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Riyadh to Host Third International Labor Market Conference in January

Photo of the previous edition of the conference (SPA)
Photo of the previous edition of the conference (SPA)
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Riyadh to Host Third International Labor Market Conference in January

Photo of the previous edition of the conference (SPA)
Photo of the previous edition of the conference (SPA)

Under the patronage of King Salman bin Abdulaziz, Riyadh will host the third edition of the International Labor Market Conference, organized by the Ministry of Human Resources and Social Development on Jan. 26-27, at the King Abdulaziz International Conference Center.

This year’s conference, held under the theme, “Shaping the Future,” will bring together senior policymakers, business leaders, labor-market experts, and representatives of international organizations to develop shared visions on the future of work and explore forward-looking solutions to global labor-market challenges.

Minister of Human Resources and Social Development Ahmad Al-Rajhi said the event has become a prominent global platform for constructive dialogue on the future of labor markets. He added that the conference reflects the Kingdom’s commitment to strengthening international cooperation and developing innovative solutions that enhance labor-market resilience and empower workforces worldwide.

Deputy Minister for Labor Affairs Dr. Abdullah bin Nasser Abuthnain told Asharq Al-Awsat that the third edition will be “broader and more in-depth” than previous years, both in academic content and in the scale of international participation.

The theme “Shaping the Future,” he said, signals the conference’s transformation from a venue for exchanging expertise into a space for generating actionable, practical solutions. More than 45 ministers are expected to participate in a dedicated ministerial session, alongside over 200 international speakers and 7,000 participants, across a program featuring more than 50 sessions and events.

According to Abuthnain, the conference will introduce innovative formats, including legislative-transformation sessions, solution-focused hackathons, and a youth-research track.

The conference agenda will address major global shifts reshaping the future of work, from technological development and artificial intelligence to employment flexibility and the informal economy. Special focus will be placed on future skills, the demands of the new economy, the impact of automation, job quality, and the workforce’s ability to adapt to crises. Saudi Arabia’s labor-market reforms under Vision 2030 - including digital-skills development, women’s empowerment, and job-quality enhancement - will feature prominently.

Abuthnain said the conference has become an effective platform for signing agreements and memoranda of understanding. The upcoming edition will see a significant expansion of partnerships with international institutions, including the World Bank, UN agencies, and the OECD, aimed at strengthening data systems, supporting skills development, and building more effective social-protection frameworks.

He continued that the Labor Market Academy, launched during the previous edition, has become a cornerstone of the conference’s knowledge agenda and a global training platform for policymakers. It will celebrate the graduation of its first cohort this year after delivering advanced programs on labor-market analysis, policy design, skills-economy alignment, and digital-transformation readiness.

Since its launch in 2023, the conference has evolved into a year-round global knowledge platform, supported by initiatives such as the Global Labor Market Academy and its partnerships with the World Bank and Takamol Holding.

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Business

TotalEnergies to Honor All LNG Contracts Despite Qatar Outages

FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo
FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo
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TotalEnergies to Honor All LNG Contracts Despite Qatar Outages

FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo
FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo

TotalEnergies' CEO Patrick Pouyanne said on Thursday that the company made a decision not to declare force majeure to any of its liquefied natural gas customers, and that it would respect all the LNG contracts in terms of price and ⁠volume.

Qatar, the world's biggest ⁠LNG producer, has declared force majeure on all of its LNG output after being attacked as part of the US-Israeli war with Iran.

"We said to our customers we will ⁠not invoke force majeure and not deliver the gas... We want to be security of supply for our customers," Pouyanne said.

"Yes, we'll miss energy coming from Qatar and Abu Dhabi, but our portfolio is large enough to redirect part of it," he added, according to Reuters.

Analysts estimate TotalEnergies takes 5.2 million metric tons per annum (mtpa) from ⁠its ⁠share of the QatarEnergy LNG trains.

Sources have said Shell, the world's biggest LNG trader, had declared force majeure on cargoes it buys from QatarEnergy and sells on. Analysts estimate Shell takes 6.8 mtpa of Qatari LNG.

Pouyanne also said that the current energy crisis makes renewables more attractive as they are not subject to the volatility from geopolitical instability.

Business

India Secures 60 Days of Oil Supply amid Hormuz Disruption

Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
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India Secures 60 Days of Oil Supply amid Hormuz Disruption

Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)

India has secured crude oil supplies for the next 60 days, ensuring stable fuel supplies in the country despite disruption in shipments from the Middle East, the oil ministry said in a statement on Thursday.

India, the world's third biggest oil consumer and importer, was buying over 40% of its oil imports from the Middle East. Those supplies are disrupted due to the US-Israeli war on Iran.

Higher availability of crude in global markets, mainly from the Western hemisphere, has helped offset the shortfall, the government said.

Taking advantage of a temporary US waiver, Indian refiners have also ramped up purchases of Russian crude, securing millions of barrels to fill the supply gap.

"Despite the situation at the Strait of Hormuz, India is today receiving more crude oil from its 41-plus suppliers across the world than what was previously arriving through the Strait," the ministry said.

As a net exporter of petroleum products, India’s domestic availability of petrol and diesel remains structurally secure, the government said.

The world's fourth-largest refiner has oil and fuel stocks sufficient to meet 60 days of demand, against a total storage capacity of 74 days, it added.

"Nearly two months of steady supply is available for every Indian citizen, regardless of what happens globally. The next two months of crude procurement have also been secured," it added.

India has asked refiners to maximize production of liquefied petroleum gas, used as cooking fuel, as the nation was buying 90% of its LPG imports from the Middle East.

Domestic daily LPG production has been increased by 40% to 50,000 metric tons against a requirement of 80,000 tons, it said.

In addition, Indian companies have secured 800,000 tons of LPG cargoes from the United States, Russia, Australia, and other countries, it said.

These shipments, arriving across India's 22 LPG import terminals, provide roughly one month of assured supply, with further procurement underway, the government said.

Business

SAMA Licenses Two Companies to Provide Open Banking Services

SAMA Licenses Two Companies to Provide Open Banking Services
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SAMA Licenses Two Companies to Provide Open Banking Services

SAMA Licenses Two Companies to Provide Open Banking Services

The Saudi Central Bank (SAMA) announced the licensing of “Altknwlwjya aljadydh llhulul albrmjyh” and “lyn tknwlwjyz Company Saudi Arabia litqniyat nuzum almaelumat” to conduct payment services by providing account information—one of the services associated with open banking.

The licenses were granted following the successful completion of the regulatory sandbox phase under SAMA’s supervision.

The decision reflects SAMA’s ongoing efforts to support and enable the financial sector, enhance the efficiency and flexibility of financial transactions, and promote innovation in financial services. This aims to advancing financial inclusion and expanding access to financial services across all segments of society.

SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's official website.