Qatar ranked second globally for labor market performance in the 2026 IMD World Competitiveness Yearbook, highlighting the country’s labor-market efficiency, flexibility and ability to attract and retain skilled professionals, according to QNA.

Qatar Chamber Acting General Manager Ali Bu Sherbak Al Mansori said the ranking reflects the impact of economic, legislative and regulatory reforms that have made the labor market more attractive and competitive while safeguarding the interests of both workers and employers.

He said the result would strengthen confidence among local and international businesses while helping private-sector companies attract the specialized talent needed to expand and compete regionally and globally.

Qatar also ranked first regionally and among the world’s five most economically resilient economies in the 2026 IMD World Competitiveness Yearbook. The country placed first globally for its balance of trade and recorded the world’s lowest unemployment, youth unemployment and long-term unemployment rates. It also maintained one of the world’s highest national savings rates.

The second-place labor market ranking falls under IMD’s Business Efficiency pillar and comes as countries compete more intensely to attract investment and skilled professionals.

Separately, Qatar ranked first in the Middle East and North Africa and 27th globally in the 2025 Global Peace Index, climbing two places from the previous year. It also ranked eighth globally and first in the Arab world as one of the safest and most peaceful countries.

In the 2025 IMD World Competitiveness Yearbook, Qatar entered the global top 10 for the first time, ranking ninth overall. Its Business Efficiency ranking improved from 11th to fifth, while Economic Performance and Government Efficiency remained seventh.

Infrastructure advanced by three places, supported by continued investment in transport, education, healthcare and digital systems. Qatar also ranked among the world’s top 20 economies in the 2025 IMD World Digital Competitiveness Ranking.

The labor market’s performance follows the launch of Qatar’s National Workforce Strategy 2024–2030, which comprises 16 initiatives and 55 projects covering citizens, expatriate workers and employers across the government, private and mixed sectors.

The strategy targets annual labor productivity growth of 2%, an increase in Qatari workforce participation to 58% from 54%, and a rise in the share of Qataris employed in private and mixed sectors to 20% from 17%. It also aims to integrate 16,000 Qataris into private-sector employment, increase the share of highly skilled expatriate workers to 24% from 20%, and create more high-quality private-sector jobs by 2030.

The broader strategy targets average annual economic growth of 4%, supported by expanded gas production, economic diversification, specialized industry clusters and private-sector innovation. It also aims for 46% of the workforce to be highly skilled and for more than 20% of the national workforce to be employed in private and public-private sectors, positioning labor-market efficiency as a key driver of investment, business growth and sustainable development.

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Trading activity on the Dubai Financial Market (DFM) increased sharply in the first half of 2026, with traded value rising 40.4% year on year to $32.5 billion as 42,864 new investors joined the market.

Average daily traded value climbed 45.1% to $273 million, while the average number of daily trades increased 35.4% to approximately 18,800. Total trades rose 31% to 2.2 million across 119 trading days, compared with 123 trading days in the first half of 2025.

DFM Chairman Helal Saeed Al Marri attributed the strong performance to Dubai’s robust economic fundamentals, expanding financial ecosystem and continued interest from international investors. He said the exchange would continue developing transparent, liquid and globally connected capital markets in line with the Dubai Economic Agenda D33.

International investors accounted for 71.4% of new investor registrations during the period, underscoring the market’s appeal to overseas participants. Institutional investors accounted for 71.2% of total trading value, up from 70.8% a year earlier, while foreign investors accounted for 51% of overall trading activity.

Foreign ownership increased to 20.1% of total market capitalization, compared with 20% in the first half of 2025, while institutional ownership reached 86.5%.

DFM CEO Hamed Ali said the first-half results reflected strong liquidity and a diverse investor base. He added that the exchange would continue to broaden investment opportunities, strengthen market infrastructure and expand its range of products and services.

Market capitalization stood at $267.3 billion at the end of June, down 1.4% from $271.1 billion a year earlier. The DFM General Index closed the period at 5,956 points.

DFM reported revenue of $151.7 million for the first half, down from $242 million in the same period last year, which included $125.9 million in one-off income from the sale of an investment property.

First-half revenue comprised $104.8 million in operating income and $46.9 million in investment returns and other income.

Net profit before tax declined to $120.7 million from $211.6 million a year earlier. Expenses, excluding tax, edged up to $31 million from $30.4 million, reflecting continued investment in market infrastructure and technology.

In the second quarter, revenue totalled $82.8 million, compared with $191.3 million in the same period last year, while net profit before tax reached $68.1 million, down from $174.9 million.

DFM said it will continue to focus on increasing market liquidity, widening investor access and strengthening the infrastructure and product offering that support Dubai’s capital markets.

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Saudi Arabia’s push to build an AI-ready workforce has reached a new milestone, with more than 51,000 people from 170 countries registering for a training initiative to develop practical AI skills.

The AI Training Hackathon, organized by Kanz in partnership with the Ministry of Human Resources and Social Development, attracted 51,693 registrations during an eight-day online program featuring six evenings of live instruction. Of those, 24,816 participants attended the sessions live, while 14,075 people simultaneously joined an AI lesson, earning a Guinness World Record for the largest attendance at an AI video lesson.

The initiative reflects Saudi Arabia’s broader ambition to strengthen its AI ecosystem by combining investments in cloud infrastructure, advanced computing, data centers, and research with large-scale workforce development under Vision 2030.

By the end of the program, participants had built more than 3,400 AI-powered applications and received over 21,000 certificates. Graduates also left with online portfolios designed to showcase their work to prospective employers.

“The record is the headline. The transformation is the point,” Roy Baladi, founder and CEO of Kanz, told Arab News. “Every participant ends the week having built a working AI app — not watched a lecture about one.”

Unlike many AI courses that focus primarily on theory, the hackathon emphasized hands-on learning. Over eight evenings, participants used no-code platforms to build AI tools, automate workflows, create research assistants, generate presentations and multimedia content, and develop business solutions before combining those skills into a final application.

The program required no prior coding experience and was delivered in both Arabic and English, making it accessible to students, entrepreneurs, and professionals from a wide range of backgrounds.

Baladi said lowering technical barriers is essential to making AI a practical workplace tool rather than a specialist discipline.

“If you can write an email, you can build with AI,” he said.

Saudi Arabia accounted for a significant share of participation, with more than 19,000 registrations from within the Kingdom, including over 10,000 Saudi nationals. More than 9,100 participants attended the training sessions live from Saudi Arabia and collectively developed more than 1,900 AI projects.

“The hunger for AI skills here is enormous and barely tapped,” Baladi said. “Give people a real, free and practical way to learn, and they respond.”

The program comes as AI adoption accelerates across industries, including finance, healthcare, manufacturing, education, and government, driving demand for workers who can apply AI tools regardless of their technical background. Rather than positioning AI as a field reserved for software developers, the initiative focused on practical workplace applications such as workflow automation, content generation, data analysis and productivity enhancement.

Participants also received publicly accessible AI portfolios, along with certificates issued by the Ministry of Human Resources and Social Development and the Lebanese American University’s Academy of Continuing Education. Graduates were additionally offered access to a follow-on AI course and certification developed by Google and the University of Helsinki.

With participants representing more than 170 countries and 140 nationalities, organizers said the program underscores the growing global demand for accessible AI education.

As Saudi Arabia works to establish itself as a global AI hub, initiatives such as the AI Training Hackathon suggest that the Kingdom’s strategy extends beyond infrastructure investment to the development of the talent needed to translate AI capabilities into real-world applications.

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The UAE and Egypt have agreed on a five-year plan to gradually expand air traffic rights between the two countries, paving the way for increased flight capacity and stronger aviation connectivity.

The phased agreement is designed to meet rising passenger demand, create new opportunities for airlines, and support tourism, investment, and trade between the two markets.

The agreement was reached on the sidelines of the 11th edition of the International Civil Aviation Organization (ICAO) AFI Week in Cairo and was signed by Saif Mohammed Al Suwaidi, Director General of the UAE General Civil Aviation Authority (GCAA), and Captain Sameh Fawzy, President of the Egyptian Civil Aviation Authority (ECAA).

Under the framework, both countries will gradually expand air services over the next five years, reflecting growing passenger demand and the increasingly important role of aviation in regional economic development.

Abdulla Bin Touq Al Marri, UAE Minister of Economy and Tourism and Chairman of the GCAA Board, said the agreement reflects the strength of UAE-Egypt relations and the two countries’ shared ambition to enhance regional connectivity.

“The phased expansion of air traffic rights will support the aviation sector, boost tourism, strengthen economic activity, encourage investment, and further advance the strong economic partnership between our two countries,” he said.

Egypt’s Minister of Civil Aviation, Dr. Sameh Ahmed El Hefny, said the agreement marks a new milestone in bilateral aviation cooperation, enabling both countries to respond to growing demand for air travel while reinforcing their positions as regional aviation hubs.

Al Suwaidi said the agreement establishes a balanced framework for the sustainable growth of air services while creating greater opportunities for airlines and travelers in both countries.

The UAE and Egypt are among the region’s most connected aviation markets, with air links playing a vital role in supporting business travel, tourism, trade, and broader economic cooperation.

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Emirati mountaineer Fatima Abdulrahman Al Awadhi has become the youngest Arab to climb above 7,000 meters after successfully summiting Lenin Peak in the Pamir Mountains of Kyrgyzstan.

The 19-year-old reached the 7,134-meter summit, the highest ascent of her mountaineering career to date, just one year after completing her first major expedition to Mount Elbrus, Europe’s highest peak at 5,642 meters.

The three-week expedition consisted of two phases: an acclimatization rotation to prepare for the altitude, followed by the final summit push. Al Awadhi completed the climb above 7,000 meters without supplementary oxygen, a milestone that places her among a select group of high-altitude mountaineers.

The achievement adds to Al Awadhi’s growing list of records. She is the youngest Emirati to summit Mount Elbrus and the youngest Arab to reach the summits of Vinson Massif in Antarctica and Carstensz Pyramid in Oceania. She has also climbed Mount Kilimanjaro, Africa’s highest peak.

At the summit of Lenin Peak, Al Awadhi raised the UAE flag, marking the first time the flag had been flown to the top of the mountain. She also carried a message from President His Highness Sheikh Mohamed bin Zayed Al Nahyan to young people around the world, highlighting the importance of ambition, resilience, hope, and perseverance.

Known for its unpredictable weather, glaciated terrain, and prolonged exposure to extreme altitude, Lenin Peak is considered one of Central Asia’s most challenging high-altitude climbs.

“Standing on the summit of Lenin Peak with the UAE flag wasn’t just the end of a climb; it was a reminder of why I started this journey in the first place,” Al Awadhi said. “Mountaineering has taught me that the greatest rewards come from embracing challenges.”

She said the achievement reflected the importance of supporting young people in pursuing ambitious goals.

“I hope this achievement encourages others, especially young Emiratis and young women, to believe in what is possible when you work for it,” she added.

Having completed four of the Seven Summits, Al Awadhi is now working to finish all seven before the age of 20 while also pursuing the Explorer’s Grand Slam, a challenge that combines reaching the North and South Poles with climbing the highest peak on each continent.

Alongside her mountaineering ambitions, Al Awadhi is pursuing full-time university studies as a recipient of the Presidential Court University Scholarship and the Sheikh Mohamed bin Zayed Scholarship for Outstanding High School Students.

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Nasdaq-listed Energy Recovery will establish a desalination technology manufacturing facility near Dammam Second Industrial City, with the project expected to contribute $36.5 million to Saudi Arabia’s GDP by 2033.

The facility, the company’s first manufacturing plant outside the US, is expected to create more than 50 direct jobs.

According to the Saudi Water Authority, the plant will produce 2,000 energy recovery devices annually, exceeding the estimated domestic demand of around 1,200 units. Around 40% of production is expected to be exported to Gulf Cooperation Council countries and to markets across Africa and Asia.

Energy Recovery said it will establish the 3,750-square-meter facility through its wholly owned Saudi subsidiary, Energy Recovery Co., with production scheduled to begin in the first quarter of 2027.

The Dammam plant will be the California-based company’s first manufacturing operation in Saudi Arabia and its first facility outside the US to produce its proprietary PX Pressure Exchanger technology.

The project comes as Saudi Arabia seeks to expand private-sector participation in its water infrastructure sector. According to the Saudi Press Agency, projects tendered by the Saudi Water Partnership Co. have attracted $14.9 billion in private investment and secured contracted desalination capacity of more than 10 million cubic meters per day.

Mohammed Al-Shaikh, vice president of strategic partnerships and local content at the Saudi Water Authority, said localizing advanced water technologies is critical to strengthening water security and advancing Vision 2030’s goals.

Energy Recovery said the Saudi facility will complement its California operations while supporting technology transfer and the development of local manufacturing capabilities.

The Saudi Water Authority said the plant will localize production of a critical desalination technology that has until now been manufactured exclusively in the US.

The project is expected to achieve a localization rate of more than 80% across the product’s value chain, positioning Saudi Arabia as a regional manufacturing and export hub for energy recovery devices.

The authority estimates the market opportunity for the technology at more than $145.9 million, including approximately $65.9 million in Saudi Arabia and $80 million across the wider Middle East and North Africa region.

Alex Buehler, interim president and CEO of Energy Recovery, said the Saudi facility will complement the company’s California operations while bringing manufacturing capacity closer to key desalination markets.

Saudi Arabia and other Gulf countries rely heavily on desalination to meet drinking water and industrial needs. Energy Recovery said growing regional demand has increased the need to locate manufacturing capacity closer to customers.

The company has supplied the desalination industry for more than 30 years. According to Energy Recovery, its PX Pressure Exchanger technology is used in facilities producing 43.6 million cubic meters of fresh water each day and can reduce energy consumption in seawater desalination by up to 60%.

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Egypt is seeking to attract more Indian manufacturers and industrial developers as it looks to deepen industrial cooperation and investment ties with India, Industry Minister Khaled Hashem said during a meeting with Indian Ambassador to Egypt Suresh K. Reddy.

The meeting focused on expanding bilateral industrial cooperation and identifying investment opportunities across priority sectors, including renewable energy, food processing, automotive manufacturing, pharmaceuticals, and electronics.

Hashem said Egypt aims to translate its strong political and economic relationship with India into tangible industrial projects by strengthening private-sector collaboration and activating the Egyptian-Indian Business Council.

“We welcome both large and medium-sized Indian companies to establish operations in Egypt,” the minister said, adding that the country hopes to leverage India’s industrial technology expertise to develop local workforce capabilities and strengthen industrial integration between the two nations.

He highlighted Egypt’s strategic location, extensive network of trade agreements, skilled workforce, and government investment incentives as key advantages for Indian investors.

Hashem also called for closer coordination between the Ministry of Industry and the Indian Embassy to attract manufacturers to establish production facilities in Egypt and use the country as a regional manufacturing and export hub serving neighboring markets and Africa.

He said successful Indian investments could encourage more companies to enter the Egyptian market. The minister also proposed attracting Indian industrial developers to establish new industrial zones under Egypt’s industrial developer model, helping meet growing demand for fully serviced industrial land.

Reddy said Indian companies view Egypt as a strategic partner and regional hub for manufacturing, exports, and investment, citing its strategic location and economic reforms as key drivers of investor confidence.

He highlighted Indian investments, including TCI Sanmar Chemicals, as examples of the expanding industrial partnership between the two countries.

The ambassador also invited Hashem to attend the BRICS Industry Ministers’ Meeting and proposed holding a roundtable with Indian industrial companies to discuss investment opportunities in Egypt and the incentives available for establishing or expanding industrial operations.

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Egypt implemented around $4.4 billion in green public investments during the 2024/25 fiscal year, with green transport projects accounting for the largest share, according to a government report reviewed by Minister of Planning and Economic Development Ahmed Rostom.

The report highlights the government’s efforts to integrate environmental sustainability into national development plans, expand green public investment, and support the transition to a green economy alongside climate change mitigation and adaptation initiatives.

Green transport projects accounted for 71.5% of total green investments, followed by projects under the presidential Decent Life initiative at 10.5%, sustainable urban development at 8%, environmental improvement at 4.5%, agriculture and irrigation at 3%, clean energy at 1.5%, with the remaining investments allocated to the communications sector.

According to the report, around 87% of green public investments were directed toward climate mitigation projects, while the remaining 13% supported climate adaptation initiatives.

Rostom said the growing share of green public investment reflects the government’s efforts to expand environmentally sustainable projects under Egypt’s National Climate Change Strategy and broader green transition agenda.

He added that the continued increase in green investment has helped improve Egypt’s ranking in the Public Investment Management Assessment (PIMA) from a climate perspective.

The government aims to increase green public investment from 15% of total public investment in FY2020/21 to around 60% by FY2026/27.

Rostom said the target underscores the government’s commitment to advancing sustainable development and accelerating the transition to a green economy by directing more public spending toward environmentally friendly projects, improving resource efficiency, reducing emissions, and strengthening the resilience of key sectors to climate change.

The ministry also plans to integrate environmental sustainability criteria across every stage of the state’s investment planning process, from project preparation and implementation to monitoring and evaluation. The goal is to support more sustainable and inclusive growth, advance Egypt Vision 2030, and strengthen the country’s role in regional and international climate action.

During FY2024/25, green public investments supported several strategic projects, including the Cairo Metro, the high-speed electric rail network, new and renewable energy plants, integrated solid waste management systems, and hazardous medical waste treatment facilities.

Climate adaptation investments included wastewater treatment plants, canal rehabilitation and lining projects, desalination facilities, coastal protection and development initiatives, soil improvement projects, and upgrades to on-farm irrigation systems.

Under the Decent Life initiative, green public investments also funded the construction and modernization of wastewater treatment plants, canal rehabilitation and lining works, and the construction and upgrading of drinking water treatment facilities.

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The Egyptian Tax Authority (ETA) is set to launch a “White List” recognizing the country’s most tax-compliant taxpayers and offering them incentives and priority services as part of its second package of tax facilitation measures aimed at encouraging voluntary compliance.

ETA Head Rasha Abdel Aal said the package introduces reforms designed to improve services for compliant taxpayers, in line with Finance Minister Ahmed Kouchouk’s directives to promote voluntary compliance through incentives and simplified procedures.

The White List will be based on objective, risk-based criteria, with eligible taxpayers selected automatically in accordance with predefined standards, without any human intervention, Abdel Aal said.

Taxpayers included on the list will receive a range of benefits, including expedited VAT refunds, certificates of appreciation, honorary awards, and priority access to specialized services such as the Advance Ruling Unit and the Investor Support Unit. They will also have access to a dedicated hotline.

Those selected will receive a Tax Excellence Card in one of three categories—Platinum, Gold, or Silver—to streamline their interactions with the Authority and provide faster access to services.

The selected taxpayers will be announced and honored at the upcoming “Thank You 2” Conference, Abdel Aal said.

Separately, the ETA will launch a mobile application for real estate transactions, allowing individuals to pay property disposal tax electronically without visiting tax offices.

Through the app, users can upload the required documents, after which the system will automatically calculate the tax due. They can then complete the payment electronically, obtain a tax clearance certificate, and track the status of their applications digitally.

The initiatives are part of the Authority’s broader digital transformation strategy to simplify tax procedures, enhance taxpayer services, and encourage voluntary compliance through faster, more accessible digital solutions.

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