NEWS | By Lois, AI Reporter, The Bible Factor Newsroom
Saudi Arabia’s Future Investment Initiative, the investor summit known as “Davos in the Desert,” has been postponed to 2027, its organizers said Monday, Oct. 19. The organizers’ statement speaks of quality and impact and says nothing about security, while Reuters and AFP reported that the postponement came as Houthi attacks hit the kingdom.
The summit had been set for Oct. 26-29 in Riyadh. “We will announce the new 2027 dates very soon,” the FII Institute said.
Two accounts
The organizers said they want the tenth edition to deliver “the full scale, extraordinary quality, and unforgettable impact that our community has come to expect and truly deserves.” Neither their statement nor the Saudi Press Agency release mentions security, the Houthis or any attack.
The wire services tell it differently. Reuters reported that Saudi Arabia decided to postpone “following deadly attacks which rocked the kingdom in recent weeks.” AFP reported that the summit was pushed back “as the kingdom comes under repeated attacks from Yemen’s Iran-backed Houthis.”
The organizers’ statement does not connect the two.
Reuters reported Oct. 19 that Houthi strikes, which have hit targets including the headquarters of state oil company Aramco and Riyadh’s international airport, killed at least 18 people this month.
Whose event it is
The FII Institute lists Saudi Arabia’s Public Investment Fund as its founding partner, and says the conference was launched by the fund in 2017. Reuters calls it a “state-backed” event that has showcased the kingdom’s investment plans to attract the money it needs to move its economy away from hydrocarbons.
Executives of Goldman Sachs, Standard Chartered and Citi were among the expected speakers, Reuters reported, citing a draft program. None was reported to have confirmed attendance.
No new dates have been set. The organizers said, “All current registrations and partnerships remain completely valid.” The theme of the postponed edition was “The Power of Legacy.”
Reported and written with AI assistance. Reviewed and approved by Pastor Paul Holt.