Saudi Arabia Postpones ‘Davos in the Desert’ After Houthi Attacks

October 19, 2026

AI Summary

5 min read

Saudi Arabia Postpones ‘Davos in the Desert’ After Houthi Attacks on Riyadh Airport

Saudi Arabia has postponed its flagship investor conference, known as "Davos in the Desert," until next year after the Houthis repeatedly targeted Riyadh's airport this month. The decision marks a significant setback for the kingdom's economic transformation plans and Crown Prince Mohammed bin Salman's signature annual event.

The Conference Delay and Its Geopolitical Context

The Future Investment Initiative, originally scheduled for next week, was driven by escalating conflict with the Houthis. WSJ foreign correspondent Stephen Kalen reported that the airport in Riyadh was targeted multiple times in October, creating a sense that it was not safe enough for high-level executives to feel comfortable flying in. Top guests including JPMorgan's Jamie Dimon and Citigroup's Jane Fraser had been deliberating whether to attend, and bankers from both firms had already begun canceling meetings. There was extensive private backchanneling to Saudi officials explaining that it would be difficult for senior figures in finance and business from New York, London, and elsewhere to make the trip.

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What you'll learn

1 (00:33) **Saudi Arabia Delays 'Davos in the Desert'** - The Future Investment Initiative conference is postponed to next year after Houthi attacks on Riyadh's airport.
2 (03:09) **Saudi National Accused of Bugging OpenAI** - New court filing says Abdul Rahman Al-Fazan was in contact with Saudi royalty about jobs before his arrest.
3 (03:41) **Elon Musk Pledges SpaceX Shares to Kids** - Musk says he will give one SpaceX share to every American child next year.
4 (04:16) **Pharma Bets Billions on 'Protein Degraders'** - A new class of drugs shows promise in targeting hard-to-reach proteins in disease cells.
5 (06:04) **Markets: Tech Stocks Recover, French Bonds Sell Off** - The Nasdaq rose more than 1% after last week's sell-off, while French government bonds fell after violent protests.
6 (07:27) **K-Shaped Housing Market Splits Builders** - Mortgage rates above 7% push entry-level buyers to the sidelines while the luxury market booms.
7 (10:57) **'You Can See Everything' Documentary Breaks Box Office Records** - The Elizabeth Holmes documentary had the strongest opening weekend for a non-concert documentary since 2004.

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Show Notes

P.M. Edition for Oct. 19. Saudi Arabia’s Future Investment Initiative conference was scheduled for next week—now, its organizers are postponing the event until next year after Houthi attacks on the country. WSJ foreign correspondent Stephen Kalin explains why it’s a blow to Crown Prince Mohammed bin Salman’s push to attract foreign investment. Plus, high mortgage rates might be putting entry-level home buyers off, but the U.S. luxury housing market is booming. We hear from housing reporter Nicholas Miller about what’s driving the K-shaped housing market and what that means for home builders. And “You Can See Everything,” the documentary about the convicted startup founder Elizabeth Holmes, just had a big opening weekend. Journal film and culture reporter Esther Zuckerman tells us what all the buzz is about (without spoilers). Alex Ossola hosts.

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