Saudi Arabia postpones 'Davos in the Desert'

An international conference to be held for the 10th time this year in Saudi Arabia was postponed due to the attacks of the Iran-backed Houthis in Yemen. Following the increasing Houthi attacks, Saudi Arabia postponed The Future Investment Initiative Conference, known as "Davos in the Desert", which was expected to be held between 26-29 October, to next year for security reasons. Organization officials stated that the new date will be announced "very soon".

Names from the world's leading financial circles attend the conference every year. The country's ambitious investment plans are introduced at the state-supported event, which is unofficially called "Davos in the Desert" in reference to the World Economic Forum (WEF) Annual Meeting held in Davos, Switzerland, and is held every year. According to the draft program, Goldman Sachs CEO and Chairman David Solomon, Standard Chartered CEO Bill Winters and Citi CEO Jane Fraser were expected to speak at this year's event.