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Saudi Arabia Among Top 10 in Vocational Skills Globally

Saudi Arabia ranks among the top 10 countries in the world for the overall business acumen of its workforce, according to the latest Global Skills Report from Coursera. (Asharq Al-Awsat)
Saudi Arabia ranks among the top 10 countries in the world for the overall business acumen of its workforce, according to the latest Global Skills Report from Coursera. (Asharq Al-Awsat)
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Saudi Arabia Among Top 10 in Vocational Skills Globally

Saudi Arabia ranks among the top 10 countries in the world for the overall business acumen of its workforce, according to the latest Global Skills Report from Coursera. (Asharq Al-Awsat)
Saudi Arabia ranks among the top 10 countries in the world for the overall business acumen of its workforce, according to the latest Global Skills Report from Coursera. (Asharq Al-Awsat)

Saudi Arabia ranks among the top 10 countries in the world for the overall business acumen of its workforce, according to the latest Global Skills Report from US-based giant open online course provider Coursera.

Learners in the Kingdom demonstrated 91 % business acumen proficiency with strengths in accounting, human resources, and strategy and operations.

The Global Skills Report urged leaders of the nation’s workforce to find ways to build on this advantage and expand into additional business skills such as finance, business analysis and digital marketing.

Moreover, the report stated that as the Kingdom transitions to a more sustainable economy, leaders in industry, workforce development and higher education should reinforce their workforce strengths. A World Economic Forum report said Saudi Arabia was one of the top 10 countries globally for digital literacy.

Saudi learners showed cutting-edge proficiency levels in human resources (97%), followed by accounting, and strategy and operations (93% each), sales (89%), leadership and management (88%), and communications (84%).

Learners have cutting-edge technology skills in security engineering (96%), computer networking (87%) and operating systems (76%), and the skills are competitive in software engineering (62%).

In the emerging category in the database, Saudi learners recorded 44% and 40% in mobile development.

They achieved 21% in each of computer programming and cloud computing and 11% web development.

In data science skills, learners in the Kingdom showed emerging skills in mathematics (38%), but lagged behind in machine learning (19%), data analytics (16%), and data management (12%).

While the Kingdom has improved its overall business skills proficiency ranking from 11th to 10th globally, competencies in technology and data science could be further improved, the report suggested, especially with the goals of digital transformation outlined to fulfill Vision 2030.

Saudi Arabia ranks 62nd globally in technology skills proficiency and 88th in data science proficiency.

The Global Skills Report draws on data from 100 million learners in more than 100 countries who have used Coursera over the past year to develop a new skill.

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China's Industrial Profits Narrow Decline but 2024 Likely Worst Year in Decades

An employee works at a carbon fibre production line inside a factory in Lianyungang, Jiangsu province, China October 27, 2018. REUTERS/Stringer
An employee works at a carbon fibre production line inside a factory in Lianyungang, Jiangsu province, China October 27, 2018. REUTERS/Stringer
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China's Industrial Profits Narrow Decline but 2024 Likely Worst Year in Decades

An employee works at a carbon fibre production line inside a factory in Lianyungang, Jiangsu province, China October 27, 2018. REUTERS/Stringer
An employee works at a carbon fibre production line inside a factory in Lianyungang, Jiangsu province, China October 27, 2018. REUTERS/Stringer

China's industrial profits fell at a slower clip in November, official data showed on Friday, but the annual decline in earnings this year is expected to be the worst in over two decades due to persistently soft domestic consumption.

The world's second-largest economy has been struggling to mount a strong post-pandemic revival, as business and household appetites for spending and investment remain subdued amid a prolonged housing downturn and fresh trade risks from the incoming US administration of President-elect Donald Trump.

Industrial profits fell 7.3% in November from the same month last year, following a 10% drop in October, National Bureau of Statistics (NBS) data showed, Reuters reported.

The narrower decline in November pointed to improved profits as recent economic stimulus measures start to have an effect, said Zhou Maohua, a macroeconomic researcher at China Everbright Bank.

The profit numbers were also in line with a slower decline in factory-gate prices in November. The producer price index fell 2.5% year-on-year versus the 2.9% drop in October.

The World Bank on Thursday revised up its 2024 economic growth forecast for China slightly to 4.9% from its June forecast of 4.8%.

Still, in the first 11 months of 2024, industrial profits declined 4.7%, deepening a 4.3% slide in the January-October period, reflecting still tepid private demand in the Chinese economy.

China's full-year industrial profits are set to show their biggest drop in percentage terms since 2011. However, when smaller companies are included under a previous compilation methodology, this year's profit decline is expected to the worst since at least 2000.

A spate of economic indicators released this month pointed to mixed results, with industrial output accelerating in November while new home prices fell at the slowest pace in 17 months.

The industrial sector is undergoing an uneven recovery amid insufficient demand, Zhou said, pointing to difficulties facing real estate and some related industries as evidence of this malaise.

China's leaders vowed in a key policy meeting this month to raise the deficit, issue more debt and loosen monetary policy to maintain a stable economic growth rate. The government also recently pledged to step up direct fiscal support to consumers and boosting social security.

Beijing has agreed to issue a record $411 billion special treasury bonds next year, Reuters reported.

Profits at state-owned firms fell 8.4% in the first 11 months, foreign firms posted a 0.8% decline and private-sector companies recorded a 1% fall, according to a breakdown of the NBS data.

Industrial profit numbers cover firms with annual revenues of at least 20 million yuan ($2.7 million) from their main operations.