عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Human Resources Ministry, Sama Sign MoU to Localize Financial Jobs

Saudi Arabia continues efforts to fill the labor market with Saudi workers. (Asharq Al-Awsat)
Saudi Arabia continues efforts to fill the labor market with Saudi workers. (Asharq Al-Awsat)
TT
TT

Saudi Human Resources Ministry, Sama Sign MoU to Localize Financial Jobs

Saudi Arabia continues efforts to fill the labor market with Saudi workers. (Asharq Al-Awsat)
Saudi Arabia continues efforts to fill the labor market with Saudi workers. (Asharq Al-Awsat)

The Saudi Ministry of Human Resources and Social Development (HRSD) signed a joint memorandum of understanding with the Saudi Central Bank (SAMA) and the Human Resources Development Fund “Hadaf” to launch steps to localize jobs at the financial sector.

The memorandum aims to ensure the consistency of the work of the Ministry and SAMA to localize all sectors supervised by the central bank, increase the number of employees within its entities, and coordinate localizing and training of all financial activities.

The agreement is part of the Ministry’s plans to build complementary relationships and strategic partnerships with various sectors and achieve the goals of Vision 2030, including the transformation and national programs.

Earlier this month, the Ministry announced the decision to Saudize six major sectors to create 40,000 new jobs for Saudis. The professions and activities include legal consultancy, lawyer’s offices, customs clearance, real estate activities, the cinema sector, driving schools and technical and engineering jobs.

Minister of Human Resources and Social Development Ahmed al-Rajhi announced that the Ministry aims to create over 203,000 jobs in 2021.

He said the new decisions are a continuation of the Ministry’s strategy to enable localize cadres to secure outstanding jobs. They also aim to provide an attractive and stimulating work environment that is instrumental in attracting more citizens to work in the private sector, and eventually increase their participation in the labor market.

Since the beginning of this year, the Ministry has issued several decisions concerning the Saudization of more sectors: malls, restaurants and cafes, central catering markets, and educational professions in the private sector.

The Ministry issued localizing decisions to support establishments and jobseekers in line with the organized mechanisms and a specific period and target specific professions in vital sectors, such as dentistry, pharmacy, engineering and accounting.

It includes specific jobs, leadership, supervisory jobs, sustainable jobs with growth and development, and jobs for which high-level technical skills are required.

The Ministry clarified that the minimum salary for Saudi men and women working in senior management positions in the operation and maintenance sector in public entities had been fixed at $2,400.

The pay scale will have to increase based on the years of experience in the sector, as stated in the Guide for Saudization for Operation and Maintenance Contracts in Public Entities.

The guide sets the minimum salaries for the engineering and specialist professions at $2,200 and $1,800 for the supervisory posts. Salaries of Saudis in operation and maintenance sector companies are subject to supply and demand.

The job levels in the operation and maintenance sector are divided into six standard levels according to the minimum qualifications and experience required for each group.

Most Viewed

 
 
Business

Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
TT
TT

Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 

Saudi Arabia’s Minister of Tourism, Ahmed Al-Khateeb, has toured hospitality facilities and visitor services in Madinah as part of the “Spirit of Ramadan” inspection tour, which also included Jeddah and Makkah.

New data show visitor numbers exceeded 21 million over the past year, a 12 percent increase from 2024, while total tourism spending reached SAR 52 billion (about $13.9 billion), up 22 percent.

The visit focused on assessing the sector’s readiness for the Ramadan season, evaluating service quality, and supporting ongoing and upcoming tourism projects.

Madinah posted strong tourism performance in 2025, driven by higher visitor inflows and expanded hospitality capacity, reinforcing its position as a leading religious destination within Saudi Arabia’s tourism landscape.

Demand growth has been matched by a sharp rise in supply. Licensed hospitality facilities increased to 610, up 35 percent, while the number of licensed rooms surpassed 76,000, a 24 percent gain, strengthening the city’s ability to accommodate during peak seasons such as Ramadan and Hajj.

Travel and tourism offices also grew to more than 240, reflecting a 29 percent expansion in supporting services.

Al-Khateeb said the entry of international hospitality brands and new projects over the past five years underscores both sectoral growth and rising investor confidence in the Kingdom’s tourism ecosystem.

“The landscape today is different. The sector is growing steadily, supported by a system that empowers investors and facilitates their journey, with a promising future ahead,” he said.

To expand hotel capacity, the minister inaugurated the Radisson Hotel Madinah, a project worth more than SAR 39 million (around $10 million) and financed by the Tourism Development Fund.

The 2025 performance signals a shift from traditional seasonal growth toward more sustainable expansion built on diversified offerings, improved service quality, and a stronger contribution to the local economy.

 

 

 

 

 

 

Business

Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
TT
TT

Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File

Plane maker Airbus aims to deliver a record number of commercial aircraft this year, the company said Thursday, capitalizing on "strong demand" and a jump in profit in 2025.

"2025 was a landmark year, characterized by very strong demand for our products and services across all businesses," CEO Guillaume Faury said in a press release announcing annual results.

The European manufacturer said it received 1,000 orders for commercial planes in 2025, with net orders of 889 after taking cancellations into account, and 793 delivered.

Last year, its overall profit jumped 23 percent to 5.2 billion euros ($6.1 billion).

The company said it is targeting "around 870 commercial aircraft deliveries" this year.

"As the basis for its 2026 guidance, the Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations, and its ability to deliver products and services," it said in its outlook.

Both Airbus and its rival Boeing have struggled to return to pre-pandemic production levels after their entire network of suppliers was disrupted, even as airlines are eager to modernize their fleets with more fuel-efficient aircraft and expand to meet an expected increase in passenger numbers over the coming decades.

Business

Saudi Arabia's Humain Invests $3 Bn in Musk's xAI

The logo of the Saudi company Humain. Asharq Al-Awsat
The logo of the Saudi company Humain. Asharq Al-Awsat
TT
TT

Saudi Arabia's Humain Invests $3 Bn in Musk's xAI

The logo of the Saudi company Humain. Asharq Al-Awsat
The logo of the Saudi company Humain. Asharq Al-Awsat

Saudi Arabia's artificial intelligence firm Humain said Wednesday it had invested $3 billion in US billionaire Elon Musk's xAI.

The investment made Humain a "significant minority shareholder,” the company said in a statement.

It added that its xAI holdings would be "converted into SpaceX shares" after the rocket company announced it was taking over the AI start-up earlier this month as Musk pushes to unify his many business interests.

CEO Tareq Amin said the latest investment “reflects Humain’s conviction in transformational AI and our ability to deploy meaningful capital behind exceptional opportunities where long-term vision, technical excellence, and execution converge, xAI’s trajectory, further strengthened by its acquisition by SpaceX, one of the largest technology mergers on record, represents the kind of high-impact platform we seek to support with significant capital.”

Musk's xAI had previously announced in November it was teaming up with Humain to build a 500-megawatt data center in Saudi Arabia.

The Saudi firm also inked a new deal with Nvidia.