Attacks on Riyadh’s King Khalid International Airport, attributed to Iran-backed Houthi forces, killed at least 13 people and injured more than 300. Major companies including BP and Shell have withdrawn their executives from upcoming events in Saudi Arabia due to security concerns. Market participants are now considering a potential temporary closure of Saudi airspace, with probabilities rising to 19.5% by January 2027. These developments pose significant challenges to the kingdom’s efforts to attract international investment and diversify its economy.
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