World Economic Forum meeting in Riyadh focuses on Israel-Hamas war

A two-day World Economic Forum special meeting kicks off in Riyadh, with a focus on the war between Israel and Hamas.

Israel is not participating in the event in the Saudi capital, attended by the American, French, German, Emirati, Saudi, Jordanian, Egyptian and Turkish foreign ministers.

Saudi Finance Minister Mohammed al-Jadaan says in a panel discussion that the war in Gaza, as well as the Ukraine conflict, puts “a lot of pressure” on the economic “mood.”

“I think cool-headed countries and leaders and people need to prevail,” he says. “The region needs stability.”

A Gaza-focused session on Monday is set to feature newly appointed Palestinian Prime Minister Mohammad Mustafa, Egyptian Prime Minister Mostafa Madbouly and Sigrid Kaag, the United Nations aid coordinator for the Gaza Strip.

On Saturday, Saudi planning minister Faisal Alibrahim said that the world is “walking a tightrope right now, trying to balance security and prosperity.”

“We meet at a moment when one misjudgment or one miscalculation or one miscommunication will further exacerbate our challenges.”

WEF president Borge Brende said there was “some new momentum now in the talks around the hostages, and also for… a possible way out of the impasse we are faced with in Gaza.”