Tensions between the UAE and Saudi over Yemen are bringing into sharp relief the longtime challenge facing many global financial firms here: If you want a share of the bns that sovereign funds are spending, you need to declare for “Team Abu Dhabi” or “Team Riyadh.”

It’s a “delicate balancing act,” Bloomberg writes, that now has some International firms preparing contingency plans following a Saudi ultimatum for UAE forces to withdraw from Yemen. The business information program writes that some UAE-based companies are claiming to have challenges securing Saudi business visas, while others are weighing whether to stockpile inventory or relocate headquarters to Riyadh to comply with the RHQ program.

The silver lining: Analysts remain cautiously optimistic as Saudi ministers have signaled a willingness to de-escalate — and Emirati institutions continue underwriting Saudi debt. The deeply integrated nature of Gulf trade suggests business will largely continue — absent a major escalation, Bloomberg suggests.

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