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Future Investment Initiative: From ‘Davos in the Desert’ to a Platform for Untangling Global Crises

A view of the audience during one of the sessions at the eighth edition of the Future Investment Initiative conference (Asharq Al-Awsat). 
A view of the audience during one of the sessions at the eighth edition of the Future Investment Initiative conference (Asharq Al-Awsat). 
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Future Investment Initiative: From ‘Davos in the Desert’ to a Platform for Untangling Global Crises

A view of the audience during one of the sessions at the eighth edition of the Future Investment Initiative conference (Asharq Al-Awsat). 
A view of the audience during one of the sessions at the eighth edition of the Future Investment Initiative conference (Asharq Al-Awsat). 

The annual Future Investment Initiative (FII) is evolving from an investment forum into a powerful geoeconomic and diplomatic platform. In the midst of unprecedented geopolitical and economic transformations, Riyadh is consolidating its status as an indispensable global hub, a place where future-shaping decisions are made and urgent diplomatic solutions take form.

As the Saudi capital hosts the ninth edition of the FII - bringing together some of the world’s most influential figures in finance and technology to chart a roadmap for sustainable growth and artificial intelligence - it is simultaneously witnessing an intense wave of diplomatic activity, including high-level coordination meetings on the two-state solution.

Riyadh is positioning itself as a bridge between global capital, development imperatives, and the requirements of regional stability and peace.

The ninth edition of the forum opened with closed sessions on Monday, with the official launch scheduled for Tuesday under the theme “The New Compass: Unlocking New Frontiers for Growth.” More than 8,000 participants and 650 prominent speakers are taking part in 250 discussions.

What began years ago as an investment gathering with a local lens - dubbed “Davos in the Desert” - has now matured into a global geoeconomic platform designed to navigate and address complex crises.

This transformation comes at a critical time for the world economy. Trade tensions, including US tariffs, and geopolitical instability in Europe and the Middle East have created high levels of uncertainty. Global growth faces mounting risks.

By contrast, Saudi Arabia has charted a different course, demonstrating strong resilience against external shocks and an ability to adapt quickly to changing conditions. This strength is supported by the steady expansion of its non-oil sectors, a cornerstone of its economic diversification strategy, making the Kingdom a reliable anchor for global capital in an increasingly fragmented world.

The initiative also functions as a bridge for global capital and a key platform for investors interested in the Middle East. Globally, discussions on artificial intelligence, sustainable energy, and innovation are already shaping capital flows and influencing the valuations of major companies.

For Saudi Exchange (Tadawul), the event acts as a significant catalyst. Direct engagement between the Public Investment Fund (PIF) and global investment banks enhances awareness of the Saudi market’s depth and liquidity, aligning with the Kingdom’s goal of increasing its weight in global indices and paving the way for large upcoming IPOs.

This year, the forum carries unprecedented geopolitical weight. It takes place at a moment when regional focus is shifting from conflict to reconstruction and development. High-level diplomatic attendance, coordination meetings on the two-state solution, and discussions addressing global conflicts all underscore Riyadh’s emerging role as a mediator capable of linking political stability with economic investment.

One of the forum’s headline sessions explores three key themes: progress, innovation, and fragmentation. It addresses questions of market efficiency, the environmental cost of economic expansion, the responsible use of AI, technological entrepreneurship, climate resilience, and how to secure global supply chains in a world defined by economic competition and digital transformation.

Yasir Al-Rumayyan, Governor of the PIF and Chairman of the Future Investment Initiative Institute, will officially open the forum, presenting the fourth edition of the “Priority Compass.” This extensive survey draws on the views of tens of thousands of participants from 32 countries, representing 66 percent of the world’s population. Its aim is to guide decision-makers toward citizen-centered solutions.

The final day of the event, known as Investment Day, will be devoted to signing deals, presenting high-growth projects and emerging technologies, and fostering connections between founders and global investors. Asset managers overseeing more than $100 trillion in assets are expected to participate.

Among the prominent speakers are Laurence D. Fink of BlackRock, Jamie Dimon of JPMorgan Chase, David Solomon of Goldman Sachs, Bruce Flatt of Brookfield Asset Management, Bill Winters of Standard Chartered, Jane Fraser of Citigroup, Jenny Johnson of Franklin Templeton Investments, Ray Dalio of Bridgewater Associates, Stephen A. Schwarzman of Blackstone, Cathie Wood of ARK Invest, and Alex Clavel of SoftBank Vision Fund. Also attending are CEOs from Barclays, Nasdaq, Temasek Holdings, and China Investment Corporation.

Behind closed doors, Monday’s sessions delved into cutting-edge technological and economic shifts, from quantum computing breakthroughs to digital currencies and carbon accounting. One session, “Can We Win the Quantum Computing Race and Turn It into Profit?”, examined rapid developments in quantum hardware and software and noted that governments worldwide have committed more than $40 billion to research and development in this field.

Another session, supported by Saudi Aramco, reviewed new methods to measure product-level carbon emissions, aiming to bring greater transparency to corporate climate performance. A third session explored how digital currency infrastructure could redefine global finance, with discussions on stablecoins, central bank digital currencies, and the role of major institutions such as Bank of America, PayPal, and Stripe in driving cross-border payment solutions.

 

 

 

 

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Gold Holds Steady, Eyes Fourth Weekly Gain on US-Iran Peace Deal Hopes

Samples of gold displayed in a program affiliated with the Brazilian Federal Police specializing in tracking gold in Brasilia (Reuters)
Samples of gold displayed in a program affiliated with the Brazilian Federal Police specializing in tracking gold in Brasilia (Reuters)
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Gold Holds Steady, Eyes Fourth Weekly Gain on US-Iran Peace Deal Hopes

Samples of gold displayed in a program affiliated with the Brazilian Federal Police specializing in tracking gold in Brasilia (Reuters)
Samples of gold displayed in a program affiliated with the Brazilian Federal Police specializing in tracking gold in Brasilia (Reuters)

Gold held largely steady on Friday and was on track for a fourth straight weekly gain, as hopes for a US-Iran peace deal eased fears of higher inflation and elevated interest rates.

Spot gold eased 0.1% to $4,784.72 per ounce by 0646 GMT, but was up about 1% so far this week. US gold futures for June fell 0.1% to $4,805.20.

A 10-day ceasefire between Lebanon and ‌Israel went ‌into effect on Thursday and US President Donald ‌Trump ⁠said the next meeting between ⁠the United States and Iran may take place over the weekend.

"Investors are now watching closely for concrete progress in US-Iran negotiations. Any progress or extension of the current fragile ceasefire could further calm oil markets and inflation fears, potentially unlocking more upside for gold," said Tim Waterer, chief market analyst at KCM Trade.

The US dollar was headed ⁠for a second weekly drop, making greenback-denominated commodities ‌more affordable for holders of other currencies, Reuters said.

Oil ‌prices fell, easing fears of higher inflation on optimism that the Iran ‌war could be nearing an end.

Concerns that higher energy prices ‌could stoke inflation and keep global interest rates higher for longer have driven down gold prices by more than 8% since the Iran war began in late February.

While gold is considered an inflation hedge, higher interest rates crimp ‌demand for the non-yielding asset.

Traders now see a 27% chance of a 25-basis-point Federal Reserve interest ⁠rate cut in ⁠December. Before the war, there were expectations of two reductions for this year.

Meanwhile, Indian banks have halted gold and silver import orders from overseas suppliers, with tons of the metals stuck at customs as a formal government order has not been issued authorizing bullion imports.

Gold demand in India was modest this week, as high domestic prices weighed on retail purchases ahead of the key Akshaya Tritiya festival weekend, while premiums in China held steady.

Spot silver rose 0.3% to $78.61 per ounce, and was headed for a fourth straight weekly gain.

Platinum fell 0.3% to $2,079.24 and palladium was down 0.5% at $1,542.50. Both the metals were on track for a third straight weekly gain.

Business

IMF: Middle East Faces Pivotal Economic Moment

Azour speaks during a presentation of the Regional Economic Outlook update (AFP)
Azour speaks during a presentation of the Regional Economic Outlook update (AFP)
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IMF: Middle East Faces Pivotal Economic Moment

Azour speaks during a presentation of the Regional Economic Outlook update (AFP)
Azour speaks during a presentation of the Regional Economic Outlook update (AFP)

The International Monetary Fund said the Middle East, North Africa, and Pakistan were facing a pivotal and exceptionally difficult moment in their modern economic history after the war that broke out on Feb. 28, 2026, describing it as a severe and multifaceted shock to one of the world’s most strategically important economic corridors.

The IMF said the conflict was not merely a border crisis but had disrupted “three pillars of stability, energy markets, trade routes, and business confidence,” triggering a global energy shock and weakening supply chains.

Amid these challenges, Saudi Arabia’s economy emerged as a model of resilience, showing what the IMF described as “exceptional sturdiness” that enabled it to absorb the impact of disruptions to the Strait of Hormuz and a decline in regional output, supported by the pillars of Vision 2030, which strengthened fiscal discipline and logistical flexibility.

Jihad Azour, director of the IMF’s Middle East and Central Asia Department, said while presenting an update of the Regional Economic Outlook in Washington, on the sidelines of the IMF and World Bank Spring Meetings, that the war was reshaping the region’s economic outlook.

At the center of the shock was energy, he said, noting that the Strait of Hormuz, “the world’s most critical energy chokepoint, through which roughly one-fifth of global oil supply and about one-quarter of global LNG trade normally transit,” had come close to a standstill.

He said disruptions and shutdowns had cut oil and gas output across Gulf Cooperation Council countries, pushing Brent crude above $100 a barrel, while “European gas prices rose by roughly 60 percent, exceeding the spike observed after Russia’s invasion of Ukraine,” putting global energy security at risk.

He said energy disruptions caused by the war would weigh heavily on Gulf exporters, while oil-importing countries such as Egypt and Jordan were facing higher commodity prices and weaker remittance flows.

More broadly, the Middle East and North Africa region is expected to see a marked slowdown in growth this year, with real GDP projected at about 1.1%, significantly below pre-war forecasts, before a recovery in 2027, according to the IMF.

Azour said the shock extended beyond oil and gas, noting that “commodity disruptions extend beyond oil and gas,” affecting fertilizers, chemicals, and other products in which the region holds a strategic position.

He warned that rising food costs were directly threatening vulnerable populations, saying that “these price increases translate directly into higher food costs for some of the world’s most vulnerable populations,” particularly in import-dependent economies across the region and beyond.

He added that the conflict had also affected services, saying, “air traffic collapsed at major Gulf hubs, maritime insurance premiums surged, shipping routes lengthened, and logistics chains weakened,” highlighting the broad impact on aviation and logistics.

The IMF said some oil-importing economies in the region relied heavily on Gulf countries for energy imports and financial flows, leaving them exposed if the conflict intensified or persisted.

Saudi experience

Azour said one of the most important lessons from the war and the disruption of the Strait of Hormuz was the need to diversify trade routes.

“This shock underscores the importance of building greater resilience and strengthening integration,” he said, adding that this includes “diversifying trade routes and deepening regional cooperation,” to ensure the continued flow of goods and energy.

He said Saudi Arabia’s approach under its strategic vision went beyond infrastructure development to a broader reshaping of logistics networks. By expanding alternative ports on the Red Sea and strengthening land and rail connectivity, the kingdom reduced its reliance on a single maritime chokepoint.

He said this ability to create parallel trade routes allowed Saudi trade to continue effectively despite disruptions to regional corridors, offering a model for protecting economic security and ensuring uninterrupted supply flows.

Egypt

Azour said economic reforms implemented by Egypt, along with stronger policy buffers, were helping the country better manage external shocks.

He said allowing the exchange rate to become more flexible helped absorb shocks, while higher reserves provided reassurance to markets.

Regional divergence

The IMF report highlighted a sharp divergence across countries. Qatar faced a steep downgrade to growth forecasts due to damage to its gas infrastructure, while Oman showed relative resilience given its geographic position outside the Strait of Hormuz.

At the same time, financing pressures increased on Egypt, Pakistan, and Jordan as sovereign spreads widened, prompting Azour to stress that the IMF stood ready to support countries.

He said that if oil production recovered and the Strait of Hormuz fully reopened, countries would be able to increase output quickly, adding that higher oil prices compared with pre-2026 levels would help producers recover some of their losses from the crisis.

Business

Pakistan Central Bank Receives $2 billion from Saudi Arabia as Part of Broader Financial Support Package

Mohammed Al-Jadaan and Muhammad Aurangzeb following the agreement for Saudi Arabia to provide an additional $3 billion in support to Pakistan (X).
Mohammed Al-Jadaan and Muhammad Aurangzeb following the agreement for Saudi Arabia to provide an additional $3 billion in support to Pakistan (X).
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Pakistan Central Bank Receives $2 billion from Saudi Arabia as Part of Broader Financial Support Package

Mohammed Al-Jadaan and Muhammad Aurangzeb following the agreement for Saudi Arabia to provide an additional $3 billion in support to Pakistan (X).
Mohammed Al-Jadaan and Muhammad Aurangzeb following the agreement for Saudi Arabia to provide an additional $3 billion in support to Pakistan (X).

Pakistan announced that it has received $2 billion from Saudi Arabia’s Ministry of Finance as part of a broader financial support package.

Earlier, Pakistan’s Finance Minister, Muhammad Aurangzeb, said that Saudi Arabia had committed to depositing an additional $3 billion, while extending an existing $5 billion loan for three years instead of renewing it annually.

This support comes as Pakistan faces repayment of $3.5 billion to the United Arab Emirates, putting pressure on its reserves, which stand at about $16.4 billion.

Saudi Arabia has a history of assisting Pakistan during economic crises, including a $6 billion support package in 2018 that included deposits and deferred oil payments.