Saudi Arabia reshapes workforce with surge in talent mobility solutions

Saudi Arabia reshapes workforce with surge in talent mobility solutions
Mobility providers are increasingly focusing on reskilling and internal progression that align employee growth with business and national objectives. (SPA)
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Updated 14 June 2025
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Saudi Arabia reshapes workforce with surge in talent mobility solutions

Saudi Arabia reshapes workforce with surge in talent mobility solutions
  • Talent mobility services are emerging as a pivotal force in reshaping Kingdom’s employment landscape

RIYADH: As Saudi Arabia pushes forward with its Vision 2030 transformation agenda, talent mobility services are emerging as a pivotal force in reshaping the Kingdom’s employment landscape — streamlining transitions, boosting retention, and aligning workforce development with national diversification goals.

From artificial intelligence-powered human resource platforms to targeted upskilling programs and strategic internal marketplaces, both private firms and public initiatives are facilitating dynamic career transitions. These interventions are not only transforming the experience of work in Saudi Arabia but also supporting businesses in building a more agile, tech-enabled, and future-ready workforce.

A shift toward internal agility

As the labor market evolves, the focus has moved from external recruitment to creating an internally sustainable talent ecosystem. According to Francesco Cotrone, partner at Arthur D. Little, providers are enabling this transformation by deploying tools such as internal job marketplaces, AI-driven role matching systems, and strategic workforce planning platforms.

“These technologies not only give employees visibility into internal opportunities but also match them to roles based on both current capabilities and future potential,” he said.

The result is a shift away from static, linear career paths toward more flexible, opportunity-rich trajectories. This is particularly critical in fast-growing sectors such as logistics, tourism, and ICT, where the ability to reskill and redeploy talent quickly has become a competitive differentiator.

Cotrone cited Taqat, a leading domestic talent mobility service provider, as a prime example. The company’s employee transition program assesses individual skills and delivers customized training to support career moves across industries.

“As it works to connect skilled workers with employers in high-demand sectors such as technology and healthcare, Taqat facilitates seamless transitions, enhances career opportunities, and addresses critical skill shortages in the evolving job market,” he added.

Navigating compliance and change

Saudi Arabia’s workforce is also being shaped by demographic and regulatory dynamics. Abeer Al-Husseini, partner at Fragomen, noted that by the end of 2024, the Kingdom’s foreign workforce had grown to over 13.6 million, marking a 13.3 percent year-on-year increase and a 33.4 percent jump since 2019.

“In this environment, mobility providers are essential in helping businesses navigate regulatory frameworks such as Saudization policies under the Nitaqat program, sector-specific quotas, and compliance obligations set by the Ministry of Human Resources and Social Development,” Al-Husseini said.

These services often manage interactions with multiple government platforms — such as Qiwa and GOSI — while enabling fast, compliant transitions across functions and sectors. This reduces administrative friction and helps ensure continuity amid shifting business conditions.

She emphasized that talent mobility providers not only facilitate expatriate integration but are also playing a vital role in embedding Saudi nationals into the private sector. By supporting strategic workforce planning and Saudization targets, these providers align with national human capital development priorities.

From recruitment to retention

Modern mobility is no longer just about hiring — it’s about mapping skills, identifying gaps, and supporting long-term workforce evolution. Faisal Al-Sarraj, KSA deputy country leader and consulting clients and markets leader at PwC Middle East, underscored the value of internal talent marketplaces — digital tools that align employee skills and interests with internal opportunities.

“As Saudi Arabia continues to advance under Vision 2030, organizations need to be proactive in building teams with the needed market skills. Talent mobility helps with this by upskilling and cross-training existing employees,” Al-Sarraj told Arab News.

He acknowledged that while external hiring remains necessary for certain critical roles, internal mobility is gaining ground as a strategy for boosting retention and responsiveness. 

Mobility providers are essential in helping businesses navigate regulatory frameworks, sector-specific quotas, and compliance obligations.

Abeer Al-Husseini, partner at Fragomen

“Providers also help organizations shift from reactive hiring to proactive workforce planning. By using advanced tools, they help companies forecast what skills will be needed in the future and develop strategies to reskill employees. Providers like Mercer, Adecco, Bayt, and Naseej are doing an excellent job in this space,” he said.

Serge Eid, a member of Bain & Co.’s Public Sector practice, noted that providers are extending their services beyond hiring logistics to include skilling initiatives and regional talent deployment — key factors for scaling in emerging sectors.

“This support has become increasingly critical as businesses look to scale quickly, pivot into new sectors, or access regional talent pools,” Eid said. “They also support Vision 2030’s broader push for a more dynamic and globally integrated labor market.”

AI and reskilling for career growth

Mobility providers are increasingly focusing on reskilling and internal progression through AI-driven tools that align employee growth with business and national objectives.

Cotrone highlighted the growing need for new roles such as AI specialists and data analysts, which are being addressed through targeted training programs. 

Importantly, these services enhance retention by making career development tangible.

Francesco Cotronei, partner at Arthur D. Little

“Importantly, these services enhance retention by making career development tangible. Companies that offer clear growth pathways, mentoring, and internal mobility opportunities are not only accelerating role fulfillment. They’re also building employee loyalty, engagement, and hence, retention,” he said.

Al-Husseini added that talent mobility providers help businesses reimagine career paths as technology and regulations evolve.

PwC’s Al-Sarraj cited platforms such as Pymetrics, Fuel50, and Cornerstone OnDemand that offer employees AI-powered tools to map career journeys and personalize upskilling efforts.

He referenced a recent collaboration between Education for Employment Saudi Arabia and Agility, which launched a program using AI tools to help young job seekers tailor their applications and navigate the job market. 

These efforts not only fill capability gaps but also signal long-term investment in people.

Serge Eid, member of Bain & Co.’s public sector practice

“This is a perfect example of how talent mobility can help not just in employee transitions but also in creating a workforce that’s future-ready,” Al-Sarraj noted.

Eid added that such investments in internal mobility signal long-term commitment to employee growth, improving loyalty and performance.

“These efforts not only fill capability gaps but also signal long-term investment in people, which in turn drives loyalty, higher engagement, and better performance,” he said.

Strategic drivers for 2025 and beyond

Looking ahead, talent mobility is poised to become a central driver of workforce strategy in Saudi Arabia. Cotrone expects key trends to include personalized, experience-rich career paths and an increasing demand for data analytics literacy.

“Talent mobility providers will increasingly act as strategic partners, helping organizations create adaptive, future-proof talent ecosystems,” he said.

He added: “Talent mobility will be recognized not just as a business advantage but as a profound national imperative. As organizations invest in intelligent, internally driven workforce systems, they will unlock new pathways for growth and ensure that Saudi talent remains competitive, empowered, and at the heart of the Kingdom’s cross-sectoral transformation journey.”

Al-Husseini projected that companies would require rapid, compliant deployment solutions as sectors like healthcare, tourism, and tech expand. At the same time, local workforce development will become a priority, with providers playing a key role in integrating Saudi talent through internal mobility frameworks and reskilling for leadership roles.

She also pointed to the rise of hybrid and remote work, particularly in sustainability-related “green jobs,” requiring providers to support flexible, compliant mobility strategies.

PwC’s Al-Sarraj emphasized the growing role of predictive workforce planning, enabled by real-time data analytics.

“The alignment between workforce mobility and national upskilling initiatives will also be a major trend,” he said. He highlighted initiatives like Wa3d, which aims to provide 3 million training opportunities, and the Skills Accelerator, targeting 300,000 placements in emerging fields.

“Talent mobility providers will connect these initiatives to real job opportunities, ensuring that individuals gain the right skills and can apply them directly in the workforce,” he said.

He also cited the Ministry of Human Resources and Social Development’s Skills Taxonomy — a tool to align labor capabilities with evolving job demands. Cross-sector mobility, especially in digital health and green energy, is expected to play a vital role.

“Talent mobility providers will drive transitions, helping build a skilled, adaptable workforce essential to realizing Saudi Arabia’s Vision 2030 and sustaining long-term growth,” he added.

From Bain & Co.’s standpoint, Eid believes mobility will evolve into a strategic lever rather than just an operational function.

“AI-led workforce planning, demand forecasting, and personalized career pathways will increasingly inform mobility decisions,” he said. “Organizations that view mobility as part of a broader talent strategy will likely be better positioned to navigate future workforce shifts and build resilience in a rapidly changing environment.”


Global markets: Shares rise on China-US trade hopes, dollar on the back foot

Global markets: Shares rise on China-US trade hopes, dollar on the back foot
Updated 27 June 2025
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Global markets: Shares rise on China-US trade hopes, dollar on the back foot

Global markets: Shares rise on China-US trade hopes, dollar on the back foot

PARIS: Global shares rallied on Friday, helped by signs of progress in US-China trade talks, while the dollar held close to its lowest levels in more than three years.

World stock markets have rallied to record highs this week, as traders took confidence from a ceasefire between Iran and Israel and markets stepped up bets for US rate cuts.

A trade agreement between the US and China on Thursday on how to expedite rare earth shipments to the US was also seen by markets as a positive sign, amid efforts to end the tariff war between the world’s two biggest economies.

Asian shares hit their highest in more than three years in early trading, and US stock futures pointed to a firm start for Wall Street shares.

The pan-European STOXX 600 index was up 0.8 percent on the day, set for a 1.1 percent weekly gain — its best week since mid-May.

London’s FTSE 100 was up 0.5 percent and Germany’s DAX gained 0.6 percent.

The MSCI World Equity Index touched a fresh record high and was set for a weekly gain of 2.8 percent.

The S&P 500 index is up just 4.4 percent this year overall, following a volatile first half of the year, dominated by US President Donald Trump’s “Liberation Day” tariff announcement on April 2, which sent stocks plunging.

“What we are having right now is potentially some optimism about some trade deals,” said Vasileios Gkionakis, senior economist and strategist at Aviva Investors.

“We have ... come from quite low levels in the aftermath of the Liberation Day in April. To a certain extent we have also had some mini-selloff on the back of the events in the Middle East, and in that sense we’re rebounding.”

Trump has set July 9 as the deadline for the EU and other countries to reach a deal to reduce tariffs.

Mark Haefele, chief investment officer at UBS Global Wealth Management said that in the near-term, the firm saw greater upside potential in US and emerging markets than in Europe.

Dollar drop

The dollar remained on the backfoot, hovering near its lowest level in 3-1/2 years against the euro and sterling.

The dollar index was down a touch on the day at 97.269 , holding near its lowest in more than three years. The euro was at $1.1708, getting a lift after data showed French consumer prices rose more than expected in June.

It held near multi-year peaks hit a day earlier.

“We see the US dollar as unattractive,” said Haefele at UBS Wealth Management.

Markets are focused on US monetary policy, as traders weigh up the possibility of Trump announcing a new, more dovish chair of the Federal Reserve.

Traders have stepped up their bets on US rate cuts, and are now pricing in 64 basis points (bps) of easing this year versus 46 bps expected on Friday.

The dollar is having its worst start to a year since the era of free-floating currencies began in the early 1970s.

“I don’t think it’s just the repricing of the Fed, I think there is a broader issue here of some tarnishing of US exceptionalism,” Aviva Investors’ Gkionakis said.

Core PCE price data, the US central bank’s preferred measure of inflation, is due later in the session.

German 30-year government bond yields were on track for their biggest weekly increase in nearly four months after rising this week on expectations of increased borrowing by Germany’s government.

 


PIF embraces ‘precision finance’ with diversified debt strategy, says Global SWF

PIF embraces ‘precision finance’ with diversified debt strategy, says Global SWF
Updated 27 June 2025
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PIF embraces ‘precision finance’ with diversified debt strategy, says Global SWF

PIF embraces ‘precision finance’ with diversified debt strategy, says Global SWF

RIYADH: Saudi Arabia’s Public Investment Fund is embracing a calibrated, multi-instrument approach to debt issuance described by Global SWF as a model of “precision finance.”

According to the research firm, the purpose — following the issuance of the commercial paper program in June — is to align PIF’s funding tools with investment timelines, liquidity needs, and investor targeting, while reinforcing financial discipline across its expanding portfolio.

In its report, Global SWF noted that PIF is moving away from a singular focus on long-term mega-bond issuances and toward a more agile debt framework that includes commercial paper, sukuk, green bonds, and multi-tranche conventional bonds.

This strategy is designed not just to raise capital, but to do so with precision, which is matching maturities to project lifecycles and diversifying funding sources across global markets.

Global SWF highlighted that PIF’s latest move, completes a full-spectrum debt portfolio that now includes ultra-short to ultra-long maturity instruments.

The commercial paper, issued in US dollar and euro denominations via offshore special-purpose vehicles, secured the highest short-term credit ratings available: Prime-1 from Moody’s and F1+ from Fitch.

These ratings reflect exceptional credit quality and grant PIF access to deep liquidity pools among institutional investors such as money market funds.

The commercial paper program is a critical addition to a borrowing strategy that also includes a $3 billion 100-year green bond issued in October 2022, a $5.5 billion green bond in February 2023, a $3.5 billion sukuk in October 2023, and a series of multi-tranche bonds and sukuk issued through early 2025. 

With each offering, PIF has tailored tenor, currency, and structure to match specific financial and investor objectives.

The evolution of PIF’s financial strategy is closely tied to its broader transformation under Vision 2030. Since 2016, the fund has grown its assets under management from $160 billion to $941.3 billion, according to the latest Vision 2030 Annual Report. It has now increased its 2030 AUM target to $2.67 trillion, reflecting its expanded mandate and rising international profile.

PIF’s investment strategy is balanced between domestic development and global positioning. About 40 percent of its assets are allocated to Saudi-based companies and projects, while the remaining 60 percent target international sectors such as technology, logistics, mining, and tourism.

According to the Vision 2030 report, PIF’s initiatives have helped create 1.1 million jobs, attracted over $37 billion in private capital, and grown the number of PIF-established companies from 45 in 2021 to 93 in 2024.

A strategic departure from Gulf norms

While other sovereign wealth funds such as Norway’s NBIM remain entirely debt-free, and Singapore’s Temasek or China Investment Corporation borrow sparingly, PIF has opted for a hybrid model, one that combines government equity injections with strategic use of debt instruments.

According to Global SWF, this is not a matter of opportunistic borrowing. Rather, PIF is practicing deliberate asset-liability matching which focuses on issuing long-dated bonds to support giga-projects like NEOM or The Line, while using short-term debt for working capital needs and market-timed investments.

Sukuk offerings help tap into regional Islamic finance liquidity, and green bonds target environmental, social, and governance-focused global capital.

This differentiated approach allows PIF to broaden its investor base while keeping funding costs aligned with the nature and duration of its projects.

Why ratings matter

The fund’s credibility is bolstered by strong long-term credit ratings: Aa3 from Moody’s and A+ from Fitch. This has allowed it to secure favorable terms on successive bond offerings and confirmed that PIF is regarded as an exceptionally low-risk short-term borrower, giving it seamless access to institutional liquidity globally.

Global SWF emphasized that the ratings, combined with diverse issuance formats, position PIF among a small group of sovereign wealth funds with the internal capability to manage complex, multi-layered debt programs.

Saudi Arabia is currently navigating a tighter fiscal environment, with a projected 2.3 percent budget deficit in 2025 and a more disciplined approach to public spending.

In this context, PIF’s access to capital markets is more than just financial, according to Global SWF, it serves as a strategic bridge that enables ongoing project execution without placing undue pressure on state reserves.

The firm noted that the fund’s recent bond and sukuk calendar illustrates a sequenced and diversified funding plan, rather than reliance on a single issuance type. This is especially important as global interest rates remain volatile and investors increasingly scrutinize sovereign debt sustainability.

Rather than treating debt as a one-off tool, the fund is deploying it systematically, by tenor, purpose, and investor group, to support a $2.6 trillion vision for economic diversification and global investment leadership.

As the Kingdom approaches the final stretch of Vision 2030 implementation, PIF’s capital strategy offers a case study in how sovereign wealth funds can combine financial discipline, market sophistication, and national ambition under a unified financing framework.


Safe-haven gold near a 1-month low as global tensions ebb

Safe-haven gold near a 1-month low as global tensions ebb
Updated 27 June 2025
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Safe-haven gold near a 1-month low as global tensions ebb

Safe-haven gold near a 1-month low as global tensions ebb

BENGALURU: Gold fell more than 1 percent to its lowest level in nearly a month on Friday due to easing geopolitical and trade tensions and as investors awaited US inflation data for clues on the future trajectory of interest rates.

Spot gold lost 1.4 percent to $3,282.68 per ounce by 1:55 p.m. Saudi time, its lowest since late May. Prices have fallen by over 2 percent this week and more than $200 from a record high scaled in April.

US gold futures fell 1.6 percent to $3,294.50.

The Iran-Israel ceasefire, brokered earlier this week by US President Donald Trump, is holding for now.

A White House official said on Thursday that the US has reached an agreement with China on how to expedite rare earths shipments to the US.

July 9 is the deadline for Trump’s “reciprocal” tariffs as nations rush to get an agreement.

“The loss of haven demand has meant that despite the latest leg down in the dollar, gold has not benefited from this at all,” said Fawad Razaqzada, market analyst at City Index and FOREX.com.

“A bit of a pullback would not be too bad an outcome as that will allow long-term technical overbought conditions on higher time frames to work off, allowing the metal to shine again when macro conditions are more favorable once more.”

Spot silver fell 1.8 percent to $35.96.

Platinum dropped 5.9 percent to $1,334.63, after hitting its highest since 2014. Palladium fell 1.2 percent to $1,117.96.

The main reason for the price increase in platinum was likely to be the high discount to gold, which is apparently considered too expensive, said Commerzbank in a note. 


Oil Updates — crude set for steepest weekly decline in two years as risk subsides

Oil Updates — crude set for steepest weekly decline in two years as risk subsides
Updated 27 June 2025
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Oil Updates — crude set for steepest weekly decline in two years as risk subsides

Oil Updates — crude set for steepest weekly decline in two years as risk subsides
  • Brent, WTI down 12 percent this week, most since March 2023
  • No major supply disruption from Mid-East crisis, analysts say

LONDON: Oil prices rose on Friday though were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate.

Brent crude futures were up 51 cents, or 0.75 percent, to $68.24 a barrel at 3:02 p.m. Saudi time, while US West Texas Intermediate crude was up 51 cents, or nearly 0.8 percent, to $65.75.

During the 12-day war that started after Israel targeted Iran’s nuclear facilities on June 13, Brent prices rose briefly to above $80 a barrel before slumping to $67 a barrel after US President Donald Trump announced an Iran-Israel ceasefire.

That put both contracts on course for a weekly fall of about 12 percent.

“The market has almost entirely shrugged off the geopolitical risk premiums from almost a week ago as we return to a fundamentals-driven market,” said Rystad analyst Janiv Shah.

“The market also has to keep eyes on the OPEC+ meeting – we do expect room for one more month of an accelerated unwinding basis balances and structure, but the key question is how strong the summer demand indicators are showing up to be.”

The OPEC+ members will meet on July 6 to decide on August production levels.

Prices were also being supported by multiple oil inventory reports that showed strong draws in the middle distillates, said Tamas Varga, a PVM Oil Associates analyst.

Data from the US Energy Information Administration on Wednesday showed crude oil and fuel inventories fell a week earlier, with refining activity and demand rising.

Meanwhile, data on Thursday showed that the independently held gasoil stocks at the Amsterdam-Rotterdam-Antwerp refining and storage hub fell to their lowest in over a year, while Singapore’s middle distillates inventories declined as net exports climbed week on week.

Additionally, China’s Iranian oil imports surged in June as shipments accelerated before the conflict and demand from independent refineries improved, analysts said.

China is the world’s top oil importer and biggest buyer of Iranian crude. It bought more than 1.8 million barrels per day of Iranian crude from June 1-20, according to ship-tracker Vortexa, a record high based on the firm’s data. 


Pakistani stocks decline by 715 points over profit-taking after two days of gains

Pakistani stocks decline by 715 points over profit-taking after two days of gains
Updated 26 June 2025
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Pakistani stocks decline by 715 points over profit-taking after two days of gains

Pakistani stocks decline by 715 points over profit-taking after two days of gains
  • KSE-100 Index closes at 122,046.46 points, witnessing a decline of 0.58 percent, as per stock market data
  • Profit-taking driven by fiscal year-end considerations, short-term portfolio rebalancing, says financial analyst

ISLAMABAD: The Pakistan Stock Exchange (PSX) witnessed a bearish trend on Thursday after two days of gains, losing 715.18 points to close at 122,046.46 points, which a financial analyst attributed to profit-taking driven by fiscal year-end considerations.

The PSX closed at 122,046.46 points when trading ended on Thursday, witnessing a negative change of 0.58 percent. The KSE-100 had closed at 122,761.64 points on Wednesday and before that on Tuesday, it surged by 6,079 points or 5.23 percent to close at 122,246 points. Analysts attributed the surge on Tuesday to the ceasefire announcement between Iran and Israel.

As many as 473 companies transacted their shares in the stock market on Thursday, with 200 of them recording gains and 237 sustaining losses, state-run Associated Press of Pakistan (APP) said, adding that the share price of 36 companies remained unchanged.

“After two consecutive sessions of strong gains, the local bourse witnessed a round of profit-taking today, driven by fiscal year-end considerations and short-term portfolio rebalancing,” Maaz Mulla, the vice president of equity sales at Topline Securities Limited, said in a statement.

Mulla said the benchmark KSE-100 index saw a “volatile ride“— climbing 656 points intraday before losing 715 points at close of business. He said the closing figure of 122,046 points reflected “a cautious investor mood” as the quarter draws to a close.

He said despite the decline at the end of the day, the overall market activity remained “vibrant.”

“Total traded volume clocked in at 750 million shares, with a traded value of PKR 29.8 billion,” Mulla said.

APP reported that the three top trading companies on Thursday were Pak Int. Bulk with 37,503,501 shares traded at Rs 8.52 per share, WorldCall Telecom with 33,285,442 shares at Rs 1.45 per share and Pervez Ahmed Co. with 32,962,174 shares at Rs 3.29 per share.