Saudi Arabia postpones in-person investment conference after Houthi attacks

Summarised from 4 outlets · Updated 19 Oct, 16:19 · Archive

Saudi Arabia has cancelled in-person attendance at its annual Future Investment Initiative after Houthi missile and drone strikes.

Saudi Arabia has cancelled in-person attendance at its Future Investment Initiative, the kingdom's flagship annual investment conference, after a series of Houthi attacks on critical infrastructure. Organisers are currently deciding whether to hold the tenth edition of the event, often dubbed 'Davos in the Desert', virtually or to postpone it altogether. A final decision is expected within days.

The conference typically attracts heads of state and executives from the world's largest banks, asset managers and energy majors. It serves as the premier stage for Saudi Arabia to sign multi-billion-dollar deals with global corporate executives, tech founders and Wall Street figures. This year's summit had been scheduled to feature speakers including JPMorgan chief executive Jamie Dimon and BlackRock chief executive Larry Fink.

The decision follows recent Houthi attacks on the kingdom. Last week, a strike on King Khalid International Airport killed 13 people, while another attack set part of Aramco's headquarters ablaze. The disruption represents a direct blow to Crown Prince Mohammed bin Salman's efforts to attract foreign capital and establish Riyadh as the Middle East's premier business and financial hub.

How it is being reported

• Saudi Arabia scraps in-person investor summit as Houthi missile attacks rattle kingdomMissile strikes by Iran-backed Houthi rebels raise security fears across the kingdom.New York Post · 19 Oct, 16:18
• Saudi Arabia postpones big investor conference to 2027 as Iran-backed Houthis escalate attacks on kingdomCNBC · 19 Oct, 16:14
• Saudi Arabia to postpone in-person ‘Davos in the desert’ after Houthi attacks: reportThe rebel group has delivered yet another economic blow to the kingdomIndependent World · 19 Oct, 16:06
• Saudi Arabia to postpone in-person ‘Davos in the desert’ event after Houthi attacksAnnual Future Investment Initiative was scheduled to begin next week in RiyadhFinancial Times · 19 Oct, 15:25

In this story: Saudi Arabia · Houthi · Future Investment Initiative · Mohammed bin Salman · JPMorgan · BlackRock · Aramco

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem