Developing Human Capital in the Saudi Industrial Field

Saudi officials after signing a memorandum of cooperation to develop human capital in the industrial field (Asharq Al-Awsat)
Saudi officials after signing a memorandum of cooperation to develop human capital in the industrial field (Asharq Al-Awsat)
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Developing Human Capital in the Saudi Industrial Field

Saudi officials after signing a memorandum of cooperation to develop human capital in the industrial field (Asharq Al-Awsat)
Saudi officials after signing a memorandum of cooperation to develop human capital in the industrial field (Asharq Al-Awsat)

The Saudi Industrial Investments Company (Dussur), in cooperation with the Human Resources Development Fund (Hadaf), seeks to develop human capital in the industrial field, unify efforts, enhance collaboration in finding solutions, and address the challenges facing national cadres in the sector.

Dussur signed a memorandum of cooperation with Hadaf in the presence of Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Industry and Mineral Resources Bandar al-Khorayef, Minister of Education Hamad al-Sheikh, and several officials.

The memorandum of cooperation stipulated the development of human capital to serve the industrial field, identify training needs, and provide support programs in line with them.

It also launched initiatives to qualify job seekers with skills, most notably the basics of employment, technical, engineering, and professional skills, designing and implementing activities related to employment in the sector.

Crown Prince Mohammad bin Salman launched the Human Capacity Development Program to develop human capabilities and achieve the objectives of Vision 2030.

The Program aims to ensure that citizens have the required capabilities to compete globally by instilling values, developing primary and future skills, and enhancing knowledge.

It seeks to develop a solid educational base for all citizens and instill values early on while preparing the youth for the future local and global labor market.

It also focuses on upskilling citizens by providing lifelong learning opportunities, supporting innovation and entrepreneurship culture, and developing and activating policies to ensure Saudi competitiveness.

The Crown Prince stressed that the Human Capability Development Program represents a national strategy to enhance the competitiveness of national human capabilities locally and globally to be ready for the current and future labor market with abilities and ambitions.

The Program aims to ensure that citizens have the required capabilities to compete globally by instilling values, developing primary and future skills, and enhancing knowledge.

It includes 89 initiatives aimed at achieving 16 strategic objectives of Vision 2030.

The strategy includes three main pillars: develop a resilient and robust educational base, prepare for the future labor market locally and globally, and provide lifelong learning opportunities.

The Program's initiatives will include promoting the expansion of kindergartens, which will help to develop a resilient and robust educational base for all children. It entails career guidance and counseling initiative as well to provide citizens with the capabilities and skills necessary to plan their career objectives.

Human capacity development focuses on preparing and rehabilitating human capabilities in Saudi Arabia, developing the human capacity development system from early childhood to lifelong learning, developing education outputs to align them with the needs of the current and future labor market, and localizing high-skilled jobs through the rehabilitation and training of citizens, in addition to activating.

The Program will aim to achieve several goals, including increasing kindergarten enrollment from 23 percent to 90 percent and placing two Saudi universities among the top 100 universities in the world by 2030.



SpaceX Leveraged Fund Providers Hit by Day-one Launch Setback, Sources Say

The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration
The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration
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SpaceX Leveraged Fund Providers Hit by Day-one Launch Setback, Sources Say

The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration
The SpaceX logo and a rising stock graph in this illustration, taken June 11, 2026. REUTERS/Dado Ruvic/Illustration

Asset managers eager to roll out leveraged exchange-traded funds tied to SpaceX on its first trading day have been told to delay the launch until Monday, four sources familiar with the matter said.

The setback denies speculators and traders a chance to capture what many expect could be a strong first-day pop in the shares of the blockbuster IPO, while managers will have to wait for the influx of capital into their products, Reuters said.

"We had really wanted to be out on Friday," said Matt Markiewicz, head ‌of product and ‌capital markets at Tradr ETFs, declining to comment on the ‌delay. ⁠The firm's 2x ⁠long and 2x short ETFs will now debut Monday on Cboe Global Markets .

"There is a lot at stake; these products could end up holding a total of more than $10 billion" in assets, Markiewicz added.

Asset managers seeking SEC approval to launch the ETFs had hoped to trade in lockstep with SpaceX's market debut, several of the issuers said.

Instead, exchanges told them on Wednesday the listings would need to be pushed to the first trading day following ⁠the IPO, according to four sources. The exchanges cited SEC concerns ‌that coupling the ETF launches with leveraged products could complicate ‌the SpaceX debut, three sources said.

The SEC did not respond to requests for comment. ‌A spokesman for the Nasdaq Stock Market, which will be home to the SpaceX IPO ‌as well as some of the ETFs, declined comment. Cboe Global Markets and the New York Stock Exchange could not immediately be reached for comment.

While there is no precedent for leveraged funds - introduced in the US less than four years ago and surging in number over the past ‌12 months - to launch alongside an underlying stock, asset managers had hoped to gain an edge in what analysts say could be ⁠a multibillion-dollar race ⁠for assets in the first weeks of trading.

"There are billions at stake in the first few weeks alone," said Todd Sohn, an ETF analyst at Strategas.

Major players in the leveraged stock arena, including Direxion, GraniteShares, ProShares and Defiance, plan to roll out 2x leveraged long ETFs as soon as they are permitted to do so, according to their filings and advertisements on investment forums and social media sites.

"Investors will have multiple options; they will be able to get SpaceX exposure because of early entry on the part of passive index providers, or through the stock itself, or through the leveraged (ETF) ecosystem, which adds up to a pretty robust mechanism for price discovery," said Simeon Hyman, global investment strategist at ProShares.

He said his firm had no plans to launch early and was comfortable waiting until Monday. "The intent of everybody is to have this (IPO) work smoothly."


Türkiye Central Bank Commits to Continued Disinflation Path

 A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)
A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)
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Türkiye Central Bank Commits to Continued Disinflation Path

 A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)
A man carries goods on his shoulder on a hot day in Istanbul, Wednesday, June 3, 2026. (AP)

Turkish Central Bank Governor Fatih Karahan said on Friday that price stability remains the top priority and that the disinflation process will continue despite recent ‌geopolitical tensions.

The ‌governor said ‌policy ⁠tools and strong ⁠reserves provide the means to sustain disinflation, and that a rebalancing in domestic demand is ⁠expected to continue ‌supporting ‌the process.

Governor said ‌the central bank ‌will continue to monitor all factors affecting the inflation outlook.

Loan ‌growth is moving toward a more ⁠balanced ⁠path, the governor said, citing the latest policy measures.

Strong reserves alongside policy tools act as buffers against geopolitical risks to disinflation.


Dollar Steadies as Traders Weigh Prospects for Iran Ceasefire

A US $100 dollar bill is seen on December 17, 2009. (Reuters)
A US $100 dollar bill is seen on December 17, 2009. (Reuters)
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Dollar Steadies as Traders Weigh Prospects for Iran Ceasefire

A US $100 dollar bill is seen on December 17, 2009. (Reuters)
A US $100 dollar bill is seen on December 17, 2009. (Reuters)

The dollar found its footing on Friday after sliding the previous day as traders waited for confirmation that a ceasefire deal in the Middle East could be imminent.

The euro bounced around and was last very slightly higher at $1.158, near its strongest in a week after the European Central Bank's first interest rate hike in three years on Thursday.

The US dollar was up 0.1% against Japan's currency at 160 yen, keeping it around a key level at which traders tend to get nervous about intervention from Tokyo.

The British pound fell very slightly to $1.341. Data showing the economy contracted in April appeared to have little impact, with the focus on Iran ‌talks.

US President Donald ‌Trump said on Thursday the United States and Iran could ‌sign ⁠a peace deal ⁠as soon as this weekend that would reopen the Strait of Hormuz to shipping. Brent crude slid 3.6% to $87 a barrel on Friday.

Iran's semi-official Mehr news agency said on Friday the memorandum, which contained US commitments to lifting sanctions and its naval blockade, required finalization by the relevant authorities.

Yet analysts and investors sounded a skeptical note, saying potential breakthroughs have previously failed to materialize.

"There's a question around the hopes of a deal, ⁠and questions around whether it will be met and agreed upon ‌by Iran and the United States," said Michael ‌Wan, senior currency analyst at Mitsubishi UFJ Financial Group in Singapore.

"It sounds like it's quite ‌close, but they're not exactly at the finish line."

The US dollar index, which ‌measures the greenback's strength against a basket of six currencies, was flat at 99.68 after slumping to its weakest in a week on Thursday.

Investors have flocked to the safe-haven dollar when tension in the Iran war has flared, and sold it to buy stocks when peace talks ‌have appeared to make progress.

"For today, the market will again be headline-driven. Will Vice President JD Vance be getting ⁠on a plane ⁠to Europe to sign some kind of agreement?" asked Chris Turner, global head of markets at ING.

"And more importantly, will we receive confirmation from Iran that it is happy with a deal and will also be sending a delegation to Europe this weekend? Expect the dollar to be bounced around."

Data on Thursday showed US producer prices increased more than expected in May, ahead of Kevin Warsh's first rate-setting meeting as chair of the Federal Reserve next week.

Traders expect the Fed to keep rates steady at 3.5% to 3.75%but see a more than 50% chance that it raises them by the end of the year, with pricing pulled slightly lower on Thursday by Trump's comments about a potential deal.

In cryptocurrencies, bitcoin was up 0.1% at $63,430 but down 13% for the month so far.