Davos in the Desert: Saudi Arabia woes investors after Khashoggi debacle

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Davos in the Desert: Saudi Arabia woes investors after Khashoggi debacle

The confirmation that the killing of the Saudi Arabian journalist Jamal Khashoggi had indeed been an inside job with higher-ups in the Kingdom having knowledge about the assassination added to the shadow of worry on the Future Investment Initiative.

The three-day event which is being held in Riyadh from 23rd to 25th of October saw multiple withdrawals from international corporates and entrepreneurs so much so that at one point, it had started to be wondered whether the event would be able to garner the attention it had sought to command.

However, as it turned out, the event has seen more than a decent turnout even though the country's reputation has taken a huge hit in the international forum with the threat of sanctions even looming around it. In a bid to shore up its damaged credibility, Ahmed Al-Kholifey, the governor of the Saudi Arabian Monetary Authority announced that there wouldn't be any fall-outs on those corporate houses which decided to not attend the three-day summit, which is also called 'Davos in the Desert.'

The Al-Kholifey also noted that these corporate houses – especially the multinational banking companies – would not be denied licenses to carry out their banking operations from the country. The companies which attended the summit included HSBC, the Japanese conglomerate MUFG and the Russian Direct Investment Fund.