Missiles disable airports, but Saudi financial credibility remains intact Economic statistics show that the Kingdom of Saudi Arabia has the ability to withstand emergencies Markets do not like surprises and the first half of October was full of unexpected events. Between October 6 and 12, Houthi missiles and drones attacked three airports in Saudi Arabia, including King Khalid International Airport in Riyadh, where Riyadh Air is based. At least 20 people were killed. Foreign airlines canceled flights, and an airspace risk assessment service provider advised airlines to completely avoid entering Saudi Arabian airspace. The "Future Investment Initiative" meeting, Riyadh's leading event for attracting global capital, has been postponed until next year. The price of Brent crude oil also rose to about $108 per barrel. The quick conclusion was that Saudi Arabia's plan to diversify its economy through the development of aviation, tourism and finance was blocked by geopolitical realities. But this conclusion is hasty. Investors who base their assessment only on damages incurred may ignore the most important factor that determines how long these damages will last: which side the law supports and whether the legal framework will be maintained. Read more view of Bashar Al Majid.

Missiles disable airports, but Saudi financial credibility remains intact Economic statistics show that the Kingdom of Saudi Arabia has the ability to withstand emergencies Markets do not like surprises and the first half of October was full of unexpected events. Between October 6 and 12, Houthi missiles and drones attacked three airports in Saudi Arabia, including King Khalid International Airport in Riyadh, where Riyadh Air is based. At least 20 people were killed. Foreign airlines canceled flights, and an airspace risk assessment service provider advised airlines to completely avoid entering Saudi Arabian airspace. The "Future Investment Initiative" meeting, Riyadh's leading event for attracting global capital, has been postponed until next year. The price of Brent crude oil also rose to about $108 per barrel. The quick conclusion was that Saudi Arabia's plan to diversify its economy through the development of aviation, tourism and finance was blocked by geopolitical realities. But this conclusion is hasty. Investors who base their assessment only on damages incurred may ignore the most important factor that determines how long these damages will last: which side the law supports and whether the legal framework will be maintained. Read more view of Bashar Al Majid.