Saudi private sector employment reaches 11.27m in April: official data

According to the Saudi National Labor Observatory report, there was a net increase in citizen employment for April, with 18,535 individuals newly joining the private sector workforce. Shutterstock
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Updated 12 May 2024
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Saudi private sector employment reaches 11.27m in April: official data

RIYADH: Saudi Arabia’s private sector has created more job opportunities, with the total number of employees reaching 11.27 million workers in April, official data showed. 

According to the Saudi National Labor Observatory report, there was a net increase in citizen employment for April, with 18,535 individuals newly joining the private sector workforce. 

Among these figures, there are over 2.35 million Saudi nationals, comprising more than 970,200 female workers and over 1.38 million male employees. 

On the other hand, NLO data showed that the total number of residents employed in the private sector exceeded 8.91 million individuals, comprising over 8.55 million male workers and only 364,900 female employees.

The report provides an overview of the Saudi private sector, highlighting a dynamic workforce of over 9.9 million male workers and more than 1.3 million female workers, representing diverse nationalities and playing integral roles in sector operations. 

In February, the total number of employees in the Saudi private sector reached 11.1 million, marking a 0.9 percent increase from the previous month, according to an NLO release. 

The national observatory report revealed that out of the total, 2.3 million were Saudi nationals, while 8.8 million were residents of the Kingdom belonging to different nationalities. 

That data reflected a positive trend in the employment industry as the private sector continues to expand its workforce, creating opportunities for Saudi citizens. 

Moreover, an analysis of the Saudi national workforce revealed that while 961,690 employees were females, 1.4 million were males. 

Meanwhile, among the 8.8 million non-Saudi workers, 348,892 were women, while 8.4 million were men. 

In February alone, the net growth in jobs for Saudi nationals as well as residents stood at 26,694, indicating a steady increase in employment within the private sector. 

Saudi Arabia’s economic diversification efforts have transformed the Kingdom into a hub for employment opportunities, propelled by bold giga-projects such as NEOM, which attract fresh talent into the construction sector.  

NLO, a governmental organization, is tasked with monitoring and analyzing labor market trends and dynamics in the country. It serves as a crucial resource for policymakers, researchers, and stakeholders interested in understanding and addressing issues related to employment, workforce development, and labor market regulations. 


DGCX reports 30% rise in trade volumes in H1 2025

Updated 23 July 2025
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DGCX reports 30% rise in trade volumes in H1 2025

  • Growth attributed to heightened demand for hedging instruments
  • DGCX saw 1.56 million contracts traded with a notional value exceeding $37 billion in 2024

RIYADH: The Dubai Gold and Commodities Exchange witnessed 1 million contracts traded during the first half of this year, representing a 30 percent rise in average daily volumes compared to the same period in 2024.

In a press statement, DGCX attributed the growth to heightened demand for hedging instruments amid global market volatility, with gold contracts and Indian Rupee Quanto products leading the uptick in trading activity. 

According to the report, DGCX’s Shariah-compliant Gold Spot Contract led this growth, with value of trades reaching $46.8 million in the first six months, marking a significant 199.84 percent year-on-year rise. 

Established in 2005 and owned by the Dubai Multi Commodities Center, DGCX plays a pivotal role in Dubai’s status as one of the world’s largest gold trading hubs. 

With over 1,500 member companies operating in the gold and precious metals sector within DMCC, the exchange complements the international district’s broader offering in physical and financial trading infrastructure. 

“DGCX has seen exceptional momentum in the first half of the year, with nearly $47 million traded through our spot gold contract alone,” said Ahmed Bin Sulayem, chairman and CEO of DGCX. 

The statement further said that INR Quanto futures contract, a synthetic contract that enables global market participants to hedge Indian rupee exposure against the US dollar without requiring access to the underlying Indian markets, also continued to attract strong trading interest. 

“This performance not only places DGCX firmly on course to surpass its 2024 results but reinforces its role as a critical pillar in the region’s financial infrastructure,” said Sulayem. 

He added: “As global market conditions grow more complex, the exchange’s rising adoption by Shariah-based investors, bullion traders, and institutional participants alike highlights the growing demand and broad appeal for sophisticated, secure, and transparent hedging tools – a position we expect will get stronger.” 

The statement added that DGCX saw 1.56 million contracts traded with a notional value exceeding $37 billion in 2024, and the exchange is well on track to surpass that figure in 2025. 

In May, DGCX announced its acceptance to join the Arab Federation of Capital Markets’ Business Development Committee. 

In a statement at the time, DGCX said that the appointment reflects the exchange’s expertise in regulatory oversight, risk management, and product innovation, reinforcing its position as a leading regional player in derivatives trading and financial market infrastructure.

The AFCM, established in 1978 as the principal body for Arab stock exchanges, plays a critical role in enhancing collaboration and standardising best practices across the region. 


Saudi delegation arrives in Syria ahead of expected $4bn trade deals signings

Updated 23 July 2025
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Saudi delegation arrives in Syria ahead of expected $4bn trade deals signings

RIYADH: A Saudi business delegation led by Investment Minister Khalid Al-Falih has arrived in Damascus ahead of a forum set to generate trade deals worth SR15 billion ($4 billion).

More than 120 potential investors have travelled to Syria, as the Kingdom continues to support the country’s economic recovery and financial landscape. 

Syrian news agency SANA reported that the agreements will contribute to promoting sustainable development and economic interests between Syria and Saudi Arabia.

The Saudi-Syria Investment Forum is set to generate the multi-billion trade deals, Al Ekhbariya reported, while the Kingdom’s Ministry of Investment wrote on X that the event is expected to witness significant participation from public and private sector entities on both sides.

Investment Minister Khalid Al-Falih alongside Syrian Economy Minister Mohammad Nidal Al-Shaar

Saudi Arabia and Syria have made significant strides in restoring diplomatic ties in recent months, with the Kingdom reopening its embassy in Damascus in 2024 after a 12-year hiatus.

In April, Saudi Arabia and Qatar announced a joint initiative to settle Syria’s $15 million debt to the World Bank as part of broader efforts to support the financial recovery of the war-torn nation.

Last month, Al-Falih conducted a virtual meeting with Syrian Economy Minister Mohammad Al-Shaar, and discussed opportunities for collaboration in both public and private sectors.

The forum is also expected to set out joint projects and the signing of memorandums of understanding between the two sides in various fields, SANA reported.

That includes the launch of the Fayhaa White Cement Factory project in the Adra Industrial City in Damascus, which will expand cement production and support the country’s reconstruction, the news agency said.

The Syrian government this month also amended the country’s investment law, in a move that is expected to support more domestic and foreign investment.

During a visit by a Saudi delegation last week, Al-Shaar said that the new law provides an attractive legal environment that promotes the entry of capital, SANA reported.

The law will support the investment process and enhance the role of the private sector in reconstruction and economic development, the minister added. 


Saudi POS value holds above $3bn for 4th consecutive week

Updated 28 min 22 sec ago
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Saudi POS value holds above $3bn for 4th consecutive week

RIYADH: Hotel spending in Saudi Arabia surged by 2.1 percent in the week ending July 19, driving total point-of-sale transactions to SR12.19 billion ($3.25 billion), even as most other sectors saw declines. 

Total POS value remained above the $3 billion mark for the fourth consecutive week despite a 7.1 percent weekly drop, underscoring the resilience of consumer activity across the Kingdom, according to data from the Saudi Central Bank, also known as SAMA. 

The hotel sector recorded SR287.44 million in transaction value, with the number of transactions slipping 2.1 percent to 822,000, while overall POS transactions across all sectors declined 4.8 percent to 212.73 million. 

According to SAMA’s bulletin, the clothing and footwear sector saw the largest decrease, dropping by 13 percent to SR719.45 million. Spending on communications ranked next, dropping 12.5 percent to SR102.94 million. 

Restaurants and cafes — the sector with the biggest share of total POS value — recorded a 6.9 percent decrease to SR1.79 billion, while the food and beverages sector saw a 6.6 percent decrease, totaling SR1.73 billion and claiming the second-biggest share of this week’s POS. Spending on miscellaneous goods and services ranked third despite a 9.9 percent decline to SR1.36 billion. 

The top three categories accounted for approximately 39.9 percent of the week’s total spending, amounting to SR4.88 billion. 

The smallest decline was seen in spending on building materials which decreased by 0.2 percent to SR330.02 million, followed by expenditure on transportation which saw a 0.6 percent dip to SR718.02 million. 

The health sector saw a decrease of 8.1 percent to SR740.27 million, while the furniture sector declined by 3.7 percent to SR265.57 million. 

Spending on jewelry dipped by 11.7 percent to SR269.61 million, followed by a 9.9 percent decrease in spending on recreation and culture. 

Geographically, Riyadh dominated POS transactions, with expenses in the capital reaching SR4.20 billion, a 6 percent decrease from the previous week.  

Jeddah followed closely with a 7.2 percent dip to SR1.76 billion, while Dammam ranked third, down 6.9 percent to SR582.99 million. 

Abha saw the smallest decrease, inching down 1.1 percent to SR207.48 million, followed by Makkah with a 4.5 percent decrease to SR507.03 million.  

Hail recorded 3.69 million deals in transaction volume, down 7.6 percent from the previous week, while Tabuk reached 4.16 million transactions, dropping 9.1 percent. 


Oil Updates — prices stabilize after US-Japan trade deal

Updated 23 July 2025
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Oil Updates — prices stabilize after US-Japan trade deal

  • US-Japan trade deal puts the brakes on oil’s three-day slide
  • Market cautious ahead of EU-China summit

NEW DELHI: Oil prices were little changed on Wednesday after falling for three consecutive sessions as a US tariff deal with Japan improved global trade sentiment.

Brent crude futures were down 2 cents, or 0.03 percent, at $68.57 a barrel as of 8:54 a.m. Saudi time. US West Texas Intermediate crude futures were also down 2 cents, at $65.29 per barrel.

Both benchmarks lost about 1 percent in the previous session after the EU said it was considering countermeasures against US tariffs, as hope faded for a deal ahead of an AuG. 1 deadline. 

President Donald Trump said on Tuesday that the US and Japan had struck a trade deal that includes a 15 percent tariff on US imports from Japan. He also said Japan had agreed to invest $550 billion in the US.

Meanwhile, industry expectations are low for Thursday’s EU-China summit, which will test the bloc’s unity and resolve amid mounting trade tensions with both Beijing and Washington.

“The slide (in prices) of the past three sessions appears to have abated but I don’t expect much of an upward impetus from news of the US-Japan trade deal as the hurdles and delays being reported in talks with the EU and China will remain a drag on sentiment,” said Vandana Hari, founder of oil market analysis provider Vanda Insights.

China’s commerce minister and the European Union’s trade chief had a “candid and in-depth” discussion on economic and trade cooperation as well as other issues that both sides face ahead of the summit, the Chinese ministry said on Wednesday.

Separately, US crude and gasoline stocks fell last week, market sources said, citing American Petroleum Institute figures on Tuesday. Distillate stocks rose by 3.48 million barrels, they added.

“This will offer some relief to the middle distillate market, which has been looking increasingly tight,” ING analysts wrote in a note, adding that low crude inventories will offer some support to prices even as a large surplus is expected to hit the market later in the year.

In another bullish sign for the crude market, the US energy secretary said on Tuesday that the US would consider sanctioning Russian oil to end the war in Ukraine.

The EU on Friday agreed its 18th sanctions package against Russia, lowering the price cap for Russian crude. But analysts said a lack of US participation would hinder the effectiveness of the package. 


Saudi Arabia opens business travel channel with Syria to boost investment

Updated 22 July 2025
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Saudi Arabia opens business travel channel with Syria to boost investment

  • Syrian businessmen can apply for travel licenses directly at embassy in Damascus
  • Kingdom to organise Saudi-Syrian investment forum in Damascus

RIYADH: Saudi Arabia will introduce travel permits for businessmen and investors from Syria to deepen bilateral relations and facilitate mutual visits. 

Syrian businessmen can now apply for travel licenses directly at the embassy in Damascus, the Kingdom’s embassy said in an official post on X. Meanwhile, Saudi investors seeking to visit Syria can register via the Interior Ministry’s e-platform. 

Saudi Arabia and Syria have made significant strides in restoring diplomatic ties, with the Kingdom reopening its embassy in Damascus in 2024 after a 12-year hiatus. In April, Saudi Arabia and Qatar announced a joint initiative to settle Syria’s $15 million debt to the World Bank as part of broader efforts to support the financial recovery of the war-torn nation. 

“The embassy announces the availability of travel permits for interested Saudi and Syrian businessmen and investors, enabling them to exchange visits and explore investment opportunities in the two brotherly countries,” the statement said. 

The Kingdom’s Ministry of Investment announced that it will organize a Saudi-Syria Investment Forum in Damascus to explore cooperation opportunities to promote sustainable development in the two countries.

In an X post, the ministry said the forum is expected to witness significant participation from public and private sector entities on both sides.

In June, Saudi Minister of Investment Khalid Al-Falih held a virtual meeting with his Syrian counterpart, Mohammad Al-Shaar, to explore investment partnerships and discuss opportunities for collaboration across public and private sectors. 

Al-Falih affirmed the Kingdom’s commitment to helping stabilize and develop the Syrian economy, adding that stronger ties would serve the mutual interests of both countries and promote regional economic prosperity. 

Further aiding Syria’s economic recovery, US President Donald Trump signed an executive order in June to dismantle sanctions against the country. 

Following the announcement, Syrian Minister of Foreign Affairs and Expatriates Asaad Hassan Al-Shaibani posted on X that the decision by the US administration would support Syria’s economic revival and reintroduce the country to the global community.