior to that, he held the position of Bloomberg's Saudi Arabia bureau chief, overseeing coverage of Saudi Arabia, Bahrain and Yemen.
Martin has been based in Riyadh since 2021, where his reporting focused extensively on the Kingdom's economic transformation, including key entities like Aramco and the Public Investment Fund. Semafor co-founder and editor-in-chief Ben Smith described Martin as 'the definitive reporter on one of the world's biggest stories, Saudi Arabia's transformation of itself and much of the world around it.'
Justin Smith, Semafor's co-founder and CEO, called Martin's appointment a major step toward the company's goal of becoming a leading global media voice in the Gulf. He emphasised that Semafor's coverage will not only spotlight regional developments but also explore how the Gulf's rise connects to centres of global influence such as Washington DC, Wall Street, Silicon Valley and emerging ties with the African continent through Semafor Africa.
Looking ahead, Semafor aims to deepen its coverage of the Gulf's growing relationships with Asia and Europe, as its editorial strategy continues to map the region's expanding corridors of geopolitical and economic influence.
Since launching Semafor Gulf, the platform has covered key regional stories including the UAE's pledge to invest $1.4tn in the US, the evolving role of foreign consultants in Saudi Arabia, developments in OPEC+ strategy, and Gulf-Israel diplomatic dynamics. Martin's appointment signals a continued investment in high-impact journalism focused on one of the world's most rapidly transforming regions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
39 minutes ago
- Arabian Business
Etihad celebrates growth after transporting 20m passengers in one year
Etihad continues to soar with a record-breaking year, reaching new milestones for the first time in the airline's history. Antonoaldo Neves, CEO at Etihad Airways, said: 'The last 12 months have seen Etihad flying high, breaking records and achieving new milestones at an astonishing rate. 'Following a record Q1, with AED685m ($187m) profit and our highest ever customer satisfaction scores, Etihad has now welcomed more than 20m guests in the last year, for the first time in the airline's history. 'We continue our upward trajectory as part of a broader growth story that has seen our annual passenger numbers more than double from 10m to 20m in just two and a half years. 'This sustained growth is driven by expanding demand, a dynamic global network, and a clear strategic focus. We are the only airline in the region growing at this pace and we have no intention of slowing down. 2025 is proving to be our biggest year yet.' Etihad Airways passenger numbers double Etihad has introduced three more aircraft into its expanding fleet, bringing the operational fleet size to more than 100 aircraft. The airline welcomed back its seventh Airbus A380 to service and received a brand-new Boeing B787-9 delivered from Charleston, US, with an all-Emirati flight crew. Etihad also received the first of three brand-new Airbus 350-1000s delivered on July 18. Boasting one of the youngest aircraft fleets in the industry, Etihad continues to make strategic investments to meet the overwhelming demand from guests. The airline is expecting to receive 18 additional new aircraft in 2025, including the delivery of its new A321LR fleet which will enter into service from August 1. Refining luxury, the new A321LR fleet will offer First Suites, fully lie-flat Business seats, 4K screens and high-speed super Wi-Fi in all cabins, allowing guests to stay connected via messages, calls and stream while in the air. Earlier this year, Etihad announced the order of 28 wide-body aircraft from Boeing to support its plans for growth and connectivity, operational efficiency and guest experience. Following the airline's recent announcement of seven additional destinations, Etihad will have added 27 new routes this year, a remarkable milestone that reflects its ambition and commitment to increase the number of visitors to Abu Dhabi. Flying to almost 90 destinations worldwide by the end of 2025, leveraging its strategic geographical advantage connecting Europe and Asia, this expansion is part of Etihad's ongoing strategy to support the economic growth of Abu Dhabi. These achievements are a huge step toward the goals the Etihad set out in its ambitious growth strategy which would see the network grow to more than 125 destinations, fleet to more than 170 aircraft, and passenger numbers to 38m per year, by 2030. With rapid growth in every direction, the airline is set to exceed the expectations of its seven-year growth plan, a reflection of demand and extraordinary customer satisfaction. The UAE carrier's success is a reflection of Abu Dhabi's strong aviation sector which continues to demonstrate robust growth and strategic momentum, underscoring its position as a leading global gateway for passengers and cargo.
Khaleej Times
2 hours ago
- Khaleej Times
New UAE tax rule: Less sugar to reduce prices of sweetened drinks, says expert
Incentivising manufacturers to reduce sugar levels in their products would not only encourage healthier dietary choices but would also benefit consumers with lower prices, a tax expert told Khaleej Times on Friday. This comes after the announcement by the Ministry of Finance (MoF) and Federal Tax Authority (FTA) to implement a selective tax on sugar-sweetened beverages (SSBs). From early next year, the excise tax imposed on SSBs — including carbonated and energy drinks — will be based on their sugar content rather than their category, replacing the current fixed percentage-based rate. Currently in the UAE, all carbonated drinks as well as powdered and concentrated drink mixes with added sugar or other sweeteners are levied 50 per cent excise tax. Energy drinks and all tobacco products, meanwhile, are charged 100 per cent. Both the MoF and FTA have yet to provide details on the percentage of excise tax on sweetened drinks, but Thomas Vanhee, founding partner at Aurifer Middle East Tax Consultancy, has already called the new scheme a win-win formula for the consumers. 'With the introduction of excise tax that was broadened in 2019, the basis for the (excise tax) calculation has been the retail sales, which is the price at which the final consumer normally buys the product,' noted Vanhee, who is also an affiliate professor of tax law. 'This will be replaced in early 2026 with a system where, instead of looking at the retail sales price, we look specifically at the sugar content. This could indeed provide an incentive for companies to reduce the sugar content so that they can improve their margins, reduce the taxes, and therefore would be more beneficial for the consumers with retail prices being lowered,' Vanhee added. Accelerating reforms 'From the excise tax point of view,' Vanhee continued, 'the importers or manufacturers are mainly going to be the ones that would benefit from the new tax scheme. But ultimately and hopefully they will pass on the savings to the consumers. 'Even the local restaurants or cafeterias will also benefit as they will be buying from the distributors or manufacturers.' Vanhee observed: 'The excise tax was initially meant to reduce the consumption of products which are considered harmful for health such as energy drinks, tobacco, and later on, sugary drinks were added. I believe the UAE now wants to accelerate the effects of this tax by a change in policy, hoping to further decrease consumption of sugar in drinks.'
Arabian Business
2 hours ago
- Arabian Business
UAE to introduce sugar tax for beverages from 2026
The UAE will introduce a new tiered sugar tax from 2026 as it looks to promote public health and reduce consumption of sugary drinks. The UAE Ministry of Finance and Federal Tax Authority (FTA) announced a major revision to the excise tax framework on sugar-sweetened beverages (SSBs), introducing a new sugar-based tiered tax system that will take effect in early 2026. Unlike the current flat-rate model, the new system will link the tax per litre of beverage directly to its sugar content per 100ml—meaning the higher the sugar concentration, the higher the tax. UAE sugar tax This reform aligns with the UAE's national health strategy to reduce sugar consumption, combat lifestyle-related diseases, and promote healthier dietary habits among consumers. The amendment reflects a shift toward data-driven policy that incentivises manufacturers to reduce sugar levels in their products and empowers consumers to make more informed choices. It also supports regional efforts to harmonise tax policy across the Gulf and reinforces the strategic use of taxation as a tool to drive sustainable development. Developed in coordination with the Ministry of Health and Prevention, the new model is part of a long-term strategy to improve public health outcomes through fiscal legislation. Businesses—including importers, suppliers, and manufacturers—will have sufficient time to adapt, with comprehensive awareness campaigns and technical guidance set to launch ahead of the 2026 rollout. Further details, including implementing legislation and compliance requirements, will be released in the coming months.
