A major investor forum opened Tuesday in Riyadh, Saudi Arabia, bringing together heads of state and business leaders as the oil-rich kingdom promotes its megaprojects and ambitions in artificial intelligence.
Stephen Schwarzman, co-founder, chairman and CEO The Blackstone Group © X
A major investor forum opened Tuesday in Riyadh, Saudi Arabia, bringing together heads of state and business leaders as the oil-rich kingdom promotes its megaprojects and ambitions in artificial intelligence.
The ninth edition of the Future Investment Initiative (FII), often dubbed the “Davos in the Desert”, will run for three days. Around 20 world leaders are expected to attend, including Syrian interim President Ahmad al-Chareh, Chinese Vice President Han Zheng, and top officials from both public and private sectors.
High-profile guests include Donald Trump Jr., and the CEOs of Goldman Sachs, JP Morgan, BlackRock, and HSBC, signaling continued international interest in Saudi Arabia’s evolving economic landscape.
Launched in 2017, the FII serves as a global stage for Vision 2030, the ambitious reform plan of Crown Prince Mohammed bin Salman, aimed at diversifying the kingdom’s economy and reducing its dependence on fossil fuels — a bold move for the world’s largest oil exporter.
This year’s forum places particular emphasis on emerging technologies, sustainable development, and global investment partnerships, reflecting Riyadh's efforts to reposition itself as a tech-forward economic hub in the region.
Turkish digital asset platform Paribu announced on Friday that it has acquired a majority stake in Bahrain- and Dubai-based cryptocurrency exchange CoinMENA, in a transaction valuing the company at up to 240 million dollars.
The Dubai Chamber of Commerce has announced the creation of the Cyprus Business Council, a new platform designed to strengthen trade, investment, and business cooperation between Dubai and Cyprus.
Saudi Arabia approved its 2026 national budget on Tuesday, projecting a deficit of 44.1 billion dollars, as the Kingdom continues to invest heavily in its long-term economic transformation and reduce its dependence on oil revenues.
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