Saudi Arabia has postponed its annual Future Investment Initiative (FII) conference until 2027, Al Jazeera reported on Tuesday, citing a statement released that day. The event, informally dubbed 'Davos in the Desert', was due to start next week, on 26 October, and run through 29 October, with a date next year to be announced 'very soon', the statement said. FII Institute chief executive 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 landmark tenth edition, we want to ensure it delivers the full scale, extraordinary quality, and unforgettable impact that our community has come to expect and truly deserves,' she said.

The state-backed conference showcases the kingdom's ambitious investment plans in a bid to attract the billions of dollars needed to fund its economic transformation away from hydrocarbons towards tourism, sport and technology — yaani, thousands of crores of dollars in investment the kingdom is seeking. Expected speakers included Alphabet and Google's president and chief information officer, Ruth Porat; Goldman Sachs chairman and chief executive David Solomon; and BlackRock chairman and chief executive Laurence Fink, according to the FII website, Al Jazeera reported.

The postponement comes amid an escalation by the Houthis, also known as Ansar Allah, who have hit military, energy and civilian infrastructure across Saudi Arabia, including Riyadh's international airport, killing at least 18 people and injuring hundreds more, Al Jazeera reported, citing AFP reporting. Fighting between a Saudi-led coalition supporting Yemen's internationally recognised government and the Iran-aligned Houthis has escalated in recent weeks.

In the capital, government agencies have told employees to work from home, one worker and two consultants told the AFP news agency, as Riyadh comes under repeated attack. On Sunday, an employee of a government agency received a message saying remote work would run from Monday to Thursday this week: 'We ask everyone to continue their activities as normal.' The Kingdom Centre, a 99-storey tower in downtown Riyadh that houses the International Monetary Fund's regional office, also requested workers stay away until further notice, and companies in the King Abdullah Financial District, which hosts offices of major US firms, have also asked employees to work from home, according to other sources cited by AFP via Al Jazeera.

Sources: Al Jazeera, 'Saudi Arabia cancels 2026 Davos in the Desert amid Houthi attacks', 20 October 2026 (reporting by Al Jazeera staff, AFP); FII Institute statement, 20 October 2026, as quoted by Al Jazeera.