‘Davos in the Desert’ brings 150 global leaders to Riyadh

Updated 22 October 2018
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‘Davos in the Desert’ brings 150 global leaders to Riyadh

  • The Future Investment Initiative (FII) runs from Oct. 23 to 25
  • The three key themes of this year’s event are investing in transformation, technology as an opportunity, and advancing human potential

RIYADH: The Public Investment Fund (PIF) of Saudi Arabia has revealed the program for a high-profile gathering of global leaders, business chiefs and innovators in Riyadh next week.

The Future Investment Initiative (FII) runs from Oct. 23 to 25 with US Treasury Secretary Steve Mnuchin and IMF Managing Director Christine Lagarde among those scheduled to take part.

More than 150 speakers from 140 different organizations have confirmed their attendance for the event which was hosted for the first time a year ago and was quickly dubbed “Davos in the Desert” — a reference to the annual World Economic Forum hosted each year in the Swiss resort.

The three key themes of this year’s event are investing in transformation, technology as an opportunity, and advancing human potential.



“FII is a global platform focused on identifying future economic trends and opportunities, defining the future of industries and discussing how investment can contribute to overall global prosperity and development,” the PIF, Saudi Arabia’s sovereign wealth fund, said on Monday.

“Ten years on from the global financial crisis, the world is undergoing a period of large-scale economic and technological transformation. FII will convene global leaders, investors and innovators to discuss how businesses, governments and global institutions can work together to drive long-term growth and prosperity.”

The next installment of FII will include a panel called “One World” — a look at how leaders from business and government develop a collective vision for the future.

Other sessions cover digital currencies, capital flows, market drivers, immersive technology, sustainability and giga-projects such as NEOM, the vast development announced at last year’s FII.


Saudi border guards rescue French passenger from Red Sea cruise ship

Updated 19 April 2019
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Saudi border guards rescue French passenger from Red Sea cruise ship

JEDDAH: Saudi border guards rescued a French female tourist on Friday after she broke her leg on board a cruise ship in the Red Sea.
The 85-year-old was aboard the Costa Luminosa off the coast of south-west Saudi Arabia when the Maritime Rescue Coordination Center in Jeddah received an emergency call from the King Abdulaziz International Airport’s search and rescue center, saying the women needed emergency medical attention.The details of the message was passed to the Saudi Arabia Border Guards.
The border guard’s vessel Al-Lith was sent to meet the cruise ship near Al-Qahma, in the Kingdom’s south-western Asir region.
Lt Col. Misfer Bin Ghanam Al-Qarni, border guards spokesman, said the patient was transferred to Jazan, where she was then taken to Prince Mohammed Bin Nasser Hospital by ambulance.
The Costa Luminosa, which was traveling from Salalah in Oman toward Aqaba in Jordan, continued on its voyage.