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Human Capability Initiative kicks off to redefine the future of skills and work

Human Capability Initiative kicks off to redefine the future of skills and work
With the theme “Beyond Readiness,” the two-day conference seeks to explore how individuals, institutions, and nations can stay ahead of disruptive shifts in technology, economics, and societal needs. AN Photo
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Updated 13 April 2025

Human Capability Initiative kicks off to redefine the future of skills and work

Human Capability Initiative kicks off to redefine the future of skills and work

RIYADH: The Human Capability Initiative 2025 kicks off today in Riyadh, bringing together global leaders to explore how education, technology, and policy can shape future-ready societies and resilient workforces.

Held under the patronage of Crown Prince Mohammed bin Salman at the King Abdulaziz International Conference Center, the event has become a key platform for rethinking education, workforce transformation, and policy innovation amid rapid global change.

With the theme “Beyond Readiness,” the two-day conference seeks to explore how individuals, institutions, and nations can stay ahead of disruptive shifts in technology, economics, and societal needs by investing in future-ready skills and inclusive development strategies.

Anas Al-Mudaifer, CEO of the Human Capability Development Program, told Arab News: “We believe that human development is key to driving sustainable and inclusive growth.”

He added: “In a world being shaped by technology, shifting economic priorities, and evolving societal needs, it has never been more important to empower individuals with future-ready skills. It’s not just about responding to change but staying ahead of it.”

Over the two days, HCI 2025 is set to bring together more than 12,000 experts, policymakers, corporate leaders, investors, and academics from over 100 countries. More than 300 speakers will lead 120 dialogue sessions, panel discussions, and interactive workshops, examining the critical role of human capability development in driving economic and societal growth.




HCI 2025 will welcome a diverse lineup of thought leaders, ministers, and industry pioneers, including representatives from global organizations, Fortune 500 companies, and top academic institutions. AN Photo

Running alongside the conference is the Education Global Exhibition, organized by the Ministry of Education, which underscores the link between learning ecosystems and workforce transformation.

HCI 2025 is scheduled to explore three core themes, seamlessly integrated into both discussions and interactive spaces.

The first theme, “Harnessing the Ways We Learn,” delves into innovations in lifelong learning, upskilling, and reskilling, ensuring individuals remain adaptable in a rapidly shifting global landscape.

Al-Mudaifer emphasized the urgency of this focus, noting that by 2030, the World Economic Forum projects technological advancements will create 170 million new jobs while displacing approximately 92 million.

“Moreover, an estimated 44 percent of workers’ core skills are expected to shift within just the next five years,” he said. “This signals a powerful opportunity to rethink how we support individuals in building the skills they need to grow, adapt, and thrive in a changing world.”

The second theme, “Honoring the Ways We Belong,” focuses on ethics, social cohesion, and well-being, highlighting how inclusive communities and resilient environments can sustain human development.

The third theme, “Harmonizing the Ways We Act,” examines cross-sector partnerships and seeks to identify scalable, lasting impact strategies that unify policymakers, businesses, and change-makers.

Sessions are expected to cover a wide range of pressing topics, from the impact of artificial intelligence on workforce dynamics and global equity in education to the role of research and innovation in shaping tomorrow’s economies.

Al-Mudaifer explained that this year’s conference builds on the success of its first edition by moving “from preparation to participation, from adaptation to innovation.”

He added: “We’re delving deeper into critical areas such as artificial intelligence, sustainability skills, and strategies for building more connected, adaptable workforces.”

To facilitate these discussions, HCI 2025 features five dynamic platforms. The “#BeyondReadiness Arena” will serve as the main stage for high-profile keynotes, ministerial panels, and strategic global discussions.

The HCI Dialogues will offer interactive expert-led discussions that encourage cross-sector engagement. The Success Stage will be dedicated to showcasing inspiring case studies and real-world success stories.

The “Learn, Act, Belong Stage” will provide a multi-functional area featuring immersive experiences, innovation showcases, and emerging trends. The Mastery Stage will focus on hands-on skill development and specialized training workshops.

Among the standout sessions, the opening keynote will outline a “New Vision for How We Live, Work, and Thrive.” Other highly anticipated discussions include “Macroeconomic Insights: The New World of Work,” “Beyond Productivity — Redefining Human Value in the Age of AI,” and “Global Equity and Access: Engineering the Great Equalization.”

Al-Mudaifer highlighted the practical implications of this year’s theme, stating that it challenges us to rethink how we prepare individuals for the evolving world of work. “It’s about equipping people with the tools to lead, innovate, and thrive in an ever-changing landscape, both locally and globally,” he said.

HCI 2025 will welcome a diverse lineup of thought leaders, ministers, and industry pioneers, including representatives from global organizations, Fortune 500 companies, and top academic institutions.

Key figures set to speak include Minister of Education Yousef Al-Benyan, top executives from global corporations and technology firms, as well as academics and policymakers specializing in future workforce strategies.

Several special sessions will stand out, including “The Brain Revolution: How Our Bodies Can Unlock Superhuman Learning Potential,” a deep dive into neuroscience and human cognition.




Sessions are expected to cover a wide range of pressing topics, from the impact of artificial intelligence on workforce dynamics and global equity in education to the role of research and innovation in shaping tomorrow’s economies. AN Photo

“The Role of a Historian in a Data and AI World” will explore the intersection of history, technology, and human connection. “Redefining Environments for Inclusive Capabilities” will discuss designing accessible workplaces.

“Mastering the Mind: How the Psychology of Winning Builds Resilience and Adaptability” will examine mental resilience in both sports and business. Additionally, the conference will feature success stories, showcasing transformative initiatives such as Saudi in Silicon Valley, The Rise of Women's Basketball in Ƶ, and The Comedy Pod Story.

Al-Mudaifer also addressed the role of AI and automation, emphasizing that the focus should be on how tools like AI can amplify human potential rather than replace it. “Our HCI program underscores the value of human-machine collaboration, showcasing how technology can complement human capabilities rather than compete with them,” he said.

As part of Saudi Vision 2030, the Human Capability Development Program is committed to empowering Saudi citizens and enhancing their global competitiveness. With a strong emphasis on future-focused education, workforce transformation, and lifelong learning, HCI 2025 serves as a crucial milestone in this journey.

Al-Mudaifer noted that HCI is central to this effort, serving as a global platform that unites experts and thought leaders from around the world. “Human capability development is a collective issue — addressing its challenges requires collaboration and the exchange of best practices,” he said.

Beyond Ƶ, the initiative also seeks to foster international partnerships, offering a global stage to exchange insights, forge collaborations, and drive meaningful action.

With discussions spanning economic growth, AI’s transformative role, and equity in education, HCI 2025 is poised to shape the global discourse on human capability development for years to come.


SME lending in Ƶ surges past $112bn

SME lending in Ƶ surges past $112bn
Updated 22 October 2025

SME lending in Ƶ surges past $112bn

SME lending in Ƶ surges past $112bn

RIYADH: Lending to small, medium, and micro enterprises in Ƶ reached a record SR420.7 billion ($112.18 billion) by the end of the second quarter of 2025, up 37 percent from the same period last year, official data showed.

This represents an increase of more than SR113.3 billion compared with the second quarter of 2024, when SME facilities stood at SR307.4 billion, the Saudi Press Agency reported, citing data from the Saudi Central Bank, also known as SAMA.

On a quarterly basis, SAMA’s monthly statistical bulletin for August reported that lending increased 10 percent from SR383.2 billion at the end of the first quarter, adding SR37.5 billion in new credit.

It also aligns with Vision 2030’s target to increase SME contributions to gross domestic product from 30 percent to 35 percent. With more than 1.8 million SMEs operating in the Kingdom, supporting this sector financially is not just a policy goal but a macroeconomic necessity.

“The bulletin indicated that the facilities provided by the banking sector amounted to SR402.1 billion, constituting about 96 percent of the total facilities, while the facilities provided by the financing companies sector amounted to SR18.6 billion,” the SPA report stated. 

Medium-sized enterprises received the largest share of bank lending, securing SR198.9 billion, about 49 percent of total banking facilities. Small enterprises, meanwhile, dominated the financing companies’ portfolio, with SR8.5 billion, representing 46 percent of that sector’s total.

Overall, medium enterprises led total SME facilities with SR206.4 billion, representing 49 percent, followed by small enterprises at SR154.2 billion, or 37 percent, and micro enterprises at SR60.1 billion, accounting for 14 percent.

According to the General Authority for Small and Medium Enterprises, medium enterprises are defined as those with revenues between SR40 million and SR200 million or 50–249 employees.

Small enterprises have revenues of SR3 million to SR40 million, or six to 49 employees, while micro enterprises generate less than SR3 million or employ one to five people.


OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General
Updated 22 October 2025

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

JEDDAH: Global demand for oil is expected to reach around 123 million barrels per day by 2050, with the crude maintaining the largest share of the global energy mix at nearly 30 percent, OPEC Secretary-General Haitham Al-Ghais said.

Speaking at a conference in Kuwait on Oct. 22, Al-Ghais said demand for all types of fuel will continue to rise through 2050 and beyond, driven by population growth, economic expansion, rising urbanization, and the emergence of new energy-intensive industries, the Saudi Press Agency reported.

Al-Ghais added that meeting this projected demand will require massive investments estimated at about $18.2 trillion by 2050.

 


Closing Bell: Saudi main index ends in green at 11,585 

Closing Bell: Saudi main index ends in green at 11,585 
Updated 22 October 2025

Closing Bell: Saudi main index ends in green at 11,585 

Closing Bell: Saudi main index ends in green at 11,585 

RIYADH: Ƶ’s Tadawul All Share Index rose on Wednesday, gaining 40.10 points, or 0.35 percent, to close at 11,585.90. 

The total trading turnover of the benchmark index was SR5.35 billion ($1.42 billion), as 91 of the listed stocks advanced, while only 163 retreated. 

The MSCI Tadawul Index also increased, up 3.47 points, or 0.23 percent, to close at 1,510.94. 

The Kingdom’s parallel market Nomu lost 36.98 points, or 0.15 percent, to close at 25,035.14. This comes as 39 of the listed stocks advanced, while 40 retreated. 

The best-performing stock was CHUBB Arabia Cooperative Insurance Co., with its share price surging 9.91 percent to SR32.84. 

Other top performers included LIVA Insurance Co., which saw its share price rise by 4.57 percent to SR13.50, and Ƶn Oil Co., which saw a 3.75 percent increase to SR25.98.

On the downside, Canadian Medical Center Co. saw the largest drop, with its share falling 8.84 percent to SR8.25. 

Tourism Enterprise Co. fell 8.43 percent to SR15.75, while Naseej International Trading Co. dropped 7.04 percent to SR62.70. 

On the announcements front, the Saudi Investment Bank released its interim financial results for the first nine months of the year. 

Net profit reached SR518.4 million, up 0.11 percent year on year and 1.15 percent compared with the previous quarter. The bank attributed the modest annual increase to a decline in total operating expenses. 

In a statement on Tadawul, the bank said that total operating income had decreased by 3 percent, mainly due to a drop in net special commission income and fair value through the statement of income, partially offset by higher exchange income and fee income from banking services. 

SAIB’s shares traded 1.94 percent lower on the main market to reach SR13.67. 


Egypt’s labor reforms aim to attract Qatari investment 

Egypt’s labor reforms aim to attract Qatari investment 
Updated 22 October 2025

Egypt’s labor reforms aim to attract Qatari investment 

Egypt’s labor reforms aim to attract Qatari investment 

JEDDAH: Egypt and Qatar are set to deepen economic ties, with the North African country’s recent labor law reforms aimed at attracting Gulf investment and improving the business environment. 

Egypt’s Minister of Labor, Mohamed Abdel Aziz Gibran, met in Cairo with Mohamed bin Ahmed Al-Obaidli, a board member of the Qatar Chamber, to discuss boosting bilateral economic cooperation and encouraging Qatari investors to enter the Egyptian market.

The two sides also reviewed Egypt’s labor law and discussed ways to tackle challenges facing investors in the country’s labor market, according to the Qatar News Agency.

In mid-April, the two countries agreed to pursue a package of $7.5 billion in direct Qatari investments. The move comes as Egypt steps up efforts to secure funding from Gulf neighbors and other foreign partners to address high foreign debt and a large budget deficit. 

“During the discussions, HE the Minister reviewed the latest amendments to the Egyptian Labor Law, which include the establishment of an emergency fund to support workers and struggling companies, as well as the creation of an entity dedicated to training and upgrading workers’ skills,” QNA reported. 

It added that the Egyptian official said the new law seeks to create a more favorable work environment and promote a stable, secure climate for investors in Egypt. 

The meeting also reviewed the outcomes of Gibran’s recent visit to Qatar, during which he met with representatives of the Qatari private sector. 

“The visit resulted in positive understandings aimed at strengthening cooperation in the fields of labor, training, and employment,” the QNA report added. 

Al-Obaidli praised the strong fraternal ties between the countries, emphasizing the Qatar Chamber’s commitment to broadening cooperation across economic, commercial, and investment sectors. 

Egypt enacted Labor Law No. 14 of 2025, which took effect on Sept. 1, fully replacing previous labor legislation. 

The law introduces a wide range of reforms designed to modernize labor relations, enhance workers’ rights, and align with international labor standards.

It requires employers to provide annual salary increments, recognizes modern work arrangements such as remote work, part-time roles, flexible hours, and job sharing, and obliges them to contribute to a workforce training fund. 

The law also updates notice periods for resignations, extends maternity and paternity leave provisions, allows longer childcare leave, and regulates annual leave entitlements, including special provisions for disabled employees. 


Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn 

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn 
Updated 22 October 2025

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn 

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn 

RIYADH: Sovereign wealth funds from the Middle East and Asia are driving a resurgence in global mergers and acquisitions, with deal volumes surpassing $3.5 trillion since the start of the year, Asharq Business reported. 

The surge marks a 34 percent increase over the previous year, putting 2025 on track to be the strongest year for M&A since 2021. The third quarter alone saw over $1.3 trillion in deals, driven by a number of mega-transactions, according to data compiled by Bloomberg. 

The flurry of activity has been led by mega-deals involving some of the world’s deepest-pocketed state-backed funds. 

On Oct. 21, Blackstone Inc. and TPG Inc. agreed to acquire medical device maker Hologic Inc. for up to $18.3 billion, including debt. The deal features the Abu Dhabi Investment Authority and Singapore’s sovereign wealth fund GIC Pte as minority investors. 

In a separate transaction last week, BlackRock Inc. partnered with MGX, an AI firm backed by Abu Dhabi’s Mubadala Investment Co., in a $40 billion deal to acquire Aligned Data Centers. 

The week prior, Carlyle Group Inc. entered a partnership with the Qatar Investment Authority to purchase the coatings unit of BASF SE in a deal that valued the unit at €7.7 billion ($8.9 billion). 

In a landmark transaction in September, Ƶ’s Public Investment Fund, chaired by Crown Prince Mohammed bin Salman, completed the acquisition of video game giant Electronic Arts Inc. to take it private. This leveraged buyout, valued at $55 billion, stands as the largest of its kind in history. 

Beyond participating with private equity, sovereign wealth funds are aggressively expanding their in-house investment teams to execute more direct investments. This strategy allows them to capture profits without paying fees to Wall Street banks. 

They have also become major backers of private equity funds, successfully negotiating privileges that grant them co-investment rights alongside these funds in exchange for their substantial capital commitments. 

Heavy tech and AI focus 

The technology sector has been a particular focus for these funds. In August, ADIA supported Thoma Bravo’s acquisition of HR software provider Dayforce Inc. for nearly $12 billion. 

MGX, backed by the Abu Dhabi government and overseen by Sheikh Tahnoon bin Zayed Al Nahyan, has invested in OpenAI at a $500 billion valuation. It has also supported Elon Musk’s xAI venture and plans to contribute to the “Stargate” project announced by US President Donald Trump. 

Meanwhile, Singapore’s GIC and the Qatar Investment Authority have both invested substantial capital in OpenAI’s competitor, Anthropic. 

Wall Street sees deals continuing

Senior investment bankers anticipate that the M&A wave will persist. Goldman Sachs has predicted that deal activity will accelerate by year-end, with 2026 potentially setting a new record for the M&A market. 

Sovereign funds continue to hunt for new opportunities. For instance, the asset management arm of Mubadala is reportedly considering a bid for outdoor advertising company Clear Channel Outdoor Holdings Inc., which has a market value of approximately $930 million. 

Their investment interests are also expanding beyond direct acquisitions. Qatar Investment Authority recently participated in an over $2 billion funding round for a new company founded by Hollywood super-agent Ari Emanuel, alongside other investors like Apollo Global Management and Ares Management.