黑料社区

How 黑料社区 is reshaping the global talent landscape

How 黑料社区 is reshaping the global talent landscape
As 黑料社区 aims to become a global hub for business, technology, and culture through Vision 2030, the ongoing influx of international talent will play a crucial role in driving economic growth and fostering innovation. (SPA)
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Updated 03 May 2025

How 黑料社区 is reshaping the global talent landscape

How 黑料社区 is reshaping the global talent landscape
  • The influx of international talent is vital for advancing key sectors such as healthcare, tourism, and renewable energy

RIYADH:聽In the field of attracting global talent, 黑料社区 stands out as a hub of innovation and opportunity, recruiting skilled professionals from all over the world to drive growth in key sectors including technology, finance, and manufacturing.

With a strong focus on talent development and labor market improvements, initiatives such as the Premium Residency program represent an important step in transforming the Kingdom鈥檚 workforce.

More than 2,600 healthcare workers became beneficiaries of this scheme, dubbed the Saudi Green Card, in October 鈥 a clear sign that the Kingdom is proactively working to secure international talent within the country鈥檚 borders

How Saudi Green Card is reshaping landscape for global talent attraction in 黑料社区

Launched in 2021, the Premium Residency program offers long-term residency to skilled workers, entrepreneurs, and investors to create a more competitive environment for top professionals.

It offers expats access to benefits available to Saudi nationals, including the ability to own property, start businesses, and make use of public services.聽

Raymond Khoury, partner and public sector practice lead, at Arthur D. Little, Middle East, believes the program will positively impact key sectors by attracting the talent聽 needed to service the growing population 鈥 set to rise from 34.4 million today to 55 million by 2030.

鈥淪uch incentives allow skilled professionals to have a more stable personal life environment with their families and the facility to make long-term investments in their careers 鈥 a better work-life balance in general,鈥 Khoury told Arab News.

The Arthur D. Little partner went on to note that attracting skilled professionals in sectors like healthcare, technology, tourism, and renewable energy will help diversify 黑料社区鈥檚 economy, reduce oil dependency, and boost gross domestic product through innovation and strategic partnerships in non-oil industries.

鈥淭he program also facilitates international professionals in academia and research, allowing for stronger collaborations between universities and private institutions in 黑料社区 and their international counterparts,鈥 he said.

Khoury added that while the initiative does face challenges, such as the time it takes for international talent to adapt to local cultural and legal norms, these can be mitigated by providing clear integration pathways and support for newcomers.聽

The international talent infusion not only accelerates progress within key sectors but also drives cultural and intellectual exchange, fostering long-term growth and innovation.

Raymond Khoury, Partner and public sector practice lead at Arthur D. Little, Middle East

While 黑料社区 has this program, its Gulf Cooperation Council neighbors, such as UAE and Qatar, have their own talent attraction schemes in place, meaning there is competition for skilled professionals, Khoury explained. Abhishek Sharma, partner at Oliver Wyman鈥檚 Government and Public Institutions practice for India, Middle East and Africa, said the Kingdom鈥檚 Premium Residency program is transforming the expatriate model by attracting highly skilled professionals.

鈥淕iven the Kingdom鈥檚 large-scale economic ambitions and the significant opportunities emerging across various sectors, these factors collectively position 黑料社区 as an increasingly attractive destination for global talent,鈥 Sharma told Arab News.

The Saudi Green Card is improving talent mobility especially in technology, by allowing professionals to work and live without a sponsor, he added.聽

This supports Vision 2030鈥檚 goal of making 黑料社区 an innovation hub, and boosts technological growth in sectors like artificial intelligence and digital transformation, according to Mamdouh Al-Doubayan, managing director of Middle East and North Africa at Globant.

鈥淗owever, while attracting global talent is crucial, sustainable growth depends on balancing international expertise with local knowledge development. The real opportunity lies not just in recruitment but in fostering a dynamic, homegrown workforce capable of driving long-term digital adoption,鈥 Al-Doubayan told Arab News.

International talent influx聽

The influx of international talent is vital for advancing key sectors in 黑料社区, such as technology, healthcare, tourism, and renewable energy 鈥 all of which support Vision 2030鈥檚 goal of reducing oil dependence and fostering a sustainable, knowledge-based economy.

Khoury believes innovation and technology advancement across core and adjacent sectors is critical in creating innovation hubs and driving the digital transformation of industries.

鈥淭his also covers supporting technology research, development and innovation startups and an encompassing ecosystem that fosters knowledge transfer and international collaboration,鈥 he said.

Healthcare was raised as an area where attracting skilled medical professionals 鈥 doctors, nurses, and researchers 鈥 can effectively and efficiently improve patient outcomes, introduce advanced medical practices, and lead groundbreaking research.聽

By incentivizing industries that rely on highly skilled professionals, 黑料社区 can accelerate sectoral growth and enhance its overall economic contribution.

Abhishek Sharma, Partner at Oliver Wyman鈥檚 Government and Public Institutions practice

鈥淓stablishing the Kingdom as an attractive medical tourist destination is part and parcel of some mega-projects 鈥 for example the Red Sea project 鈥 today under Vision 2030,鈥 Khoury said.

The Arthur D. Little partner also highlighted that improving the education sector in 黑料社区 is essential for building a knowledge-based economy, particularly in STEM fields.

Attracting international talent in tourism, hospitality management, event planning and arts development is key for 黑料社区, particularly for destinations such as Qiddiya and the Red Sea project, where the target is to attract and service between 60 million and 70 million visitors per year by 2030.

鈥淪uch a large target requires domain knowledge of global trends and international best practices, which international talent can bring in a timely manner,鈥 Khoury said.

He also flagged the need for international expertise in green technologies as being crucial for 黑料社区鈥檚 Vision 2030, especially in renewable energy. Global partnerships and innovative solutions will aid in achieving net-zero emissions, optimizing energy efficiency, and creating sustainable business models.

鈥淭he international talent infusion therefore not only accelerates progress within key sectors but also drives cultural and intellectual exchange, fostering long-term growth and innovation for the Kingdom,鈥 Khoury said.

Knowledge economy

From Oliver Wyman鈥檚 side, Sharma explained that human capital is a key driver of economic growth, with skilled professionals fostering expansion, which in turn attracts more talent. 黑料社区 is set to experience this positive cycle over the next seven to 10 years.

鈥淎s the Kingdom advances toward its Vision 2030 goals, transitioning to a knowledge-based economy, improving the overall quality, skill level, and productivity of the workforce will be critical. By incentivizing industries that rely on highly skilled professionals 鈥 such as professional services, technology, and advanced manufacturing 鈥 黑料社区 can accelerate sectoral growth and enhance its overall economic contribution,鈥 he said.聽

While attracting global talent is crucial, sustainable growth depends on balancing international expertise with local knowledge development.

Mamdouh Al-Doubayan, Managing director of Middle East and North Africa at Globant

According to Al-Doubayan from Globant, international talent is crucial to the Kingdom鈥檚 shift toward a knowledge-based economy, bringing specialized skills and innovative approaches, particularly in technology.聽

Collaborating with local professionals drives progress, supports Vision 2030鈥檚 goals of economic diversification, and enhances competitiveness in a digital, AI-driven world.

鈥淏y integrating global expertise with local capabilities, 黑料社区 is not only strengthening its workforce but also creating an environment where homegrown talent can thrive. The impact goes beyond immediate job creation 鈥 it builds a long-term, self-sustaining innovation ecosystem that reduces reliance on traditional industries and positions the Kingdom as a leader in digital transformation,鈥 he said.

Future strategies聽

As 黑料社区 aims to become a global hub for business, technology, and culture through Vision 2030, the ongoing influx of international talent will play a crucial role in driving economic growth and fostering innovation.

Arthur D. Little鈥檚 Khoury believes that enhancing immigration policies, including expanding programs like the Saudi Green Card, could see tailored benefits being offered to professionals in sectors such as renewable energy, AI, and biotech, as well as healthcare and fintech, providing long-term opportunities.

He explained that availing and advancing innovation hubs and ecosystems in support of attracting and retaining tech entrepreneurs, researchers, and innovators, is vital, as is offering them not only business opportunities but also a platform to collaborate with global experts in their fields.聽

鈥淭his is a key focus of the Saudi Research Development and Innovation Authority in its aim to bolster RDI capabilities and create a compelling environment for leading scientists, engineers, and researchers,鈥 Khoury said.

He added that the government is boosting investments in incubators, accelerators, and venture capital to support local and international startups, aiming to create a diverse innovation ecosystem and foster new tech-driven industries.

Additionally, the partner explained how the Kingdom鈥檚 investment in education and upskilling initiatives to build a knowledge-based economy, focusing on attracting international students and researchers while pairing global talent with local professionals, will enhance expertise.

鈥淗aving a skilled and diverse workforce will better enable 黑料社区 to effectively compete on the international stage and attract more high-value investments that will spur further economic development and prosperity,鈥 Khoury said.

Oliver Wyman鈥檚 Sharma highlighted attracting top talent is key to the Kingdom鈥檚 goal of becoming a global leader in AI.

He said that a parallel strategy of aggressively upskilling the local workforce will be 鈥渆qually critical鈥 in sustaining long-term economic and innovation-driven growth.

Al-Doubayan from Globant explained with growing demand for skilled professionals in technology, entertainment, and sustainability, organizations must offer not just jobs but upskilling, career development, and innovation-driven environments to position the Kingdom as a long-term career destination.

He said: 鈥淭he increasing integration of AI across industries is intensifying competition for top talent. Organizations now face a paradigm shift: moving from simply retaining talent to empowering professionals to grow, innovate, and remain engaged within the Kingdom鈥檚 evolving workforce. The key challenge is no longer just recruitment 鈥 it is creating an environment where individuals choose to stay despite global demand for elite professionals.鈥


Arab Energy Organization firms post record $280m profit in 2024聽

Arab Energy Organization firms post record $280m profit in 2024聽
Updated 16 sec ago

Arab Energy Organization firms post record $280m profit in 2024聽

Arab Energy Organization firms post record $280m profit in 2024聽

JEDDAH: Arab energy companies posted record net profits of over $280 million in 2024 鈥 their highest ever 鈥 driven by strong business volumes and strategic initiatives, according to the Arab Energy Organization. 

The achievement reflects the resilience of Arab energy firms amid volatile markets and follows efforts to modernize operations and strengthen coordination across member states, said Secretary-General Jamal Al-Loughani during the opening of the organization鈥檚 54th Annual Coordinating Meeting. 

He stressed the importance of providing necessary support to foster growth, enhance prosperity, and achieve their founding objectives, the Kuwait News Agency, or KUNA, reported. 

鈥淎l-Loughani underscored the need to build on previous meetings and their positive outcomes, moving toward a new phase that opens avenues for cooperation among affiliated companies and with national companies of a similar nature and activity in member states,鈥 KUNA reported. 

The official commended the companies鈥 efforts, describing them as a catalyst for deeper Arab cooperation.  He highlighted their 鈥減ivotal and constructive role鈥 in fostering collaboration and creating opportunities to strengthen the petroleum industry across member states, despite challenges arising from regional and global market conditions. 

Al-Loughani also highlighted the 鈥渃ontinuous and constructive鈥 communication maintained between the General Secretariat and the affiliated firms through designated liaison officers, KUNA reported. 

During the meeting, representatives of the organization鈥檚 affiliated companies reviewed major activities for 2024 and the first half of 2025, including commercial and technical operations, financial results, human resources activities, and training programs.  

They also presented several plans and projects aimed at enhancing performance, adapting to current market fluctuations, and maximizing revenue. 

The meeting was attended by representatives of the Arab Shipbuilding and Repair Yard Co., or ASRY, the Arab Energy Fund, the Arab Petroleum Services Co., the Arab Drilling and Workover Co., and the Arab Well Logging and Well Services Co. 

The Arab Energy Organization, formerly known as the Organization of Arab Petroleum Exporting Countries, was restructured and renamed in December 2024 following a Saudi-led proposal to broaden its mandate beyond oil to cover the wider energy sector. 

黑料社区鈥檚 ACWA Power, a major renewable energy firm and one of the region鈥檚 key players, reported a 2024 net profit of SR1.75 billion ($466 million), up 5.7 percent year on year, underscoring the Arab energy sector鈥檚 gradual shift toward sustainable growth. 


Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽

Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽
Updated 09 October 2025

Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽

Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽

RIYADH: Saudi Aramco completed the acquisition of an additional 22.5 percent stake in Rabigh Refining and Petrochemical Co., known as Petro Rabigh, from Japan鈥檚 Sumitomo Chemical Corp. for $702 million.  

The acquisition, valued at SR7 ($1.87) per share, raises Aramco鈥檚 total ownership to 60 percent and makes it the largest shareholder, while Sumitomo retains 15 percent, the company said in a press release.

The transaction, first announced in August 2024, includes a $1.4 billion capital injection jointly provided by Aramco and Sumitomo to partly prepay Petro Rabigh鈥檚 debt and bolster its balance sheet.

The acquisition marks a significant step in Aramco鈥檚 ongoing strategy to expand its integrated refining, chemicals, and marketing operations.

Hussain Al-Qahtani, Aramco senior vice president of fuels, said: 鈥淧etro Rabigh is a key player in the Kingdom鈥檚 downstream sector and this additional investment by Aramco reflects strong belief in its long-term prospects. It also underscores Aramco鈥檚 focus on downstream expansion and value creation.鈥

He added: 鈥淲e look forward to exploring closer integration with Petro Rabigh, with the aim of unlocking new opportunities and complementing Petro Rabigh鈥檚 broader transformation objectives, which include upgrading its product mix, enhancing asset reliability and optimizing operations.鈥 

The company said the deal underscores its commitment to value creation, business integration, and portfolio diversification across the downstream sector.

It also enhances Aramco鈥檚 capacity to support Petro Rabigh鈥檚 transformation program, which targets operational upgrades, improved yields of high-margin products, and greater plant reliability. 

The Petro Rabigh deal follows a series of acquisitions underscoring Aramco鈥檚 strategy to expand its downstream and international footprint. In 2025, the company acquired a 50 percent stake in Blue Hydrogen Industrial Gases Co. to strengthen its position in low-carbon hydrogen production. 

Late last year, Aramco purchased a 10 percent stake in Horse Powertrain Ltd., advancing its presence in hybrid and internal combustion powertrain technologies, and completed the full acquisition of Chile鈥檚 Esmax Distribucion SpA 鈥 its first downstream retail investment in South America. 

As part of the August 2024 deal, the funding will be executed through Class B shares, fully subscribed by both shareholders, allowing Petro Rabigh to receive new capital without altering its governance framework or diluting other shareholders鈥 voting rights. 

Aramco and Sumitomo also waived $1.5 billion in shareholder loans in two stages 鈥 August 2024 and January 2025 鈥 improving Petro Rabigh鈥檚 capital structure and remediating accumulated losses.

The waiver improves the company鈥檚 capital structure and helps remediate accumulated losses, providing a stronger foundation for future growth.

As of 12:08 p.m. 黑料社区 time, Aramco鈥檚 share on the Saudi Exchange gained 0.38 percent to reach SR92.95, while Petro Rabigh鈥檚 shares rose 1.82 percent to SR7.84. 


Global sukuk surpasses $1tn amid strong Q3 issuance: Fitch聽

Global sukuk surpasses $1tn amid strong Q3 issuance: Fitch聽
Updated 09 October 2025

Global sukuk surpasses $1tn amid strong Q3 issuance: Fitch聽

Global sukuk surpasses $1tn amid strong Q3 issuance: Fitch聽

RIYADH: Global sukuk outstanding crossed $1 trillion by the end of the third quarter of 2025, representing a 15.5 percent year-on-year increase, driven by steady Islamic investor demand and issuers鈥 diversification needs, said Fitch Ratings. 

In its latest dashboard, the credit rating agency revealed core markets issued about $80 billion of sukuk in the third quarter of 2025, making it the most active third quarter on record. 

The surge occurred despite challenges including new Shariah requirements, geopolitical events in the Middle East, summer holidays, trade war uncertainties, and volatility in interest, foreign exchange, and commodity markets. 

Bashar Al-Natoor, global head of Islamic Finance at Fitch Ratings, said: 鈥淕lobal sukuk issuance is likely to surpass 2024 this year due to lower rates, steady Islamic investor demand and issuers鈥 funding and diversification needs, with 2026 prospects being promising.鈥 

He added: 鈥淩isks persist from new Shariah requirements, geopolitics and market volatility, but fundamentals are solid.鈥 

Sukuk, also known as Islamic bonds, are Shariah-compliant debt products that allow investors to gain partial ownership of an issuer鈥檚 assets until maturity. 

Al-Natoor noted that 80 percent of Fitch-rated sukuk are investment grade, with no defaults or fallen angels reported in the third quarter. 

The report also highlighted that bond issuance in core markets declined by 17.6 percent compared with the previous quarter. 

Sukuk continues to rise in significance in emerging markets, with a growing share of outstanding debt capital markets in the Gulf Cooperation Council region at 40 percent and across the Association of Southeast Asian Nations at 16 percent. 

The agency further said that sukuk accounted for over 35 percent of total debt capital market issuances in core markets including the GCC, Malaysia, and Indonesia, as well as Turkiye, and Pakistan. 

In a report released in August, the agency said the value of sukuk rated by Fitch Ratings exceeded $210 billion in the first half of 2025, a 16 percent increase from a year earlier, as demand for Shariah-compliant debt continues to accelerate across global markets. 

The US dollar remained the dominant issuance currency, accounting for over 90 percent of rated sukuk, followed by the Malaysian ringgit at 6.2 percent. 

The steady momentum of global sukuk markets underscores the expansion of debt markets in countries like 黑料社区, where domestic and international investors seek diversification and stable returns. 

黑料社区 accounted for 18.9 percent of the $250 billion US dollar debt issuance in emerging markets excluding China during the first half of 2025, slightly higher than the 18.5 percent recorded during the first five months of 2024, when total issuance reached $200 billion. 

Fitch said 黑料社区 was followed by Brazil at 10.6 percent and the UAE at 8.7 percent of total issuances in the period. 


Saudi industrial output rises 7.1% in August on manufacturing, mining boost

Saudi industrial output rises 7.1% in August on manufacturing, mining boost
Updated 09 October 2025

Saudi industrial output rises 7.1% in August on manufacturing, mining boost

Saudi industrial output rises 7.1% in August on manufacturing, mining boost

RIYADH: 黑料社区鈥檚 industrial output climbed 7.1 percent year on year in August, driven by strong gains in the manufacturing and mining sectors, official data showed. 

According to preliminary figures from the General Authority for Statistics, the Kingdom鈥檚 Industrial Production Index rose to 114.2 during the month, reflecting a 1.42 percent increase from July. 

Manufacturing activities increased by 5.6 percent year on year in August, primarily propelled by an 8.9 percent rise in the production of coke and petroleum products.  

Mining and quarrying output advanced 8.1 percent, supported by higher oil production, which averaged 9.72 million barrels per day, up from 8.99 million bpd a year earlier. 

Strengthening the manufacturing sector is a key objective under 黑料社区鈥檚 Vision 2030 agenda, as the Kingdom continues to diversify its economy and reduce dependence on crude revenues. 

鈥淧reliminary results indicate a 7.1 percent increase in the Industrial Production Index in August 2025 compared to the same month of the previous year,鈥 said GASTAT. 

The authority attributed this growth to rises in key sectors, including mining and quarrying, manufacturing, and electricity, gas, and water supply activities. 

The manufacture of chemicals and chemical products also rose 8.6 percent compared with August 2024. 

On a month-to-month basis, the manufacturing sub-index advanced 0.3 percent, driven by a 0.4 percent increase in the production of coke and refined petroleum products. 

Compared to July, mining and manufacturing activities rose 2.1 percent in August.  

GASTAT reported that electricity, gas, steam, and air conditioning supply activities recorded an annual increase of 8.7 percent, while water supply, sewerage, waste management, and remediation operations rose 6 percent. 

In August, oil-related activities expanded 8.3 percent year on year and 1.7 percent month on month, while non-oil activities grew 4.4 percent annually and 0.7 percent from the previous month 鈥 underscoring 黑料社区鈥檚 ongoing efforts to diversify its industrial base under Vision 2030. 

In a separate report released in September, GASTAT said 黑料社区鈥檚 real gross domestic product grew 3.9 percent in the second quarter, fueled by robust non-oil activity that extended its growth streak to 18 consecutive quarters. 


Closing Bell: Saudi main index slips to close at 11,559聽

Closing Bell: Saudi main index slips to close at 11,559聽
Updated 08 October 2025

Closing Bell: Saudi main index slips to close at 11,559聽

Closing Bell: Saudi main index slips to close at 11,559聽

RIYADH: 黑料社区鈥檚 Tadawul All Share Index ended lower on Wednesday, falling 23.96 points, or 0.21 percent, to close at 11,559.27.  

The total trading turnover for the main index stood at SR7.62 billion ($2.03 billion), with 619.4 million shares traded. A total of 60 stocks advanced, while 191 declined.  

The MT30 Index, which tracks the top 30 companies by market capitalization, also slipped 1.75 points, or 0.12 percent, to 1,507.62.   

In contrast, the Nomu parallel market gained 172.63 points, or 0.68 percent, to close at 25,693.25, with 47 gainers and 41 losers.  

Saudi Paper Manufacturing Co. was the day鈥檚 best performer, climbing 3.03 percent to SR59.60. It was followed by Naqi Water Co., which rose 2.71 percent to SR56.95, and Al Babtain Power and Telecommunication Co., which increased 2.50 percent to SR61.50.  

Middle East Pharmaceutical Industries Co. gained 2.13 percent to SR134, while Naseej International Trading Co. advanced 2.03 percent to SR90.30.  

On the downside, Chubb Arabia Cooperative Insurance Co. recorded the sharpest fall, slipping 3.87 percent to SR39.70. Saudi Printing and Packaging Co. dropped 3.66 percent to SR10.79, while Emaar the Economic City fell 3.55 percent to SR13.30.   

Saudi Reinsurance Co. decreased 3.05 percent to SR49.98, and Gulf General Cooperative Insurance Co. shed 3.02 percent to SR5.13.  

On the announcement front, Rabigh Refining and Petrochemical Co. announced developments regarding the binding share sale and purchase agreement between Saudi Aramco and Sumitomo Chemical Co. Ltd.   

The company said the agreement involves the transfer of marketing rights for products currently held by Sumitomo and its affiliates to Saudi Aramco and its subsidiaries.   

The company confirmed that it has entered into related agreements to finalize the amendments required under the 鈥淥mnibus Amendment Agreement.鈥  

Petro Rabigh shares closed 0.26 percent lower at SR7.70.  

Meanwhile, Saudi Vitrified Clay Pipes Co. said that the Saudi Authority for Industrial Cities and Technology Zones approved a waiver of the lease agreement to Al-Muthahidah Al-Manaqiyah Industries Co., making its SR45 million factory sale binding.  

The financial impact will be reflected in the third quarter of 2025, the company said. 

SVCP shares closed 0.86 percent lower at SR27.76.  

In addition, Thimar Advertising, Public Relations and Marketing Co. announced filing a legal lawsuit before the Securities Disputes Resolution Committee against Middle East Financial Investment Co., the manager of the Saudi Film Fund, in connection with a previously signed SR37.5 million investment agreement.   

The company said the disputed amount remains recorded as a debit balance and will be reclassified once a ruling is issued.  

Thimar Advertising鈥檚 shares closed 0.69 percent lower at SR15.82.