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  • HR Ministry: 45% increase in wages of Saudis working in private sector

    The Ministry of Human Resources and Social Development noted that the wages of Saudis working in the private sector increased by 45 percent during the year 2024. Efforts to empower women had a significant impact on enhancing their economic participation, as their participation rate in the labor market increased to 35.8 percent, exceeding the targets of Vision 2030, and the percentage of women in middle and senior management positions increased to 43 percent. There has been an increase in the number of Saudis working in the private sector reaching 2.4 million male and female employees. This include 361,000 Saudis entering the labor market for the first time. The private sector contributed 50.5 percent to the employment of citizens.

  • Saudi Arabia announces prequalified bidders for 2 GW/8 GWh battery storage tender

    The Saudi Power Procurement Company (SPPC) has released a list of 33 prequalified bidders for its 2 GW/8 GWh battery energy storage system (BESS) tender. The tender, structured as a build-own-operate model, attracted major international players including Masdar, ACWA Power, EDF, TotalEnergies, Jinko Power and more. Prominent companies from China, South Korea, and Japan also feature, including Samsung, the China Energy Overseas Investment Company, China Power Engineering Consulting Group International Engineering, and China Southern Power Grid International.

  • Assad’s fall spurs calls to revive Iraq-Syria oil pipeline

    The overthrow of the former Syrian president, Bashar Al-Assad, has brought calls for the revival of the now-defunct pipeline that once carried crude oil from Iraq to a Syrian port on the Mediterranean. Several Iraqi experts have urged their government to consider rebuilding the facility as an outlet for the Opec member’s oil exports to Europe.  An adviser to Iraq’s prime minister Mohammed Al-Sudani said there was a need for negotiations between the two Arab neighbours to set the groundwork for the pipeline’s resurrection. But other analysts disagreed with these calls, on the grounds that the situation in Syria is uncertain and Iraq’s oil exports to Europe have been falling in favour of Asian markets.

  • Saudi Arabia Records SAR 20.769 Billion Trade Surplus in October 2024 with 30% Growth

    Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion in October 2024, according to the Kingdom’s recently released global trade bulletin. This marks an increase of over SAR 4 billion from SAR 15.999 billion in September. The Kingdom's total international trade volume reached SAR 164.794 billion in October, reflecting a 2% growth (SAR 2.594 billion) compared to SAR 162.200 billion in September. Merchandise exports contributed SAR 92.782 billion to the total trade volume, while imports accounted for SAR 72.012 billion. Non-oil exports in October totaled approximately SAR 19.413 billion, representing 21% of total exports. Meanwhile, oil exports amounted to SAR 67.399 billion, constituting 72.6% of total exports, and re-exports totaled SAR 5.968 billion, making up 6.4%.

  • Gulf-UK trade deal has a sporting chance, minister says

    A finalised free trade agreement between the UK and Gulf Co-operation Council states could be on the home stretch, and the growing trade in sports equipment with the Gulf illustrates the need for it, a British trade minister has said. Trade policy minister Douglas Alexander highlighted the sports industry as “a great example of British expertise” and said “a trade deal with the GCC would build on our already strong trading relationship, make it easier and quicker for UK companies to export, and create exciting opportunities for UK businesses in the region”. The UK and the six-country Gulf bloc are thought to be closing to sealing an FTA, which could boost trade between the two sides by 16 per cent, potentially adding an extra £8.6 billion a year to the trade relationship in the long run.

  • How Stealthy F-22 Raptors Learned to Take on Elusive Iranian Threats in the Middle East

    As America’s premier air superiority fighter, the F-22 was designed to take on advanced enemy aircraft, capable of maneuvering stealthily and cruising at supersonic speeds. But the dangers that most concerned Johnson and his Airmen included Iranian-designed drones and cruise missiles that Tehran and its proxies have employed during the most recent stretch of unrest in the Middle East. Though the drones posed less of a threat to the F-22s than a high-end Chinese fighter, downing them presented some challenges. Like the F-16s and F-15Es, the F-22s that have been deployed to the region in recent months have Active Electronically Scanned Array (AESA) radars, which makes detecting drones easier, a senior U.S. defense official noted to Air & Space Forces Magazine. But it is still not an easy task. Not only were the drones very small, but their slow speed always made them hard to detect.

  • Israel allocates $150m to sway global opinion over Gaza genocide

    The 20-fold funding increase aims to boost Tel Aviv’s narrative and justification of its war against the besieged enclave while portraying the Palestinian struggle as “anti-Semitic” and as a form of “Nazi” terrorism aimed at eliminating Jews and to promote Islamophobia in European countries in an effort to paint the Palestinian struggle as no different from Daesh. The aim of such action is to end sympathy or support for the Palestinian cause and justify the genocide being orchestrated in Gaza.

  • Unstoppable Oman beat Saudi Arabia 2-1 to enter Gulf Cup final

    With temperatures at a chilly 18°C, the electrifying atmosphere was fueled by passionate supporters waving flags and chanting for their teams. Coach Rashid Jaber faced a daunting task, making last-minute changes due to injuries and yellow card suspensions. Still, his confidence in his squad proved well-placed as Oman battled fiercely from start to finish. The game started with Saudi Arabia in control, threading passes and creating early chances. Oman’s goalkeeper, Al Rushaidi, made a brilliant save from a stinging free-kick, keeping the scores level. Saudi’s dominance persisted through the opening minutes, with Oman struggling to find their rhythm.

  • GASTAT: Saudi Women’s Participation in the Labor Force Reaches 36.2%

    The General Authority for Statistics (GASTAT) released today the Labor Market Bulletin for the third quarter of 2024. Figures show that the unemployment rate among Saudis in Q3 of 2024 was 7.8%, an increase of 0.7 percentage points over Q2 of this same year, and a year-on-year decrease of 1 percentage point from Q3 2023. The bulletin also shows that the Saudi and non-Saudi labor force stood, in Q3 of this year, at 66.6%, a 0.4 percentage point increase over Q2 of 2024. Among Saudis, the labor force grew by 0.7 percentage points in Q3 2024, to reach 51.5%, marking a year-on-year increase of 0.7 percentage points. The employment-to-population ratio among Saudis went up by 0.2 percentage points, reaching 47.4%, or an annual growth of 1.1 percentage points. The bulletin also highlighted the growth of Saudi women's participation in the labor force, which increased by 0.8 percentage points, to 36.2%, in the mentioned period.

  • Saudi Arabia’s unemployment rate hits 3.7%: GASTAT

    Saudi Arabia’s unemployment rate dropped to 3.7 percent in the third quarter of 2024, down 0.5 percentage points from last year, official data showed. According to data released by the General Authority for Statistics, labor force participation across Saudis and non-Saudis reached 66.6 percent during the third quarter, reflecting a year-on-year increase of 0.2 percentage points and a quarterly rise of 0.4 percentage points. The unemployment rate increased by 0.4 percentage points compared to the second quarter of this year.