3rd Edition of Global Labor Market Conference to Kick off in Riyadh on Monday

The King Abdullah Financial District (KAFD) during the early hours of the night in Riyadh, Saudi Arabia, August 29, 2025. (Reuters)
The King Abdullah Financial District (KAFD) during the early hours of the night in Riyadh, Saudi Arabia, August 29, 2025. (Reuters)
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3rd Edition of Global Labor Market Conference to Kick off in Riyadh on Monday

The King Abdullah Financial District (KAFD) during the early hours of the night in Riyadh, Saudi Arabia, August 29, 2025. (Reuters)
The King Abdullah Financial District (KAFD) during the early hours of the night in Riyadh, Saudi Arabia, August 29, 2025. (Reuters)

Riyadh will host on Monday the third edition of the Global Labor Market Conference (GLMC) under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud. Held under the theme “Future in Progress,” the event will feature high-level participation from decision-makers, thought leaders, and experts from around the world.

Minister of Human Resources and Social Development Ahmed Al-Rajhi stressed that convening the third edition of GLMC under King Salman’s patronage reflects the Kingdom’s commitment to its international role in advancing global dialogue on the future of work and addressing the shared challenges reshaping labor markets worldwide.

The conference is a global platform that brings together key stakeholders to exchange expertise and build shared visions that contribute to the development of more flexible and inclusive policies, boost workforce readiness, and achieve a balance between economic growth and quality of life, in line with the objectives of Saudi Vision 2030, he added.

This year’s conference will see broad international participation, with more than 10,000 participants from 100 countries, alongside more than 40 labor ministers, and representatives of international organizations, the private sector, and academic institutions. The conference will also feature more than 200 speakers across over 50 sessions.

The two-day conference is organized by the Ministry of Human Resources and Social Development in strategic partnership with a number of international organizations, including the International Labor Organization (ILO), the World Bank, the United Nations Development Program (UNDP), the Organization for Economic Co-operation and Development (OECD), the International Organization for Migration (IOM), UN Tourism, Labor Center of the Organization of Islamic Conference, and King’s Trust International (KTI), and the Mohammed bin Salman Foundation (Misk).

In its third edition, the conference will focus on six main pillars reflecting the major transformations taking place in global labor markets. These include trade transformations and their impact on employment, informal economies, the new global skills landscape, the real impact of artificial intelligence on jobs and productivity, building resilient labor markets in times of crisis, and boosting job quality, with particular attention given to youth as the foundation of the future economy.

The conference will include a number of milestones, most notably the Ministerial Meeting of labor ministers, bringing together ministers from more than 40 countries to discuss practical and immediate employment pathways in light of global transformations. Other activities include the signing of agreements and memoranda of understanding, the organization of bilateral meetings, and the launch of new initiatives.

The conference will also witness the graduation of the first cohort of the Labor Market Academy, as part of efforts to bolster capacity building for policymakers, develop specialized labor market competencies, and enhance international knowledge exchange in this field.

GLMC is one of the world’s leading platforms dedicated to labor market issues, aiming to translate international dialogue into practical policies and initiatives, strengthen cooperation among countries, and support the development of more resilient and sustainable labor markets, contributing to enhanced economic competitiveness at the local, regional, and global levels.



Trump Warns EU of Tariffs over Canada's Potential Associate Membership

President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
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Trump Warns EU of Tariffs over Canada's Potential Associate Membership

President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)

US President Donald Trump has threatened to take action against the EU if it moved forward with European Commission President Ursula von der Leyen's proposal to make Canada the bloc's first associate member.

"If they do that, if I think it's at all ⁠a hostile act, ⁠I will put very serious tariffs or stop trading with Europe on many things," Trump told reporters en route to ⁠an event in North Carolina, calling the proposal "laughable."

"And so, if they do that, if Europe does that with a bad intention, if it's a good intention, that's fine. If it's a bad intention, we'll put very heavy tariffs ⁠on ⁠Europe."

Von der Leyen announced the proposal on Wednesday during her annual State of the Union speech, attended by Canadian Prime Minister Mick Carney, as she sought to deepen ties among allies in what she called "an openly hostile world.”


Riyadh Global Medical Biotechnology Summit Concludes with Agreements Exceeding SAR5 Billion

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
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Riyadh Global Medical Biotechnology Summit Concludes with Agreements Exceeding SAR5 Billion

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday with more than 40 agreements, initiatives and announcements unveiled through partnerships, programs and projects with a combined estimated value exceeding SAR5 billion.

The initiatives aim to advance biotechnology localization and strengthen its healthcare and economic impact, the Saudi Press Agency said.

The summit drew delegations and experts from more than 57 countries and more than 200 speakers. The total number of visitors and registrants exceeded 15,000.

Its program included more than 80 sessions, along with seven high-level executive sessions, covering artificial intelligence, genomics, vaccines, biomanufacturing, advanced therapies, investment, and talent development.

The Life Sciences Innovation Forum attracted five specialized investment funds that expressed readiness to invest more than $120 million in promising opportunities and companies.

Meanwhile, the Next Generation Biotechnologist Forum focused on empowering early-career researchers and scientists.

The accompanying exhibition spanned more than 6,000 square meters and featured more than 120 sponsors and exhibitors, including international pavilions from Spain, China, Japan, Germany, the United States of America, and the Republic of Korea.


Goldman Sachs Sees October Fed Hike after Hawkish Signal

FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, US, May 1, 2020. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, US, May 1, 2020. REUTERS/Kevin Lamarque/File Photo
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Goldman Sachs Sees October Fed Hike after Hawkish Signal

FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, US, May 1, 2020. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, US, May 1, 2020. REUTERS/Kevin Lamarque/File Photo

Goldman Sachs now expects the Federal Reserve to raise interest rates by another quarter point in October, making it one of the first major Wall Street banks to forecast consecutive rate hikes following the US central bank's hawkish signal on Wednesday.

The call represents a reversal of Goldman's earlier view that the US Fed had completed its tightening cycle after September's quarter-point increase.

Goldman said the Fed's updated rate projections, which showed a strong ⁠majority of policymakers ⁠expecting at least one more increase this year, pointed to a "two-hike baseline" for 2026.

The brokerage said October was the most likely timing for the next move because policymakers framed further tightening as supporting "a timelier return" to the Fed's 2% inflation target.

The ⁠Fed earlier on Wednesday raised interest rates by 25 basis points to a 3.75%-4.00% range.

Goldman said the meeting was more hawkish than expected, citing policymakers' rate projections, an upward revision to the neutral interest rate and Chair Kevin Warsh's repeated description of the move as having only "removed a dose of accommodation."

Traders see roughly 50% odds of another quarter-point Fed rate hike in October, according to CME Group's ⁠FedWatch tool, ⁠up sharply after policymakers signaled further tightening could be needed.

Goldman's revised forecast leaves Bank of America Global Research as the only other major brokerage expecting a more aggressive tightening path, with BofA projecting rate hikes in October and December, Reuters reported.

Markets will also be watching policy decisions from the Bank of England, due later in the day, and the Bank of Japan on Friday for further clues on the global interest-rate outlook.