Riyadh, Dubai Delay Finance Events as Iran War Disrupts Region

Article content(Bloomberg) — A growing number of state-backed conferences across key Middle Eastern hubs are being postponed as Iranian attacks on Gulf countries disrupt travel and raise security concerns. Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentSaudi Arabia’s Capital Markets Forum in Riyadh, an initiative aimed at deepening the kingdom’s capital markets, has been delayed by a year. Originally scheduled for April, the forum will now take place in March 2027, according to organizers. The kingdom hosted a forum in New York last month and similar events in Hong Kong as part of its broader push to position Riyadh as a global stock exchange.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThat came shortly after Dubai Financial Market postponed its own capital markets event, originally planned for May, to December this year. Both bourses have emerged as listing hubs since the pandemic, driven by government privatization programs and efforts to encourage private companies to go public, although share sale volumes had softened even before the war began.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThe debut edition of the region’s newest high-profile event, Dubai Future Finance Week, has also been pushed to November from May. Dubai’s answer to regional heavyweight conferences like Riyadh’s Future Investment Initiative, the event was unveiled last year and prominent global names were expected to attend.Article contentOrganizers of the Saudi event didn’t respond to a request for comment sent Friday, the start of the kingdom’s weekend, while representatives for DFM declined to comment. In response to Bloomberg News’ queries, the organizers of Dubai Future Finance Week said the event was moved to November to align with other international forums and local venue availability.Article contentGet the Mideast Money newsletter, a weekly look at the intersection of wealth and power in the region.Article contentArticle contentThe disruption extends beyond finance. Events such as TOKEN2049 Dubai, a major cryptocurrency conference, have been postponed, while others across sectors — from energy to marketing — have been delayed or canceled in recent weeks as flight disruptions and security concerns weigh on attendance.Article contentThat adds to the growing costs of the war for the oil-rich countries that have faced daily missile and drone attacks from Tehran for close to a month. Article contentThe events industry has become a key pillar of economic strategy for Gulf capitals, which are seeking to diversify away from oil by positioning themselves as global hubs for business, finance and tourism. Large-scale conferences play a critical role in attracting foreign investment, showcasing domestic reforms and boosting the domestic hospitality sector. Article contentThe industry’s importance is also reflected in capital markets activity. At least two events businesses linked to the region are exploring initial public offerings, including the organizer of the Future Investment Initiative, which draws Wall Street heavyweights to Riyadh each year, Bloomberg News has reported.Article contentThe FII’s Miami edition is taking place this week, featuring US President Donald Trump as a headline speaker, alongside prominent Gulf names including Yasir Al-Rumayyan, governor of Saudi Arabia’s Public Investment Fund.Article contentTrending Meet the Canadian e-bike maker who is redefining the factory floor Electric Vehicles Posthaste: Believe it or not but home prices rose in these 11 major Canadian cities News Markets could be making the wrong call on interest rates Investor Bank of Canada better at handling supply shocks after 'difficult' inflation lesson, says deputy Economy Dad won’t talk about estate planning. How can I avoid being blindsided? FP Answers Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Meet the Canadian e-bike maker who is redefining the factory floor Electric Vehicles Posthaste: Believe it or not but home prices rose in these 11 major Canadian cities News Markets could be making the wrong call on interest rates Investor Bank of Canada better at handling supply shocks after 'difficult' inflation lesson, says deputy Economy Dad won’t talk about estate planning. How can I avoid being blindsided? FP Answers