Saudi Arabia and the United Arab Emirates are allies, but beneath the surface is a war for economic hegemony in the Gulf. The Saudis are challenging the status of the Emirates and emphasizing Dubai as the business and commercial center of the region.

Today this struggle escalated as Saudi Arabia announced a $6.4 billion investment in future technologies.

According to the Saudis, the funds will be invested in new technological ventures, start-up companies and will also be used to attract leading foreign companies to the Saudi market. All major Saudi companies are mobilizing for the effort including the national oil company Aramco which has pledged $1 billion in investment.

The goal of these billions is to turn Saudi Arabia into a high-tech center in the coming years, at the expense of the current leader in the field in the Gulf - the Emirates.