International
FII 2025: Riyadh hosts global tech leaders as innovation takes centre stage
FII 2025: Riyadh hosts global tech leaders as innovation takes centre stage
RIYADH — The ninth edition of the Future Investment Initiative (FII) has kicked off in the Saudi capital, marking what organisers describe as a “turning point” in global innovation, with technology leaders making up more than half of the speakers at the high-profile event.
Speaking to CNBC, Richard Attias, chairman of the FII Institute’s executive committee, said this year’s conference reflects a major shift as industries worldwide grapple with the transformative impact of artificial intelligence and emerging technologies.
“FII9 is a turning point,” Attias said. “This year, 52 percent of our speakers are coming from the tech industry. It shows the importance of AI and innovation in general, because all sectors are now impacted by technology.”
Launched in 2017, the Future Investment Initiative—often dubbed “Davos in the Desert”—has become a flagship platform for Saudi Arabia to showcase its economic diversification efforts under Vision 2030. The 2025 edition, which runs from October 27 to 30, brings together global policymakers, investors, and corporate executives to discuss economic trends and forge partnerships across emerging sectors.
Attias highlighted three key features of this year’s gathering: the dominance of technology, the presence of over 20 world leaders and 50 ministers from 90 countries, and the event’s growing reputation as a hub for inclusive international collaboration.
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“This will be a fantastic platform for public-private partnership,” he said, adding that such cooperation is vital to addressing global economic challenges.
He described FII as “probably the most inclusive platform in the world,” citing the participation of delegates from rival nations such as Russia and Ukraine, alongside representatives from the United States, China, the Global South, and a strong contingent of young entrepreneurs.
“Riyadh is becoming the economic capital of the world, at least for the week,” Attias remarked, noting that the conference has expanded into a full week of activities, with delegates arriving early to explore opportunities within the Kingdom.
He said the scale of engagement is a “good problem to have,” but acknowledged the need for strategic coordination to manage the numerous meetings and sectors represented.
Attias also pointed to the progress of Vision 2030, describing it as a plan “in motion” that now encompasses sectors such as sports, entertainment, food security, tourism, energy, and infrastructure.
He stressed that FII has evolved beyond ceremonial agreements, stating: “Real deals are happening. Very concrete deals are signed.”
The spirit of optimism, he said, is rooted in the institute’s resilience, recalling that FII was among the few global conferences held during the COVID-19 pandemic in 2020. This, he noted, reflects the institute’s mission to create “impact on humanity.”
This year’s event has drawn 9,000 delegates from nearly 100 countries, including representatives from all Gulf Cooperation Council sovereign wealth funds. Attias said the convergence of these funds with private equity firms, banks, and global CEOs creates the “perfect equation” for driving investment and collaboration on a global scale.
FII 2025: Riyadh hosts global tech leaders as innovation takes centre stage
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International
Job Seeker Steals Bugatti CEO’s £2m Car After Finding Keys Inside
A man who reportedly visited the headquarters of luxury car manufacturer Bugatti in search of employment allegedly drove away in the company chief executive’s £2 million sports car after discovering that its keys had been left inside.
The incident involved Mate Rimac, the Croatian businessman and chief executive of Bugatti, whose personal Bugatti Chiron was stolen from the company’s production and technology campus near Zagreb, Croatia.
The suspect, a Croatian man in his mid-30s, reportedly entered the facility looking for a job before spotting the high-performance vehicle with its keys inside and driving away.
Rimac disclosed the incident in a series of posts on Instagram, explaining that he had routinely left the keys inside his vehicles because he considered Croatia a safe place.
He admitted that the habit had continued for years without any incident until the Chiron disappeared.
The theft was discovered after an employee alerted colleagues that an unfamiliar person had driven away in the expensive vehicle.
Rimac immediately contacted the police and used the car’s built-in tracking and telemetry system to monitor its movements.
The tracking technology provided information about the vehicle’s location, speed and fuel level, allowing the Bugatti team to follow its journey and share updates with law enforcement officers.
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After discovering that the stolen vehicle was heading towards Slovenia, Rimac jumped into a Porsche 911 and pursued it.
The pursuit continued across borders, with the Chiron eventually reaching Austria. Rimac and his team maintained communication with the police through a group chat, providing updates that helped Austrian officers locate and intercept the vehicle.
The suspect was subsequently arrested in Austria, where Rimac later met him at a police station.
According to the Bugatti boss, the man explained that he had initially visited the company’s premises to seek employment but decided to take the car after noticing that its keys were inside.
Rimac said he was not planning to press charges against the suspect. However, he acknowledged that the man could still face prosecution because of the high value of the stolen vehicle.
The CEO also revealed that he had considered giving the suspect a lift home to his family but police officers did not allow him to do so.
The recovered Chiron sustained some damage during the incident, although Rimac said it could be repaired.
The businessman thanked the Austrian police for their intervention, saying he was relieved that nobody was injured during the incident.
He also admitted that the experience had taught him an expensive lesson, promising never again to leave the keys inside his vehicles.
The Bugatti Chiron, unveiled in 2016, is one of the world’s most powerful luxury hypercars. The model has a starting price of about €2.4 million, equivalent to approximately £2 million, and a manufacturer-limited top speed of 420 kilometres per hour.
Bugatti operates under Bugatti Rimac, a joint venture in which Rimac Group holds a majority stake.
The unusual theft has attracted international attention because of the vehicle’s value, the suspect’s reported reason for visiting the facility and the extraordinary cross-border pursuit involving the Bugatti chief executive.
Job Seeker Steals Bugatti CEO’s £2m Car After Finding Keys Inside
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International
Netanyahu Faces Political Setback as Israeli President Picks Rival to Form Government
Netanyahu Faces Political Setback as Israeli President Picks Rival to Form Government
Israeli President Isaac Herzog has given opposition leader and former military chief Gadi Eisenkot the first opportunity to form the country’s next government, dealing Prime Minister Benjamin Netanyahu a major political setback after a closely contested general election.
Herzog announced his decision on Saturday, November 7, 2026, following consultations with political parties elected to the 26th Knesset, Israel’s parliament.
Eisenkot, leader of the Yashar party, emerged with the highest number of recommendations from lawmakers, receiving the backing of representatives from factions controlling 67 seats, compared with 46 seats for Netanyahu. Representatives of another faction controlling seven seats did not recommend either candidate.
The decision followed the October 27 general election, which left neither Netanyahu’s governing bloc nor the opposition grouping with the 61 seats required for a parliamentary majority in the 120-member Knesset.
Netanyahu’s religious-nationalist coalition secured 53 seats, while the four-party opposition alliance led by Eisenkot won 48. The two Arab-led parties made significant gains, securing a combined 19 seats, placing them in a potentially decisive position in negotiations over the next government.
Eisenkot is expected to receive the formal mandate from Herzog at a ceremony at the President’s Residence in Jerusalem on Sunday, November 8.
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Under the Israeli government-formation process, he will have 28 days to negotiate a coalition, with the possibility of a further 14-day extension.
The former military chief will face difficult negotiations because his opposition alliance does not have enough seats to govern independently. Although the Arab-led parties have endorsed him, Eisenkot has previously expressed reservations about forming a coalition with them.
One possible route is to establish a minority government with support from Arab-led lawmakers on confidence votes and key legislation. Another option would involve reaching an agreement with ultra-Orthodox parties that have traditionally aligned with Netanyahu.
However, both options could create tensions within Eisenkot’s own political alliance, particularly among members who oppose relying on Arab parties or making concessions to religious parties.
A broader national unity government involving Netanyahu’s Likud party is another possibility, although the two leaders have significant disagreements over key political and security issues.
Eisenkot has previously ruled out serving in a government alongside Netanyahu, while criticising the prime minister’s handling of the war in Gaza and his reliance on far-right political partners.
Netanyahu, Israel’s longest-serving prime minister, had sought to prevent an opposition-led government from emerging with the support of Arab-led parties.
Shortly before Herzog announced his decision, Netanyahu called for a national unity government and warned against the formation of an administration dependent on what he described as supporters of terrorism, referring to the Arab-led parties.
His comments drew criticism from Eisenkot’s political camp, which accused the prime minister of using divisive language to undermine the opposition’s efforts to form a government.
The Arab-led parties, which represent a significant section of Israel’s Palestinian citizens, have indicated their willingness to support efforts to end Netanyahu’s long tenure in office.
Their combined 19 seats could provide Eisenkot with the parliamentary backing needed to overcome the deadlock, although securing a workable arrangement remains uncertain.
Eisenkot, 66, served as chief of staff of the Israel Defence Forces from 2015 to 2019 before entering politics in 2022. He later served as an observer in Netanyahu’s wartime cabinet following the Hamas-led attacks on Israel on October 7, 2023.
He subsequently became one of Netanyahu’s most prominent critics, particularly over the conduct of the war in Gaza, the government’s security decisions and the influence of far-right politicians.
If Eisenkot fails to form a government within the stipulated period, Herzog may give another candidate the opportunity to try. If the process remains unsuccessful, Israel could be forced into another general election.
Netanyahu will remain prime minister in a caretaker capacity until a new government is sworn in.
Herzog’s decision therefore represents an important development in Israel’s political transition, but the final outcome will depend on whether Eisenkot can overcome divisions among opposition parties and secure sufficient parliamentary support.
Netanyahu Faces Political Setback as Israeli President Picks Rival to Form Government
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International
White House Reaffirms US Policy Recognising Only Two Genders
The White House has reaffirmed the United States government’s policy recognising only two sexes, male and female, under President Donald Trump’s administration.
The administration restated its position in a message published on its official X account on Friday, November 6, 2026, declaring that the United States government officially recognises only two genders.
“It is the official policy of the United States government that there are only two genders: male & female,” the White House stated.
The latest declaration reinforces Trump’s position on gender identity and his administration’s efforts to make biological sex the basis for federal government policies, official documents and administrative procedures.
Trump formally established the policy on January 20, 2025, through an executive order titled Defending Women From Gender Ideology Extremism and Restoring Biological Truth to the Federal Government.
Under Section Two of the executive order, the President declared that it was the policy of the United States to recognise two sexes, male and female.
The directive defined sex as an individual’s unchangeable biological classification as either male or female, distinguishing it from gender identity.
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It also instructed federal agencies to adopt the definitions when interpreting and implementing federal laws, regulations and government policies.
Among other measures, the executive order directed government agencies to review and remove official statements, policies, regulations and communications considered inconsistent with the administration’s position.
It further required federal agencies to ensure that official forms requesting information about an individual’s sex provided only male and female options.
The policy marked a significant departure from measures introduced under former President Joe Biden, whose administration expanded federal recognition of gender identity in several areas of government operations.
In 2022, the Biden administration introduced an X gender marker option on US passports, allowing applicants who did not identify as male or female to select the alternative designation.
Trump’s executive order sought to reverse such measures and restore biological sex as the basis for federal government recognition.
The administration has maintained that the policy is intended to protect sex-based rights and ensure consistency in the interpretation of federal laws.
However, the policy has generated considerable debate over transgender rights, gender identity, discrimination and the legal recognition of transgender and non-binary people in the United States.
The White House’s latest declaration did not announce a new executive order or additional regulatory measures but reaffirmed the administration’s existing position on an issue that continues to attract political, legal and social debate.
White House Reaffirms US Policy Recognising Only Two Genders
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