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Tanmiah Food Company, Tyson Foods Strengthen Strategic Partnership at Saudi Event

Part of the meeting between Saudi-based Tanmiah Food Company and US-based Tyson Foods, Inc. Asharq Al-Awsat
Part of the meeting between Saudi-based Tanmiah Food Company and US-based Tyson Foods, Inc. Asharq Al-Awsat
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Tanmiah Food Company, Tyson Foods Strengthen Strategic Partnership at Saudi Event

Part of the meeting between Saudi-based Tanmiah Food Company and US-based Tyson Foods, Inc. Asharq Al-Awsat
Part of the meeting between Saudi-based Tanmiah Food Company and US-based Tyson Foods, Inc. Asharq Al-Awsat

Saudi-based Tanmiah Food Company and US-based Tyson Foods, Inc. met this week in Jeddah to recognize their strategic partnership made in 2022 including the potential growth opportunities across the Kingdom and the Middle East.

The event was held by the Chairman of Tanmiah Food Company, Amr Al-Dabbagh, and joined by Saudi government guests, in addition to the US Consul General in Jeddah and the Commercial Counsul, and a number of private sector officials.

The partnership is well positioned to help sustainably meet the growing demand for poultry in the Kingdom, while also supporting Saudi Arabia’s food security goals and economic growth.

The companies discussed the growing Halal food market and the opportunities it presents to unlock future growth for the partnership. Both companies also discussed future expansion plans to increase the processing capacity of the Supreme Foods Processing Company. As per the partnership agreement, Tyson Foods and Tanmiah will be jointly investing in the expansion of further processing capacity. The expansion is anticipated to increase the total production capacity of Supreme Foods Processing to nearly 100,000 metric tons annually.

“It was an honor to welcome our partners at Tyson Foods to the Kingdom as we build momentum following the recent signing of our strategic partnership that will unlock growth across the Kingdom and improve access to high-quality processed poultry products. We also believe the partnership strengthens our commitment to supporting the Kingdom’s food security and self-sufficiency goals,” said Tanmiah’s CEO Zulifqar Hamadani.

Executive Board Member & Managing Director Ahmed Osilan said: “This partnership will contribute to food security goals and bring global expertise, standards and technology to the Saudi poultry market, supporting the Kingdom’s non-oil economy while also generating hundreds of jobs.”

Tyson Foods President, International and Chief Administrative Officer Amy Tu said that a key part of his company’s strategic plan is to meet the growing global demand for protein and to serve customers and consumers with products tailored to the local market and region.

He said the partnership with Tanmiah Food “will allow us to address that plan, especially the growing demand for Halal food. We are excited to build a long-term partnership and drive future economic activity in the Kingdom.”

As for TAN Sun, President, Tyson Foods Asia Pacific, he said: “We are committed to working together to drive operational excellence and deliver high-quality poultry products across the region. We are aligned on the need for future expansion across the value chain and improvements to production processes. We look forward to further collaboration.”

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Business

Saudi Women Help Steady Unemployment at End of 2025

The unemployment rate among Saudi women fell by 1.8 percentage points to 10.3 percent compared with the third quarter of 2025. (SPA)
The unemployment rate among Saudi women fell by 1.8 percentage points to 10.3 percent compared with the third quarter of 2025. (SPA)
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Saudi Women Help Steady Unemployment at End of 2025

The unemployment rate among Saudi women fell by 1.8 percentage points to 10.3 percent compared with the third quarter of 2025. (SPA)
The unemployment rate among Saudi women fell by 1.8 percentage points to 10.3 percent compared with the third quarter of 2025. (SPA)

In a sign of the profound changes reshaping Saudi Arabia’s labor market, Saudi women emerged as a key factor in keeping unemployment stable at the end of 2025, helped by higher economic participation and growing job opportunities across a range of vital sectors.

The labor force participation rate for Saudi women rose by 0.8 percentage point to 34.5 percent in the fourth quarter of last year, underlining the success of empowerment programs and reforms linked to Vision 2030.

The gains have strengthened the presence of Saudi women in the labor market not only in terms of numbers, but also in their contribution to greater balance and sustainability in employment, supporting the stability of economic indicators and improving labor market efficiency over the longer term.

According to the latest indicators released on Tuesday by the General Authority for Statistics (GASTAT), the Saudi labor market ended 2025 on a strong note, reflecting the scale of the economic transformation under way in the Kingdom.

Fourth-quarter results showed continued improvement in employment indicators, lower unemployment and higher participation rates, pointing to the success of empowerment programs and structural reforms tied to Vision 2030.

Based on Labor Force Survey estimates, the overall unemployment rate for Saudis and non-Saudis stood at 3.5 percent in the fourth quarter of last year, up 0.1 percentage point from the third quarter of the same year and unchanged from the fourth quarter of 2024.

The overall labor force participation rate for Saudis and non-Saudis reached 67.4 percent, rising 0.5 percentage point from the third quarter and 1 percentage point year on year.

Among Saudis, the unemployment rate stood at 7.2 percent in the fourth quarter of last year, down 0.3 percentage point from the third quarter of the same year but up 0.2 percentage point from the corresponding period of 2024.

The employment-to-population ratio for Saudis rose by 0.6 percentage point from the third quarter to 45.9 percent, although it was down 1.6 percentage points from a year earlier.

Saudi labor force participation increased by 0.5 percentage point in the final quarter of 2025 from the third quarter to 49.5 percent, while recording a year-on-year decline of 1.6 percentage points compared with the same period in 2024.

Labor market indicators for the fourth quarter also showed that the participation rate of Saudi women in the labor force rose by 0.8 percentage point to 34.5 percent, while the employment-to-population ratio for Saudi women increased by 1.3 percentage points to 31 percent.

The unemployment rate among Saudi women fell by 1.8 percentage points to 10.3 percent compared with the third quarter of 2025.

For Saudi men, the labor force participation rate rose by 0.4 percentage point to 64.7 percent, while the employment-to-population ratio was unchanged at 61.1 percent. The unemployment rate among Saudi men rose to 5.6 percent compared with the third quarter of 2025.

Business

Gold slides 14% in March Despite War, Testing Safe-Haven Status

A goldsmith weighs gold jewellery inside a showroom in Ahmedabad, India, July 31, 2025. (Reuters)
A goldsmith weighs gold jewellery inside a showroom in Ahmedabad, India, July 31, 2025. (Reuters)
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Gold slides 14% in March Despite War, Testing Safe-Haven Status

A goldsmith weighs gold jewellery inside a showroom in Ahmedabad, India, July 31, 2025. (Reuters)
A goldsmith weighs gold jewellery inside a showroom in Ahmedabad, India, July 31, 2025. (Reuters)

Gold defied its traditional role as a crisis hedge in March, posting its steepest monthly fall since October 2008. The metal dropped more than 14% over the month - its sharpest decline in over 17 years - despite heightened geopolitical tensions in the Middle East, prompting questions about whether gold’s safe-haven function is weakening or being reshaped by shifts in investor behavior and monetary policy.

The sell-off coincided with a roughly 2% rise in the US dollar since the outbreak of conflict involving the United States, Israel and Iran in late February.

Fahd Iqbal, head of investment services at Union Bancaire Privée (UBP), pointed to two main factors that drove the decline. Investors often liquidate top-performing assets during periods of stress to cover losses or meet margin calls, he told Asharq Al-Awsat, noting gold had been among the strongest performers over the past two years. Similar dynamics were seen during crises in 2008 and 2020.

Rising energy costs also lifted inflation expectations and led markets to price in potential interest rate hikes, putting pressure on non-yielding assets such as gold, Iqbal added.

Mohammed Farraj, senior head of asset management at Arbah Capital, cited a surge in US Treasury yields as another key factor, offering investors a more attractive alternative.

Expectations of tighter Federal Reserve policy have boosted the dollar, making gold costlier for non-dollar holders and encouraging profit-taking after earlier gains, he said.

In remarks to Asharq Al-Awsat, Farraj described the drop as a “healthy and natural correction,” noting that declines of 10 to 20% are typical in rebalancing supply and demand after strong rallies.

Markets also appeared less sensitive to geopolitical tensions than usual. Neal Keane, Head of Global Sales Trading at ADSS, said investors have become less reactive to political rhetoric, though geopolitical risks remain central.

Any diplomatic breakthrough could still trigger sharp cross-asset moves, he added.

Views diverged on the nature of the drop. Al-Farraj said a routine correction, while Keane argued it may reflect a broader “inflation shock” alongside pressure on global equities.

Iqbal, for his part, said the decline is driven by liquidity needs rather than a structural shift, maintaining a positive long-term outlook.

Most analysts agree gold has not lost its core role but has become more sensitive to monetary policy and investor positioning.

Keane said the metal has at times behaved more like a risk asset, reflecting strong recent gains and increased speculative activity.

Iqbal noted that gold remains attractive in stagflationary or slowing economic environments, conditions that persist globally.

Business

Al Dardari to Asharq Al-Awsat: War Escalation Drives Huge Surge in Losses

Abdallah Al Dardari, Assistant Secretary-General of the UN and Director of UNDP’s Regional Bureau for Arab States (Turky Alagili)
Abdallah Al Dardari, Assistant Secretary-General of the UN and Director of UNDP’s Regional Bureau for Arab States (Turky Alagili)
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Al Dardari to Asharq Al-Awsat: War Escalation Drives Huge Surge in Losses

Abdallah Al Dardari, Assistant Secretary-General of the UN and Director of UNDP’s Regional Bureau for Arab States (Turky Alagili)
Abdallah Al Dardari, Assistant Secretary-General of the UN and Director of UNDP’s Regional Bureau for Arab States (Turky Alagili)

With the release of a special report by the Development Programme on the economic fallout of escalating tensions in the region, Abdallah Al Dardari, Assistant Secretary-General of the UN and Director of UNDP’s Regional Bureau for Arab States said the region is facing an “accelerating economic shock” hitting energy markets, growth, and livelihoods.

Speaking to Asharq Al-Awsat, he warned nearly 4 million people could fall into poverty within a month, calling it an unprecedented indicator of the economic toll of war.

Losses, he said, could rise rapidly if fighting continues, alongside shifts in energy routes, supply chains, and development models.

Estimates based on simulations

Al Dardari said the shock has been sharp and sudden, with losses expanding rapidly over a short period. Current estimates remain based on simulation models, as there has not been enough time to measure real impacts precisely.

The methodology draws on models used in past crises, including Gaza and Lebanon, which later proved highly accurate. The report focuses on broad trends rather than precise figures, particularly in GDP, to track the direction of economic impact.

Losses mounting

The report outlines wide-ranging effects, including declining trade, disruptions in petroleum flows, a worsening investment climate, and growing pressure on public finances.

“After four weeks of war, the impact is very large,” Al Dardari said.

“The Strait of Hormuz is closed, oil exports have been severely affected, and we are moving toward the worst-case scenario.”

He said production inputs have been severely disrupted and infrastructure has been damaged, pushing expected losses closer to $194 billion than $120 billion.

The scenarios are based on one month of fighting. If the conflict continues even one more week, losses would not rise incrementally but multiply, he warned.

GDP losses are highest in Gulf economies due to the hit to oil and energy, while poverty is expected to surge most in the Levant, where rising energy costs quickly drive up food prices.

“The number of poor could increase by around 4 million in a single month,” he said, noting such a jump would normally take years.

Energy routes shifting

Countries are scrambling to contain the shock, repair damage, and secure alternative supply lines.

Saudi Arabia is relying more on pipelines to Yanbu on the Red Sea, while Iraq and Syria are holding serious talks to move crude and petroleum products overland.

“This is a shift toward building alternatives and more diversified, resilient supply chains,” Al Dardari said, adding that the UNDP is supporting efforts to strengthen regional connectivity and trade routes.

Syria’s corridor role

On proposals to bypass the Strait of Hormuz through Syria, Al Dardari said the country has historically served as a regional transit hub linking trade routes.

He pointed to Syria’s “Five Seas” strategy in 2007–2008, which aimed to connect the Caspian, Black, Red, and Mediterranean seas, and the Arabian Gulf through pipelines, rail, roads, and energy grids.

At the time, the plan was backed by a comprehensive development strategy and relatively mature institutions. Today, however, regulatory and legal frameworks for cross-border investment remain underdeveloped, despite ongoing efforts to improve them.

He said the UNDP is ready to support countries in building the technical and institutional capacity needed to pursue such projects.

Opportunity amid crisis

Despite the downturn, Al Dardari said Syria, Jordan, and Lebanon have an opportunity to form a quasi-regional bloc and revive their role as a bridge linking Gulf economies with Türkiye and Europe through alternative supply chains.

But he cautioned this would require more than infrastructure, including stronger institutions, financial systems, and coordination across sectors and borders, as well as “regulatory convergence.”

Rethinking development

The crisis is also forcing a reassessment of development models.

“If 90% of oil and gas exports depend on the Strait of Hormuz, why were alternatives not developed?” he said, noting tensions in the region are not new.

He called for diversification of economies and labor markets, and deeper regional and global integration. While existing models delivered low poverty and strong growth, they have shown vulnerability to shocks.

“We face a more complex reality, with more shocks likely. We need more flexible and effective tools,” he said, adding that current strategies remain valid but may need more efficient pathways.

Rewriting reconstruction

Al Dardari said recovery in Gaza, Syria, and Lebanon can no longer rely on large external funding flows, shifting the burden to governments already facing rising poverty.

He questioned continued reliance on Gulf funding and called for innovative, sustainable recovery models.

The UNDP’s approach focuses on agriculture, local value chains, and affordable housing, drawing on global experience.

He said small and medium-sized enterprises offer a “sustainable alternative” due to their resilience, while strengthening education and healthcare is key to building a new social contract and stabilizing institutions.