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It's a Big Loss for Saudis, and Not on the Battlefield
Newser • • business
Key Points:
- Saudi Arabia is likely to cancel or postpone its Future Investment Initiative, a major economic forum often referred to as "Davos in the Desert," due to escalating attacks by Houthi fighters aligned with Iran.
- The decision, expected on Tuesday, reflects the impact of recent Houthi strikes, including a deadly attack on Riyadh's airport, raising security concerns for international investors.
- This development represents a significant setback for Crown Prince Mohammed bin Salman, who has been promoting Saudi Arabia as a global financial hub to revive the nation's struggling economy.
- The forum may still be held online, but cancellation appears more probable, according to reports from the Wall Street Journal and the Financial Times.
