Yemen’s Iran-backed Houthis said on Monday they carried out multiple attacks targeting Saudi Arabia’s energy, airport and military infrastructure, including an Aramco facility in Yanbu, the Shaybah oilfield, King Khalid International Airport in Riyadh and Abha airport, according to a Reuters report.
Saudi Arabia has not yet responded to the Houthi claims.
Amid the continuing attacks, Saudi Arabia has postponed its flagship investment conference until 2027, dealing a setback to the kingdom’s efforts to position itself as a global business hub and attract foreign capital to fund its multitrillion-dollar economic transformation.
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Saudi Arabia postpones flagship investment conference to 2027 amid Houthi attacks
The Future Investment Initiative (FII), which brings together leading figures from the finance, energy and political sectors in Riyadh, will now take place in 2027, organisers said in a statement.
{{/usCountry}}The Future Investment Initiative (FII), which brings together leading figures from the finance, energy and political sectors in Riyadh, will now take place in 2027, organisers said in a statement.
{{/usCountry}}They did not announce specific dates for the event.
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Houthi attacks raise security concerns in Riyadh
The postponement comes after multiple attacks on Saudi Arabia in recent days, with air-raid alerts sounding in Riyadh on Monday night, highlighting the continuing security risks facing the kingdom.
Strikes on the capital’s airport have killed more than a dozen people, disrupted flights and forced several events to be postponed or cancelled.
“This decision has been taken to ensure that our milestone tenth edition delivers the full scale, quality, and impact that our partners, members, speakers, and delegates expect,” the statement said.
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Global finance leaders were expected to attend
The annual conference was scheduled to begin on October 26 and was expected to feature prominent business leaders, including Citigroup Inc. Chief Executive Officer Jane Fraser, Goldman Sachs Group Inc.’s David Solomon and BlackRock Inc.’s Larry Fink.
Organisers had been exploring various contingency measures to ensure the conference could proceed as planned. As recently as last week, they said they were preparing to “welcome thousands of delegates to Riyadh.”
Postponement deals blow to Saudi Arabia’s economic ambitions
The conference is a key platform for Crown Prince Mohammed bin Salman’s efforts to attract the global financial community and promote Saudi Arabia as an investment destination.
The postponement comes at a particularly challenging time for the kingdom, as the ongoing war puts additional strain on its economy and complicates efforts to secure the foreign capital needed to support its ambitious economic transformation plans.