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Saudi Arabia is hosting its first ever major defense show as industry giants from around the world assemble in Riyadh to display the latest in military tech -- and pitch for lucrative opportunities as Saudi Arabia seeks to localize much of its defense industry production.

Air pollution is costing the Middle East and North Africa (MENA) region countries as much as 2% of total economic output per year, a World Bank report said, which said that MENA nations should curb fossil-fuel subsidies, provide cleaner transport and create markets for emissions.

Elm, a digital security firm owned by Saudi Arabia’s Public Investment Fund, drew $57 billion in orders for its IPO from institutional investors, according to Bloomberg, in what appears to be the latest evidence that the appetite for middle east stocks continues to run strong.

The global Islamic funds market has grown by more than 300% over the last decade to nearly reach $200 billion in assets under management, according to a new report from the Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI) as reported in Reuters.