Riyadh postpones its flagship investment conference until 2027 and orders government staff to work from home.
Published on October 20, 2026
Saudi Arabia’s Future Investment Initiative (FII) conference has been postponed until next year, according to a statement on the official website, as deadly strikes by Iran-backed Houthis against the kingdom continue.
The annual event was scheduled to begin next week, on October 26, and continue until October 29, with a date next year to be announced “very soon,” the statement released Tuesday said.
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FII Institute Managing Director Dr Maha Bint Mishari Al Saud said the decision “comes from a deep commitment to our partners, members, speakers and delegates”.
“Because this is our historic tenth edition, we want to ensure that it delivers the scale, extraordinary quality and unforgettable impact that our community truly expects and deserves,” she said.
Unofficially dubbed “Davos in the Desert”, a nod to the World Economic Forum’s annual meeting in Switzerland, the state-backed conference showcases the kingdom’s ambitious investment plans in a bid to attract the billions of dollars needed to finance its economic transformation from hydrocarbons to tourism, sports and technology.
Expected speakers included: Ruth Porat, president and chief information officer of Alphabet & Google; David Solomon, chairman and CEO of Goldman Sachs Group; and Laurence Fink, chairman and CEO of BlackRock, according to the FII website.
Fighting between a Saudi-led coalition supporting Yemen’s internationally recognized government and the Iran-aligned Houthis has intensified in recent weeks.
The Houthis, also known as Ansar Allah, have struck military, energy and civilian infrastructure across Saudi Arabia, including Riyadh International Airport, killing at least 18 people and injuring hundreds more.
Government staff to work from home
Government agencies in the Saudi capital Riyadh have asked their employees to work from home, an employee and two consultants told the AFP news agency, as the city comes under repeated Houthi attacks.
The Kingdom Centre, a 99-story tower in downtown Riyadh that houses the regional office of the International Monetary Fund, has also asked workers to stay away until further notice.
On Sunday, an employee of a government agency in the capital received a message saying: “It has been decided to implement remote working from Monday to Thursday this week.” The message added: “We ask everyone to continue their activities as normal. »
Companies based in the King Abdullah financial district, which is home to the offices of major U.S. companies, have also asked their employees to work from home, according to other sources.
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