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- FII9 Day 2: Middle East is “the new Switzerland" & "World will Witness Syria's Rebirth"
FII9 Day 2: Middle East is “the new Switzerland" & "World will Witness Syria's Rebirth"
Thursday, October 30, 2025
Happy Thursday everyone!
Day 2 of the Future Investment Initiative (FII9) in Riyadh explored the convergence of artificial intelligence, capital, and global strategy — but the conversations went far beyond economics. FII Institute CEO Richard Attias told Smashi Business that “FII is not an event — it’s a movement,” uniting innovators to “impact humanity.” MSA Capital’s Ben Harburg called the Middle East “the new center of the world” as he bets big on Saudi football, while Syrian President Ahmed Al Sharaa pledged “reconstruction through investment, not aid,” marking a bold vision for the region’s future.
While the world look at Riyadh, NVIDIA Corporation — which collaborates closely with leading Gulf partners in Saudi Arabia, the UAE and Qatar — has become the first publicly-traded company in history to reach a US$5 trillion market-cap milestone.
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Markets
EGX 30 | 38,229.53 | 0.20% |
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ADX | 10,162.22 | -0.023% |
Tadawul | 11,752.08 | +0.67% |
At FII9, Richard Attias Declares “FII is a Movement” as Ben Harburg Bets on Saudi Football and Syria Pledges Rebirth
Day 2 of FII9 focused on the powerful intersection of artificial intelligence, capital, and global investment strategy. The morning opened with “Capital of AI” discussions on AI as a global resource, the creation of intelligence, and the infrastructure powering the AI economy. The agenda then moved through panels on patriotic capitalism, urban growth, sovereign wealth, and the energy trilemma. Afternoon sessions centered on AI investment, geopolitical resilience, and emerging sectors such as defense, sports, and tourism, before closing with talks on leadership under pressure and a key dialogue with Yasir Al-Rumayyan on sustainable global growth.
“FII is not an event — it’s a movement,” Richard Attias tells Smashi Business at FII9
In an exclusive interview with Smashi Business during Day 2 of the Future Investment Initiative (FII9) in Riyadh, Richard Attias, CEO of the FII Institute, emphasized that the initiative transcends traditional conference formats.
“FII is not an event — FII, as I always say, is a movement,” Attias stated. He described the gathering as “a platform which became a catalyst, a connector between people from all over the world to share their ideas, to share their solutions, to be a call to action.”
Highlighting the institute’s broader mission, he concluded, “We are really achieving something great to impact humanity — which is the philosophy and the mission of our FII Institute Foundation.”
“Middle East is the new center of the world” — Ben Harburg to Smashi Business as he bets big on Saudi football
Ben Harburg, Managing Partner at MSA Capital and a longtime investor in technology and emerging markets, recently became the new owner of Saudi football club Al Kholood FC. With nearly 20 years of experience investing across the Middle East, Harburg is known for bridging global capital with local opportunity — from deep tech and biotechnology to the fast-growing world of sports.
Discussing his investment philosophy with Smashi Business at FII9, Ben Harburg said his firm “invests in sports on the one hand, and technology companies on the other.” While his team has been investing in technology for over a decade, he noted that sports became a focus in the last five years, describing it as “an uncorrelated asset class — even if we have an economic downturn, people still want entertainment, escape, and community.”
On the global landscape, Harburg called the Middle East “the new Switzerland, the new center of the world,” highlighting Saudi Arabia’s “huge sense of optimism” and “progressive, open-for-business” environment.
Speaking about football ownership, he emphasized patience: “You can’t have a 10-year fund horizon; you need long-term capital.” He sees three revenue levers — “player trading, equity appreciation, and monetization through sponsorships and media” — with a growing focus on building a global digital fan base to boost Al Kholood’s value.
“The world witnessed Syria’s failure; now it will witness Syria’s rebirth,” Syrian President Ahmed Al Sharaa
Speaking on Day 2 of FII9 in Riyadh — in the presence of His Royal Highness Crown Prince Mohammed bin Salman — Syrian President Ahmed Al Sharaa highlighted the Kingdom’s pivotal regional role and Syria’s ambition to rebuild through investment, not aid.
He began by commending Saudi Arabia’s leadership, saying, “Saudi Arabia in this region is of great importance… it is the destination of economy.” He noted that under Vision 2030, the Kingdom has become “a main driver in the region in terms of economy, security, and stability.”
Reflecting on Syria’s past turmoil, Al Sharaa admitted, “The world has witnessed the failure of Syria in the last 60 years,”but stressed that the country is now “opening its doors to the world” and repositioning itself as a trade corridor between East and West. Within 10 months, he said, “we have received investments of more than $22 billion,” highlighting reforms that made Syria’s investment law “one of the best 10 in the world.”
Rejecting foreign aid, he declared, “We chose reconstruction through investment — not through help. Teach me how to fish, not how to eat fish.” Al Sharaa revealed that Saudi, Qatari, Emirati, and Turkish companies have already begun projects worth billions, particularly in real estate and logistics.
He outlined Syria’s diverse economic potential — agriculture capable of feeding “up to 300 million people,” oil and gas reserves, and strategic geographic location — calling it “a historic opportunity for investors.”
Concluding on a hopeful note, Al Sharaa said, “I bet on my people… the people who won from nothing are capable of rebuilding from nothing.” He expressed his lifelong commitment to seeing Syria “strong again,” praising Saudi Arabia’s vision as “not limited to its borders, but extending to the whole region.”
Binance Blockchain Week 2025 to Return to Dubai with Star-Studded Web3 Lineup
Binance, is set to host its flagship event, Binance Blockchain Week, at the Coca-Cola Arena in Dubai on December 3rd and 4th.
The 2025 edition will unite leading voices from the global Web3 and blockchain ecosystem, celebrating milestones and exploring the next phase of the industry’s evolution. The conference promises an impressive lineup of keynote speakers, covering exchanges, smart contracts, education, investment, and regulation, reflecting Binance’s growing global influence.
Confirmed speakers include Michael Saylor, Executive Chairman of Strategy, making his first UAE crypto appearance; Brad Garlinghouse, CEO of Ripple; Lily Liu, President of the Solana Foundation; Raoul Pal, Co-Founder and CEO of Real Vision; and CZ, Founder of Giggle Academy, BNB Chain, and Co-Founder of Binance and many more. In addition to the esteemed lineup, Binance Blockchain Week will also feature key leaders from Binance, including Yi He, Co-Founder; Richard Teng, Chief Executive Officer; Rachel Conlan, Chief Marketing Officer; and Catherine Chen, Head of Binance VIP & Institutional.”
Binance Blockchain Week represents the pinnacle of the brand’s 1,500 global events, bringing together opinion leaders, builders, regulators, and community members to shape the future of Web3. Returning to Dubai for a second year, the city continues to establish itself as a global hub for blockchain innovation, supported by a progressive regulatory landscape and thriving tech ecosystem.
🦄 World of Startups
Egyptian-Saudi AI solutions startup Velents closed a $1.5M funding round and launched the first fully integrated Arabic-speaking AI employee, Agent.sa.
Pakistani co-working startup COLABS to expand into Kingdom with flagship site in Riyadh.
UnifyApps Raises $50 million to scale enterprise AI Platform and expand Gulf presence.
1001 AI, a deep-tech startup dual-headquartered in London and Dubai and founded by Bilal Abu-Ghazaleh, has raised $9 million in a seed funding round with participation from Amjad Masad (Replit), Amira Sajwani (DAMAC), Khalid Bin Bader Al Saud (Saudi RA’ED Ventures), and Hisham Al-Falih (Lean Technologies).
The Canadian regulatory authorities granted Whish Money, Lebanon-based remittances and mobile wallet platform, financial services licenses to operate in Canada.
👨💻From Smashi Business’ Desk
Saudi delivery app Shgardi has shut down after five years in operation — a sign of how fierce the Kingdom’s delivery wars have become.
UAE Tycoon Al Habtoor Slams Israeli Minister Over Remark That Saudis Should ‘Keep Riding Camels in the Desert’
Pavel Durov’s tweet on the Louvre heist takes an unexpected turn, blending humor with sharp criticism of French security.
UAE’s Hadban Twins Among First 25 Creators Honoured With Instagram Rings in New York.
🔍In other news…
Emaar bets on India but remains cautious on China
Sheikh Mohammed launches AED100m project to boost non-profit sector in the UAE
Dubai’s Al-Futtaim to invest $2.7 billion in Saudi Arabia
Standard Chartered bets on affluent business to boost Middle East growth
Aldar feels the glow from Disneyland magic
UK finance minister praises GCC free trade talks
The Middle Eastern subsidiary of Crown Agents Bank (CAB), a British provider of cross-border payments, has received an in-principle approval from Abu Dhabi’s financial hub, the ADGM.
BlackRock’s Fink Sees Case for Crypto, Gold as ‘Assets of Fear’
Jumeirah Lakes Towers drains another lake for ‘community hub’
Sharjah reports sharp rise in foreign real estate investors
