Saudi Arabia Postpones Investor Conference Amid Escalating Houthi Attacks

Saudi Arabia postponed its annual Future Investment Initiative (FII) conference until 2027 on Monday, citing escalating missile and drone attacks by Iran-backed Houthi militants.

The conference, a centerpiece of Saudi efforts to diversify its oil-dependent economy, was originally scheduled for October 26-29 in Riyadh. Organizers stated they would announce new 2027 dates soon. The decision follows a Houthi attack on King Khalid International Airport in Riyadh on October 10, which killed at least 12 people and injured more than 300.

One person reportedly died later as a result of their injuries, bringing the total to 13 killed in that specific attack according to some reports. Houthi militants have launched repeated waves of missile and drone strikes at Saudi Arabia since the airport attack. The Saudi military intercepted and destroyed several drones launched at the Riyadh region on Friday and Saturday.

Missiles launched over the Red Sea, including one heading toward the port city and oil terminal Yanbu, were also intercepted on Friday. Egypt's National Defense Council, chaired by President Abdel Fattah el-Sisi, pledged all possible forms of support to help Saudi Arabia defend its security on Sunday. French Foreign Minister Jean-Noel Barrot condemned recent Houthi strikes against Saudi Arabia and reaffirmed France's solidarity with the Kingdom during a meeting with Saudi Foreign Minister Prince Faisal bin Farhan in Riyadh.

Pakistan's Chief of Defence Forces Field Marshal Asim Munir and Saudi Arabia's new ambassador to Pakistan, Dr. Rajeh Tami Albugamy, discussed defense cooperation, expressing satisfaction over progress under the Makkah Joint Defence Agreement. Pakistan's Prime Minister Shehbaz Sharif reaffirmed Pakistan's support for Saudi Arabia in safeguarding its sovereignty, security and territorial integrity. Turkish Foreign Minister Hakan Fidan and his Saudi counterpart, Prince Faisal bin Farhan, discussed regional security developments, particularly attacks targeting Saudi Arabia's sovereignty.

The FII typically attracts global business and finance leaders, including Jamie Dimon, David Solomon, Stephen Schwarzman, Larry Fink, and Jane Fraser, who were listed as speakers. The security crisis comes amid broader regional turmoil, with the U.S.-Iran war spreading across the region.