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‘Takamol’ CEO: 1 Mln Daily Operations Tracked on ‘Qiwa’ Platform

One of the job fairs that bring together companies and job seekers in Saudi Arabia (Asharq Al-Awsat)
One of the job fairs that bring together companies and job seekers in Saudi Arabia (Asharq Al-Awsat)
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‘Takamol’ CEO: 1 Mln Daily Operations Tracked on ‘Qiwa’ Platform

One of the job fairs that bring together companies and job seekers in Saudi Arabia (Asharq Al-Awsat)
One of the job fairs that bring together companies and job seekers in Saudi Arabia (Asharq Al-Awsat)

A Saudi official has revealed a new initiative dedicated to achieving an integrated employment market and fixing issues in the Kingdom’s job market. The initiative combines various services into one platform, “Qiwa.”

Qiwa is a unified platform for automating the services of the Ministry of Human Resources in the labor sector to be a meeting point between establishments and workers in the private sector.

Qiwa connects businesses, individuals, and public services.

Dr. Ahmed Al-Yamani, CEO of “Takamol,” a Saudi government-backed company, explained that traditionally, tasks like visa issuance and contract documentation were scattered.

Now, everything happens on a single automated platform, making things much easier for employers. This move seeks to modernize and streamline the job market processes in Saudi Arabia.

Speaking to Asharq Al-Awsat, the CEO of Takamol reflected on how much the labor market has changed.

Al-Yamani revealed that Takamol used to handle 10,000 to 20,000 tasks daily on the Qiwa platform, but now it’s over a million.

This boost in efficiency makes services smoother and helps with economic growth, Al-Yamani stressed, saying Takamol is a big part of Saudi Arabia’s labor market, supporting the goals of the Kingdom’s national transformation plan, “Vision 2030.”

The services inspired by the Vision’s initiatives didn’t just stop at organization; the labor market always needs empowerment.

“We began by launching two platforms, around four or five years ago, for the Human Resources Development Fund,” said Al-Yamani.

“When we started, the idea was to address the problem of very low female participation in the Saudi labor market, which was below 19%,” he added.

“Our goal was to reach 39 or 40% by 2030. We launched several programs, including remote training and skill enhancement, so that women, youth, or anyone seeking or already in employment could develop their abilities easily and quickly through these platforms,” explained the CEO.

“Now, millions of users have accessed them, accumulating millions of training hours,” revealed Al-Yamani.

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Oil Edges Down amid Bearish Trump Tariff Outlook

A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev/File Photo
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev/File Photo
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Oil Edges Down amid Bearish Trump Tariff Outlook

A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev/File Photo
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev/File Photo

Oil prices declined moderately on Thursday as investors weighed the potential impact of US President Donald Trump's tariffs on global economic growth.

Brent crude futures were down 23 cents, or 0.3%, at $69.96 a barrel by 0904 GMT. US West Texas Intermediate crude fell 32 cents, or 0.5%, to $68.06 a barrel.

On Wednesday, Trump threatened Brazil, Latin America's largest economy, with a punitive 50% tariff on exports to the US, after a public spat with his Brazilian counterpart Luiz Inacio Lula da Silva.

He has also announced plans for tariffs on copper, semiconductors and pharmaceuticals and his administration sent tariff letters to the Philippines, Iraq and others, adding to over a dozen letters issued earlier in the week including for powerhouse US suppliers South Korea and Japan.

Trump's history of backpedaling on tariffs has caused the market to become less reactive to such announcements, said Harry Tchilinguirian, group head of research at Onyx Capital Group.

"People are largely in wait and see mode, given the erratic nature of policy making and the flexibility the administration is showing around tariffs," Tchilinguirian said.

Policymakers remain worried about the inflationary pressures from Trump's tariffs, with only "a couple" of officials at the Federal Reserve's June 17-18 meeting saying they felt interest rates could be reduced as soon as this month, minutes of the meeting released on Wednesday showed.

Higher interest rates make borrowing more expensive and reduce demand for oil, Reuters said.

Supporting oil prices however was a weaker US dollar in Thursday's Asia trading session, said OANDA senior analyst Kelvin Wong. A weaker dollar lifts oil prices by making it cheaper for holders of other currencies.

US crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Gasoline demand rose 6% to 9.2 million barrels per day last week, the EIA said.

Global daily flights were averaging 107,600 in the first eight days of July, an all-time high, with flights in China reaching a five-month peak and port and freight activities indicating "sustained expansion" in trade activities from last year, JP Morgan said in a client note.

"Year to date, global oil demand growth is averaging 0.97 million barrels per day, in line with our forecast of 1 million barrels per day," the note said.

Additionally, there is doubt the recent increase in production quotas announced by OPEC+ will result in an actual increase in production, as some members are already exceeding their quotas, said Tony Sycamore, an analyst at IG.

"And others, like Russia, are unable to meet their targets due to damaged oil infrastructure," he said.

OPEC+ oil producers are set to approve another big output boost for September, as they complete both the unwinding of voluntary production cuts by eight members, and the United Arab Emirates' move to a larger quota.