middle east conflict – Artifex.News https://artifex.news Stay Connected. Stay Informed. Tue, 11 Aug 2026 14:16:00 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.3 https://artifex.news/wp-content/uploads/2026/05/cropped-cropped-app-logo-32x32.png middle east conflict – Artifex.News https://artifex.news 32 32 MRF Q1 profit drops 1.3% on input costs https://artifex.news/article71332433-ece/ Tue, 11 Aug 2026 14:16:00 +0000 https://artifex.news/article71332433-ece/ Read More “MRF Q1 profit drops 1.3% on input costs” »

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MRF Limited reported a consolidated total income of ₹8,610.56 crore for the quarter ended June 30, 2026, up from ₹7,804.23 crore in the corresponding quarter last year. Revenue from operations grew 9.7% year-on-year and 4.8% over the previous quarter.

However, consolidated net profit came in at ₹495.35 crore, down 1.3% from ₹501.82 crore a year earlier, and down 29.5% from ₹702.25 crore in the preceding quarter ended March 2026. Consolidated profit before tax stood at ₹649.69 crore, compared with ₹671.83 crore in the year-ago quarter.

In a press release, the company said it delivered a resilient operating performance in the quarter on the back of good demand for its products. Demand from OE manufacturers was buoyant as vehicle sales across segments witnessed strong growth, while replacement sales also remained healthy. However, higher input costs impacted profitability during the quarter.

MRF said it had taken price increases and cost management measures during the quarter, which helped partially offset the rise in costs. The company added that raw material prices continue to remain firm due to the ongoing conflict in the Middle East, and that the impact of higher costs on margins is expected to continue.



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U.S. strikes Iran and Bahrain; warns of incoming fire as clashes over shipping routes escalate https://artifex.news/article71261425-ece/ Fri, 24 Jul 2026 09:52:00 +0000 https://artifex.news/article71261425-ece/ Read More “U.S. strikes Iran and Bahrain; warns of incoming fire as clashes over shipping routes escalate” »

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“Four people were killed and five wounded in a U.S. missile attack on the outskirts of Ahvaz on the Karun River,” Iranian State media said.
| Photo Credit: Reuters

Bahrain activated its sirens early Friday (July 24, 2026), warning residents to shelter from detected fire hours after the U.S. military said it had wrapped up its 13th night of strikes against Iran.

The Gulf States have come under frequent fire over the past week as the U.S. and Iran exchange escalating strikes in fighting that began with a struggle over control of the strategic Strait of Hormuz. Iranian State media reported that four people had been killed and nine injured in the bombardment. The previous day, Yemen’s Iran-backed Houthi rebels said they targeted two Saudi oil tankers in the Red Sea, potentially widening the Iran war as international oil topped $100 a barrel.

Also read: West Asia war LIVE updates

U.S. Central Command said the latest barrage was designed to “further degrade Iran’s ability to threaten civilian mariners and commercial vessels transiting regional waters” as the Americans push to regain control over the Strait of Hormuz, through which a fifth of the world’s oil and gas transited in peacetime. It said the strikes ended shortly before 5 a.m. local time Friday (July 24, 2026).

Prime Minister Ali al-Zaidi of Iraq, who has close ties to both the U.S. and Iran, was in Tehran on Thursday (July 23, 2026) to call for peace and dialogue. “He promised not to allow Iraqi territory to be used for attacks on Iran,” his office said. Mr. Al-Zaidi met with Mr. Trump earlier this month in Washington.

U.S. strikes sites across Iran

“Four people were killed and five wounded in a U.S. missile attack on the outskirts of Ahvaz on the Karun River,” Iranian State media said. An attack in Lorestan province in Western Iran injured two, State media said, while two more were injured by explosions in the port city of Bandar Abbas, a critical hub for moving military supplies as well as trade cargo.

Blasts were also reported on Iran’s Qeshm Island, home to stores of naval assets including drone boats that Iran can use to attack vessels on the Strait of Hormuz, as well as in Isfahan province, where there is a major Iranian air base as well as one of Iran’s nuclear sites. More strikes reportedly hit Iran’s southwest Khuzestan province and southern Fars province.

Meanwhile, the Houthis threatened to shut down another key trade route with the world economy already reeling from Iran’s closure of the Strait of Hormuz.

The Bab el-Mandeb Strait at the southern tip of the Arabian Peninsula, is a vital shipping chokepoint connecting the Red Sea to the Gulf of Aden. Around 12% of the world’s trade, including a fourth of global container traffic, passes through there, moving between Europe and Asia via Egypt’s Suez Canal.

The Houthi attacks put at risk oil shipments from Saudi Arabia’s Yanbu port on the Red Sea and present a “double whammy” on top of the disruption in the Strait of Hormuz, said maritime data and analysis firm Lloyd’s List Intelligence. Saudi Arabia has diverted millions of barrels a day of oil exports to Yanbu via an overland pipeline as the war has bottled up the Persian Gulf.

President Donald Trump threatened “major military punishment” against the Houthis if their attacks on ships continue. As the rhetoric escalated, so did economic fallout. The price of Brent crude oil, the international standard, spiked more than 6% to about $100 a barrel. That’s the highest level since May, before the two sides reached a preliminary peace agreement last month that has since collapsed.

Both sides dig in over Strait of Hormuz

Iran says it has the right to manage traffic and potentially charge fees in the Strait of Hormuz, which was open to all toll-free before the war. It has attacked ships using a route through the strait that is overseen by U.S. forces and intended to be outside Tehran’s control.

Mr. Trump said on social media Thursday (July 23, 2026) that sanctioned Iranian funds in the possession of the U.S. will cover the expense of fixing boats damaged in the war. “Please let this statement serve to represent, until further notice, that from this point forth, any and all damages done to Ships, Cargo, or anything related thereto, will be paid for by Iranian Money that the United States has in its possession, and controls,” Mr. Trump said.

It was unclear what legal mechanisms Mr. Trump would use to access and spend the funds, but he said that doing so would be “the fair and equitable thing to do.” Iran’s Foreign Minister Abbas Araghchi condemned the suggestion, writing on X that “once governments normalize confiscation, no one’s assets are safe. Ensuing chaos will not be pretty or peaceful.”



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Stock markets drop in early trade on escalating U.S.-Iran tensions, rising oil prices https://artifex.news/article71087661-ece/ Thu, 11 Jun 2026 05:27:00 +0000 https://artifex.news/article71087661-ece/ Read More “Stock markets drop in early trade on escalating U.S.-Iran tensions, rising oil prices” »

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The 30-share BSE Sensex declined 358.54 points to 73,624.64 in early trade. The 50-share NSE Nifty dropped 117 points to 23,098.30. Representational file image.
| Photo Credit: Reuters

Stock market benchmark indices Sensex and Nifty declined in early deals on Thursday (June 11, 2026), tracking weak trends in global equities and rising crude oil prices amid escalating tensions between the U.S. and Iran.

Also read: West Asia war updates on June 11, 2026

Unabated foreign fund outflows and a spike in U.S. inflation also dented markets’ sentiment, according to market analysts.

The 30-share BSE Sensex declined 358.54 points to 73,624.64 in early trade. The 50-share NSE Nifty dropped 117 points to 23,098.30.

From the 30-Sensex firms, HCL Tech, Infosys, Tech Mahindra, Tata Consultancy Services, Eternal and Trent were among the laggards.

Power Grid, ICICI Bank, Bharti Airtel and InterGlobe Aviation were among the winners.

Brent crude, the global oil benchmark, traded 1.70% higher at $94.68 per barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,124.98 crore on Wednesday (June 10, 2026), according to exchange data.

“Fresh military action by the United States against Iranian targets has reignited concerns over the stability of the Middle East, raising fears that recent diplomatic efforts may be losing momentum and increasing the risk of a broader regional conflict,” Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.

Adding to the cautious mood, the latest U.S. inflation data, while broadly in line with market expectations, showed consumer prices rising to their highest level in three years, he added.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index were quoted lower.

U.S. markets ended significantly lower on Wednesday (June 10, 2026).

“Wall Street witnessed a sharp correction overnight, with the Dow Jones falling over 950 points. The weakness was broad-based as investors moved away from risk assets amid fears that escalating geopolitical tensions could disrupt energy markets and keep inflationary pressures elevated,” Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.

Asian markets are reflecting a similar sentiment this morning, he said.

“For Indian markets, the biggest concern remains crude oil. Rising oil prices not only threaten India’s inflation trajectory but also add pressure on the fiscal balance, corporate margins and the rupee,” Hariprasad added.

On Wednesday (June 10, 2026), the Sensex trimmed most of its intraday gains during the fag-end of trading and settled 64.42 points, or 0.09%, higher at 73,983.18. The Nifty, however, dipped 27.15 points, or 0.12%, to end at 23,214.95.



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At least 63 injured, one killed in Iran’s attack on Kuwait: Health Ministry https://artifex.news/article71056844-ece/ Wed, 03 Jun 2026 12:08:00 +0000 https://artifex.news/article71056844-ece/ Read More “At least 63 injured, one killed in Iran’s attack on Kuwait: Health Ministry” »

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People run amid smoke from a fire, in the aftermath of Iranian strikes, according to the Foreign Ministry, at Kuwait International Airport in Kuwait City, Kuwait on June 3, 2026.
| Photo Credit: Reuters

At ‌least 63 ​people ⁠were injured ‌in Iran’s attack ‌on ‌Kuwait ⁠on ⁠Wednesday (June 3, 2026) including ​airport ‌workers and passengers, the Health ‌Ministry ​said.

Kuwait’s Foreign ⁠Ministry said ‌one person was killed ‌in ​the Iranian attack.



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Pezeshkian says Iran will halt strikes on neighbours; Trump vows to hit harder https://artifex.news/article70716631-ece/ Sat, 07 Mar 2026 18:17:00 +0000 https://artifex.news/article70716631-ece/ Read More “Pezeshkian says Iran will halt strikes on neighbours; Trump vows to hit harder” »

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Expressing regret for the damage caused by Iran’s strikes against its neighbours, Iranian President Masoud Pezeshkian said on Saturday (March 7, 2026) that Tehran would no longer target these countries unless attacks originated from their territory. However, he vowed that Iran would not surrender in its war against the United States and Israel, even as U.S. President Donald Trump threatened to intensify strikes.

As the war entered its eighth day, Israel and the U.S. carried out strikes across Iran, particularly targeting the country’s Air Force, while Tehran fired at least eight missile salvos at Israel since midnight. Several Arab countries were targeted in drone and missile attacks despite Mr. Pezeshkian’s remarks.

Also Read: Israel-Iran war LIVE Updates on March 7, 2026

“Iran has never planned, nor will ever plan, an invasion of any neighbour,” Mr. Pezeshkian said in a televised address. “We have repeatedly said that they are our brothers. We aim to work hand-in-hand with our dear brothers and neighbours in the region to establish lasting peace and stability,” he noted.

He said that Tehran’s interim leadership council has decided that neighbouring countries would not be targeted “unless those countries launch an attack on us,” state media reported. He also said Iran “regretted” any damages caused to non-military assets hit by Iranian strikes.

‘No surrender’

On Friday (March 6), Mr. Trump ruled out a deal with Iran’s leadership and demanded “unconditional surrender”. Mr. Pezeshkian insisted this would never happen. “The enemies will take the dream of Iran’s surrender to their grave,” he said, as per a translation of the speech in the State media.

Later, the Iranian President wrote a series of social media posts defending Iran’s military response. “We stand firm to the last breath in defence of our country and resist. Iran’s defensive operations are exclusively against targets and facilities that are the origin and source of aggressive actions against the Iranian nation, and we consider them legitimate targets,” he said.

Iran’s Khatam al-Anbiya army headquarters said in a statement that Tehran respects the sovereignty of neighbouring countries and has not carried out any act of aggression against them. “However, all military bases and interests belonging to the criminal United States and the Israeli regime on land, at sea, and in the air across the region will be considered legitimate targets of powerful strikes by Iran’s Armed Forces,” it added.

‘Loser of the Middle East’

On Saturday (March 7), Mr. Trump claimed that Iran was “being beaten to hell” and had “surrendered” and promised not to attack its neighbours. “This promise was only made because of the relentless U.S. and Israeli attack. They were looking to take over and rule the Middle East. It is the first time that Iran has ever lost, in thousands of years, to surrounding Middle Eastern Countries. Iran is no longer the ‘Bully of the Middle East,’ they are, instead, ‘THE LOSER OF THE MIDDLE EAST’,” he wrote in a social media post. “Today Iran will be hit very hard,” he added.

The U.S. Central Command said that U.S. forces have struck over 3,000 targets in the first week of Operation Epic Fury, adding that “we are not slowing down”.

Continuing strikes

Neither side signalled any sign of de-escalation, even as attacks and counter-attacks continued throughout the day. The Israeli Defence Forces claimed to have destroyed at least 16 Quds Force planes in strikes. Iran fired waves of missiles targeting central Israel, but Israel has reported that there were no injuries.

An Iranian Army spokesperson said on Saturday (March 7), “220 American soldiers and commanders have been killed or wounded and significant damage has been inflicted on American assets in the region in retaliatory attacks by the Iranian Armed Forces over the past 24 hours.” The Revolutionary Guards also said they had targeted a Marshal Islands-flagged oil tanker in the Persian Gulf waters.

Iran’s Foreign Minister Abbas Araghchi accused the U.S. of attacking a freshwater desalination plant on Qeshm Island. “Water supply in 30 villages has been impacted. Attacking Iran’s infrastructure is a dangerous move with grave consequences. The U.S. set this precedent, not Iran,” he wrote on X.

Dubai’s main airport was forced to briefly close on Saturday (March 7) as Iran again launched missiles and drones at targets across the Gulf. Attacks were reported on Saturday (March 7) in the UAE, Saudi Arabia, Qatar, and Kuwait, where the national oil company announced a “precautionary” cut to production. The UAE said it had been targeted with 16 ballistic missiles and more than 120 drones.

Published – March 07, 2026 11:45 pm IST



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Drones hit fuel tank at Oman port: State media https://artifex.news/article70698772-ece/ Tue, 03 Mar 2026 09:46:00 +0000 https://artifex.news/article70698772-ece/ Read More “Drones hit fuel tank at Oman port: State media” »

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Image used for representational purposes. File
| Photo Credit: AP

Drones targeted an Omani port on Tuesday (March 3, 2026), hitting a fuel tank, state media said, as Iran presses its campaign against the Gulf in response to U.S. and Israeli strikes.

“A security source reported that fuel tanks at the commercial port of Duqm were targeted by several drones, one of which hit a fuel tank. The resulting damage was contained without any human casualties,” the Oman News Agency said.

The attack is the second on the port in three days, as Iran broadens its targets in the Gulf. Oman, which played a mediation role in talks between the U.S. and Iran, has called for a ceasefire in the war.

On Sunday(March 1, 2026), a worker was injured when two drones struck the same port. One hit accommodation for workers, while debris from the other landed near fuel tanks, the Oman News Agency said.

They were the first attacks on the sultanate since war broke out, with Oman facing strikes despite acting as a mediator between Iran and the United States just days before the conflict. On Monday (March 2), one person was killed in an attack on an oil tanker off the coast of the capital Muscat that caused an explosion and fire, authorities said. The blast in the vessel’s main engine room killed one crew member, an Indian national.



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Israeli military chief resigns over October 7 ‘failure’ https://artifex.news/article69125065-ece/ Tue, 21 Jan 2025 17:41:40 +0000 https://artifex.news/article69125065-ece/ Read More “Israeli military chief resigns over October 7 ‘failure’” »

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The head of Israel’s military, Lieutenant General Herzi Halevi, resigned on Tuesday over his responsibility for its “failure” during the Palestinian militant group Hamas’s attack on October 7, 2023. File
| Photo Credit: AFP

The head of Israel’s military, Lieutenant General Herzi Halevi, resigned on Tuesday over his responsibility for its “failure” during the Palestinian militant group Hamas’s attack on October 7, 2023.

In his resignation letter, released by the army, Halevi said he was leaving “due to my acknowledgement of responsibility for the (military’s) failure on October 7”.

He said he was leaving at a time of “significant successes” for the military, though he also said that “not all” of Israel’s war goals had been met.

“The objectives of the war have not all been achieved. The army will continue to fight to further dismantle Hamas and its governing capabilities, ensure the return of the hostages”, and enable Israelis displaced by militant attacks to return home, he said.

Israeli opposition leader Yair Lapid praised Halevi for stepping down and called on Prime Minister Benjamin Netanyahu to follow suit.

“Now, it is time for them to take responsibility and resign — the prime minister and his entire catastrophic government.”

Major General Yaron Finkelman, the head of Israel’s southern military command, which is responsible for Gaza, also resigned.

The pair’s resignation comes days into a ceasefire with Hamas that brought to a halt 15 months of war sparked by the deadliest attack in Israel’s history.

Halevi requested to leave his role on March 6, saying “until then, I will complete the inquiries into the events of October 7 and strengthen the (military’s) readiness”.

On October 7, 2023 thousands of Palestinian fighters stormed into southern Israel from Gaza.

Their attack resulted in the deaths of 1,210 people, mostly civilians, according to an AFP tally of official Israeli figures.

They also took 251 hostages into Gaza, including women, children and elderly people.

Gaza was heavily surveilled at the time of the attack and surrounded by a high-tech border fence complete with sensors and remote-operated machine guns.

The militants were able, despite Israel’s state-of-the-art defences, to storm a major military base as well as residential communities across the south and a music festival, where they committed atrocities.

It took the military three days to completely clear the militants from Israeli territory.



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Assad Loses Another Syrian City, Rebels March Towards Damascus: 10 Facts https://artifex.news/syria-bashar-al-assad-syria-war-as-rebels-advance-bashar-al-assad-loses-another-key-syrian-city-10-facts-7192239/ Sat, 07 Dec 2024 05:38:29 +0000 https://artifex.news/syria-bashar-al-assad-syria-war-as-rebels-advance-bashar-al-assad-loses-another-key-syrian-city-10-facts-7192239/ Read More “Assad Loses Another Syrian City, Rebels March Towards Damascus: 10 Facts” »

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New Delhi:

In another setback to President Bashar al-Assad’s hold on power, the Syrian government forces have lost control of Daraa city, widely regarded as the birthplace of Syria’s 2011 civil uprising.

Here Are 10 Points On this Big Story:

  1. In 2011, Daraa city, located roughly 100 km from capital Damascus, became the epicentre of nationwide protests after the Assad government detained and allegedly tortured a group of boys for scrawling anti-regime graffiti. What began as peaceful demonstrations soon spiralled into a violent conflict that has since seen over 500,000 dead and millions displaced.
  2. According to the UK-based Syrian Observatory for Human Rights, opposition forces now control over 90 per cent of Daraa province, with regime forces retreating in successive waves. 
  3. Daraa’s fall follows the swift loss of Aleppo, Syria’s second-largest city, and Hama in the country’s central region. These major victories have emboldened rebels to push south toward Homs, Syria’s third-largest city, and even closer to Damascus, the seat of Assad’s power. 
  4. The rebel coalition spearheading this offensive is led by Hayat Tahrir al-Sham (HTS), a group with origins in Al-Qaeda. Though designated a terrorist organisation by Western governments, HTS leader Abu Mohammed al-Jolani said in an interview that the group’s primary goal remains the overthrow of Assad.
  5. In the country’s east, government forces vacated Deir Ezzor, ceding territory to Kurdish-led Syrian Democratic Forces (SDF) backed by the United States. The withdrawal appears sudden, with troops reportedly regrouping in Palmyra, a key junction on the road to Homs. 
  6. Airstrikes by Syrian and Russian aircraft have sought to slow the rebel advance, but observers note that these efforts have been relatively limited, likely reflecting Russia’s stretched military commitments elsewhere, particularly in Ukraine.
  7. Jordan has closed its border crossings with Syria, while Lebanon has imposed restrictions on land crossings. Israel, which occupies the Golan Heights, announced reinforcements to its aerial and ground forces. Turkey, which has supported elements of the Syrian opposition, expressed a mix of approval and caution over the rebel advance. 
  8. The Centre has issued an advisory to completely “avoid all travel to Syria until further notice”. Indians currently in Syria have been advised to “remain in touch with the Indian Embassy in Damascus”.
  9. According to the New York Times, Iran is evacuating its military personnel and military officials from Syria into Iraq and Lebanon. Iranian civilians in Syria are also reportedly evacuating thanks to heightened hostility towards the Iranian regime for its continued support of al-Assad. 
  10. Over 280,000 people have been displaced since the offensive began, according to UN estimates. In Homs, which has endured some of the conflict’s deadliest violence, tens of thousands of residents, particularly from Assad’s Alawite minority, are fleeing in anticipation of the rebels’ arrival. 



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India Sends 30 Tonnes Of Essential Medical Supplies To Palestine https://artifex.news/india-sends-30-tonnes-of-essential-medical-supplies-to-palestine-6898230rand29/ Tue, 29 Oct 2024 07:02:18 +0000 https://artifex.news/india-sends-30-tonnes-of-essential-medical-supplies-to-palestine-6898230rand29/ Read More “India Sends 30 Tonnes Of Essential Medical Supplies To Palestine” »

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New Delhi:

Indian government reaffirmed its commitment to supporting the people of Palestine with a recent shipment of 30 tonnes of medical supplies amid the ongoing conflict in the Middle East.
This consignment includes essential medicines and anti-cancer drugs.

Ministry of External Affairs spokesperson Randhitr Jaiswal shared a post on X and stated, “India’s support to the people of Palestine continues. Extending humanitarian assistance to the people of Palestine sends 30 tonnes of medical supplies comprising essential life-saving and anti-cancer drugs to Palestine.”

Last week, India sent its first tranche of assistance for the people of Palestine through UNRWA, which includes 30 tonnes of medicine and food items.

“India sends humanitarian assistance for the people of Palestine through the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA),” Mr Jaiswal said on X.

“The first tranche of assistance, comprising 30 tons of medicine and food items has departed today. The consignment includes a wide range of essential medicines and surgical supplies, dental products, general medical items and high-energy biscuits,” the post added.

Notably, India has long supported a two-state solution to the Israel-Palestine conflict. PM Modi was one of the first global leaders to condemn the horrific terror attack on Israel by Hamas on October 7 and repeatedly expressed concerns over the deteriorating situation in Gaza.

India also sent humanitarian aid to the people of Gaza as part of its commitment. In July, India released the first installment of 2.5 million dollars to the United Nations Relief and Works Agency, UNRWA, for Palestine refugees for the year 2024-25.

Last month, UNRWA said people in Gaza are living in “inhumane” conditions.

The agency said on the social media platform X that piles of waste are accumulating in central Gaza, while sewage water is leaking into the streets.

“Families have no choice but to live next to this accumulated waste, exposing them to foul odours and the imminent risk of a health disaster,” the UNWRA added. The UN agency called for an immediate ceasefire.

Meanwhile, Israel’s parliament has passed a law banning the UN agency for Palestinian refugees (UNRWA), a move branded “outrageous” by the humanitarian organisation, Al Jazeera reported.

The ban will significantly restrict UNRWA’s activities across occupied East Jerusalem and the occupied West Bank.

The move comes as the 24-day Israeli siege of northern Gaza has killed more than 1,000 Palestinians, destroying neighbourhoods and wiping out entire families.






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Saudi ‘Davos In The Desert’ Opens Amid Conflict In Middle East https://artifex.news/future-investment-initiative-saudi-davos-in-the-desert-opens-amid-conflict-in-middle-east-6897995/ Tue, 29 Oct 2024 05:56:32 +0000 https://artifex.news/future-investment-initiative-saudi-davos-in-the-desert-opens-amid-conflict-in-middle-east-6897995/ Read More “Saudi ‘Davos In The Desert’ Opens Amid Conflict In Middle East” »

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Riyadh:

Global business leaders meet in Saudi Arabia on Tuesday for a glitzy investor forum as conflict shakes the region and scepticism mounts over the Gulf kingdom’s most ambitious development projects. The Future Investment Initiative (FII) debuted in 2017 as a showcase for de facto ruler Crown Prince Mohammed bin Salman’s dream of diversifying the economy of the world’s largest crude exporter away from oil.

This year’s three-day event is expected to draw more than 7,000 delegates including TikTok CEO Shou Zi Chew and the chief executives of Citigroup and Goldman Sachs.

For the second year in a row, conflict in the Middle East is likely to shape panel discussions and side meetings.

Last year’s FII took place just weeks after Hamas’s unprecedented attack on southern Israel triggered the war in Gaza, with high-level speakers warning about economic turmoil should the fighting draw in other countries.

A year later those fears have been realised, as Israel presses operations against Hezbollah in Lebanon and carries out tit-for-tat strikes with Iran.

“I suspect attendees will reflect seriously on the grinding nature of the Israel-Gaza war, a new invasion in Lebanon, and ongoing concerns over region-wide conflict escalations,” said Robert Mogielnicki of the Arab Gulf States Institute in Washington.

“The Saudis have been effective in shielding their country from the worst effects of regional conflict for now, but it’s very difficult to find a silver lining in this manner of conflict raging across the Middle East region.”

FII Institute CEO Richard Attias told a press conference in Riyadh this month that the gathering is not meant to focus on “politics” and should instead tackle big-picture investments “to build a better world”.

“We are an independent platform and we don’t want to be, forgive me for the word, polluted by any political events,” said Attias, former producer of the World Economic Forum in Davos, Switzerland.

“I am curating events for 35 years now, and I learned one thing: The show must go on.”

‘Doubters beware’

This year’s FII, sometimes referred to as “Davos in the Desert”, also comes as Saudi officials try to demonstrate progress on signature elements of Prince Mohammed’s Vision 2030 reform agenda.

Authorities have reportedly scaled back 2030 size and population targets for NEOM, a planned futuristic megacity in northwest Saudi Arabia meant to feature a ski resort and twin skyscrapers 170 kilometres (105 miles) long.

On Sunday, NEOM announced the opening of its “first physical showcase”, a luxury Red Sea island known as Sindalah featuring restaurants, hotels and yachting berths.

“There was so much scepticism over NEOM in the Western media that the Saudis had to do something to demonstrate their commitment,” said Jim Krane of Rice University’s Baker Institute.

“The early opening at NEOM is probably designed to embarrass the naysayers by telling the world that Saudi Arabia is moving ahead. It’s a ‘doubters beware’ message.”

Saudi Finance Minister Mohammed al-Jadaan said in May that “shocks” including the war in Gaza were prompting officials to “reprioritise” some aspects of Vision 2030.

At a briefing with journalists in December last year, Jadaan said officials had decided to push the timeframe for some major projects past 2030, though he did not provide details and also noted that others would be accelerated.

Saudi Arabia has enacted a series of oil cuts since 2022 in a bid to hike prices and is currently producing around nine million barrels per day, well below its declared capacity of 12 million bpd.

Last month the finance ministry said it anticipated a budget deficit of 2.3 percent of GDP in 2025, citing increased government spending and lower oil revenues.

Additional spending commitments meanwhile continue to pile up for events such as Expo 2030 and the 2034 World Cup, for which Saudi Arabia is the sole bidder.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)




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