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). 
TT

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.

 

 

 

 



Saudia to Launch Riyadh-Kozhikode Flights in February

Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. Picture taken through a window. REUTERS/Mohamed Abd El Ghany/File Photo
Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. Picture taken through a window. REUTERS/Mohamed Abd El Ghany/File Photo
TT

Saudia to Launch Riyadh-Kozhikode Flights in February

Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. Picture taken through a window. REUTERS/Mohamed Abd El Ghany/File Photo
Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. Picture taken through a window. REUTERS/Mohamed Abd El Ghany/File Photo

Saudia Airlines has added Kozhikode, India, to its network of scheduled international destinations, marking its seventh destination in the country alongside Bangalore, Mumbai, Kochi, Delhi, Hyderabad, and Lucknow, as part of the airline’s strategy to reach new international markets, connect the Kingdom to the world through its modern fleet, and strengthen its global competitive position, SPA reported.

Flights to Kozhikode will begin on February 1, 2026, with four weekly departures from King Khalid International Airport in Riyadh.

Reservations are available through the airline’s website and mobile applications.

The addition of Kozhikode further expands Saudia's growing operational network, which now covers over 100 destinations across four continents and operates more than 550 domestic and international flights daily.


Egypt Signs Renewable Energy Deals Worth $1.8 Billion

The Wolf Moon, the first supermoon of 2026, lights up the night sky in Cairo, Egypt, January 3, 2026. REUTERS/Mohamed Abd El Ghany
The Wolf Moon, the first supermoon of 2026, lights up the night sky in Cairo, Egypt, January 3, 2026. REUTERS/Mohamed Abd El Ghany
TT

Egypt Signs Renewable Energy Deals Worth $1.8 Billion

The Wolf Moon, the first supermoon of 2026, lights up the night sky in Cairo, Egypt, January 3, 2026. REUTERS/Mohamed Abd El Ghany
The Wolf Moon, the first supermoon of 2026, lights up the night sky in Cairo, Egypt, January 3, 2026. REUTERS/Mohamed Abd El Ghany

Egypt has signed renewable energy deals worth a combined $1.8 billion, state TV reported on Sunday.

Among the deals were contracts with Norwegian renewable energy developer Scatec and China's Sungrow.

Egypt hopes to have renewable energy reach 42% of its electricity generation mix by 2030, but officials say the goal will be ⁠at risk without more international support.

The first project will be the construction by Scatec of a solar energy plant to generate electricity and energy storage stations in Upper Egypt's Minya, ⁠an Egyptian cabinet statement said.

It would have a generation capacity of 1.7 gigawatts supported by battery storage systems with total capacity of 4 gigawatt hours.

A second project will be a Sungrow factory to manufacture energy storage batteries at the Suez Canal Economic Zone. A share of the factory's output ⁠would be supplied to the first project, the cabinet said.

The deals also include power purchase agreements, with Scatec signing a deal for total capacity of 1.95 gigawatts and 3.9 gigawatt hours of battery storage systems, the Norwegian company said in a statement.


Iraq Says Gas Flaring to Reach Zero by End-2028

Iraq’s Prime Minister Mohammed Shia al-Sudani inspects the electricity ministry pavilion at the Iraq Energy Exhibition and Conference
Iraq’s Prime Minister Mohammed Shia al-Sudani inspects the electricity ministry pavilion at the Iraq Energy Exhibition and Conference
TT

Iraq Says Gas Flaring to Reach Zero by End-2028

Iraq’s Prime Minister Mohammed Shia al-Sudani inspects the electricity ministry pavilion at the Iraq Energy Exhibition and Conference
Iraq’s Prime Minister Mohammed Shia al-Sudani inspects the electricity ministry pavilion at the Iraq Energy Exhibition and Conference

Iraq’s Prime Minister Mohammed Shia al-Sudani stated on Saturday that the government is moving forward with the development of clean and renewable energy sectors.

Speaking at the opening of the Iraq Energy Exhibition and Conference, al-Sudani said Iraq has made significant progress in capturing associated gas, with the rate of flaring reduced by more than 72%.

He said flaring will be fully eliminated by the end of 2028.

“We have infrastructure projects at the level of the Ministry of Oil that ensure export capacity and the diversification of export outlets,” al-Sudani said, according to the Iraqi News Agency.

He added that Iraq is holding talks with international companies to invest in associated gas and free gas in oil fields and exploration blocks, expressing hope that the conference would help reinforce this direction. He said the government has also moved toward establishing a permanent platform to secure Iraq’s gas needs through imports or future exports.

Al-Sudani stated that the Ministry of Electricity is working to increase power generation under an ambitious plan that exceeds 57,000 megawatts through the Siemens and GE project.

He added that the ministry is also advancing renewable energy projects, both large and small, with a plan at the district and subdistrict levels in Baghdad and other provinces to transition to renewable energy, which is expected to be implemented by next summer.

He said the government is placing strong emphasis on both conventional and renewable energy in a way that ensures sustainable development.

Al-Sudani stated that the exhibition showcases Iraq’s position as a promising market with significant opportunities in the energy sector, through various projects, partnerships, and investment opportunities.

He said the government has made significant progress in boosting energy production through major oil projects in partnership with global companies, including TotalEnergies and BP, adding that talks are ongoing with ExxonMobil, Chevron, and other international firms.

Talks with Chevron

Iraq’s Oil Minister Hayan Abdul Ghani said talks are underway with Chevron regarding the West Qurna 2 oil field, which is operated by Lukoil and represents the company’s largest foreign asset.

Chevron and Exxon Mobil are among the potential bidders for Lukoil’s overseas assets following the imposition of US sanctions on the Russian oil producer.

Speaking to reporters after the opening of the energy exhibition and conference, Abdul Ghani stated that negotiations with Chevron over the West Qurna 2 field in Basra province are ongoing.

He added that Basra Oil Company, the second partner in the field, has not yet taken over operations following Lukoil’s withdrawal.

Al-Sudani opened the 11th edition of the Iraq Energy Exhibition and Conference in Baghdad on Saturday, with the participation of more than 450 local, Arab, and international companies specializing in energy and investment.

The event runs for three days.

The Iraqi Company for Exhibitions and Commercial Services said the conference, held at the Baghdad International Fairgrounds from Jan. 10 to 12, will feature panel discussions, specialized workshops, and meetings aimed at supporting the energy sector and expanding partnership and investment opportunities, with participation from more than 450 companies.

Iranian gas

Iraq’s Ministry of Electricity said there are no indications that Iranian gas supplies will resume soon.

A ministry spokesperson stated that media outlets were notified via a message from Iran on Telegram, which indicated that gas supplies had been halted due to low temperatures and Tehran’s domestic gas needs.

Iraq announced in December that Iranian gas supplies had ceased, resulting in the shutdown of some power generation units and load reductions at others. The Ministry of Electricity said the grid lost between 4,000 and 4,500 megawatts as a result.

Iran supplies between 30% and 40% of Iraq’s gas and electricity needs.

Electricity ministry officials previously stated that peak winter demand in Iraq reaches approximately 48,000 megawatts, while domestic production stands at around 27,000 megawatts, forcing the country to rely on imports to bridge the gap.