Host Saudi warns of economic fallout from Gaza war at global summit

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Host Saudi warns of economic fallout from Gaza war at global summit
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RIYADH—Saudi Arabia on Sunday called for regional “stability”, warning of the effects of the ongoing Israel-Hamas war on global economic sentiment at the start of a summit attended by a host of Gaza mediators.

The attack resulted in the deaths of about 1,170 people, mostly civilians, according to an AFP tally of Israeli official figures. “We meet at a moment when one misjudgment or one miscalculation or one miscommunication will further exacerbate our challenges.”WEF president Borge Brende told Saturday’s press conference 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”.

From the outset Saudi Arabia has worked with other regional and global powers to try to contain the war in Gaza and avoid the type of conflagration that could derail its ambitious economic reform agenda known as Vision 2030.The kingdom also remains in talks about a landmark deal under which it would recognize Israel for the first time while strengthening its security partnership with the United States.

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