Saudi Arabia's Future Investment Initiative (FII) conference has been postponed to next year, according to a notice on the event's official website, as deadly attacks on the kingdom by the Iran-backed Houthi movement continue.
In an announcement issued on Tuesday, the annual event, which had been due to open next week from October 26 to 29, was pushed back to next year, with a specific date to be announced "very soon."
Dr Maha Bint Mishari Al Saud, chief executive of the FII Institute, said the decision "stems from our deep commitment to our partners, members, speakers and delegates."
"As this is our milestone tenth edition, we want to ensure the event delivers the full scale, exceptional quality and unforgettable impact that our community has come to expect and truly deserves," she said.
Informally dubbed "Davos in the Desert" by the media, a nod to the World Economic Forum's annual gathering in Switzerland, the state-sponsored conference is a showcase for the kingdom's ambitious investment plans, designed to attract the billions of dollars needed to fund its economic shift away from oil dependence toward tourism, sport and technology.
According to the FII website, scheduled speakers included Alphabet & Google president and chief information officer Ruth Porat, Goldman Sachs Group chairman and chief executive David Solomon, and BlackRock chairman and chief executive Laurence Fink.
Fighting between the Saudi-led coalition, which backs Yemen's internationally recognised government, and the Iran-aligned Houthis has escalated in recent weeks.
The Houthis, also known as Ansar Allah, have struck military, energy and civilian infrastructure across Saudi Arabia, including Riyadh International Airport, killing at least 18 people and injuring hundreds.
Government tells staff to work from home
Government agencies in the capital Riyadh have asked employees to work from home as the city comes under repeated Houthi attack, according to an employee and two consultants who spoke to AFP.
The Kingdom Centre, the 99-storey tower in central Riyadh that houses the International Monetary Fund's regional office, has also told staff not to come in until further notice.
On Sunday, an employee at a government agency in the capital received a message saying: "It has been decided to implement remote work from Monday to Thursday this week," adding: "We ask everyone to continue operations as normal."
Other sources said companies based in the King Abdullah Financial District, home to the offices of many major US firms, had also asked staff to work from home.
