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Saudi Human Resources and Social Development Vice Minister, International Labor Organization (ILO) Director-General Gilbert F. Houngbo Open Second-Day of the Inaugural Global Labor Market Conference

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  • GLMC Platform Launches ‘Rayan,’ first ever AI tool designed to answer queries on labor markets
  • National Private Sector Training Program Pledge, ‘Waad,’ already 50% Toward its Target
  • ILO Director-General Implores Global Community to Support, Create Employment Opportunity for Youth.

RIYADH, Saudi Arabia, Dec. 14, 2023 /PRNewswire/ — H.E. Dr. Abdullah Nasser Abuthnain, Vice Minister of the Saudi Ministry of Human Resources and Social Development welcomed over 6,000 guests and 150 participants back to second day of the inaugural Global Labor Market Conference (GLMC).

After welcoming guests and highlighting the previous day’s successes, H.E. Vice Minster Abuthnain discussed the Kingdom’s focus on two critical areas: skills development and new forms of work.

The Kingdom has prioritized skill development to support economic diversification toward a more productive and knowledge-based economy,” said the Vice Minister. He pointed to Saudi Vision 2030 programs such as the Human Capability and Development Program, and the Labor Market Strategy, which have been established to drive skill development and address skill mismatches.

H.E. Vice Minister Abuthnain continued “We in the ministry have adopted a demand driven approach to skill development by forming partnerships with private sector and other stakeholders.” Successes he highlighted include the establishment of 12 sectoral councils with over 150 participating members and the creation of an overarching skill framework that has resulted in a complete standard definition for 300 occupations covering 2,000 skills.

H.E. the Vice Minister also highlighted the success of the National Private Sector Training Pledge Program, ‘Waad’ under which the private sector has committed to training 150,000 individuals by 2025, a target already 50% achieved. 

The morning also featured a keynote address from International Labor Organization (ILO) Director-General Gilbert F. Houngbo. Speaking specifically to the path forward for young people in labor markets, Director-General Houngbo set the tone, saying “we all must double down on our effort to ensure that our next generation can flourish as productive members of society.” The Director-General framed the potential for youth cohorts, calling them “not mere beneficiaries, they are key stakeholders and the architects of the future labor market.” He went on to say of youth “They represent the driving force for change and innovation particularly as the world stands on the brink of unprecedented challenges exacerbated by climate change, rapid technology advancement, shifting demographics, and geopolitical tensions.

Director-General Houngbo emphasized the stakes for young people, sharing a number of datapoints: the global youth unemployment rate exceeds 3 times that of adults; more than 3 out of 4 young people are informally employed, 1 in 3 youth are working, yet still living in poverty. Imploring the audience, Director-General Houngbo declared “This cannot be the statistical reality of the future.”

Among possible solutions, Director-General Houngbo called for investments in internet infrastructure, policies to encourage inclusivity, a focus on digital literacy, and the potential of the green and blue economies, which by 2030 could create up to 8.4 million new jobs for young people.

Director-General Houngbo concluded with a message addressed directly to youth, calling on young people to “take the lead, to actively participate in your communities and make your voices heard in public fora, and on the issues that you care about, and the changes you want to see, the future we know belongs to you.”

In addition to speakers, GLMC Day 2 witnessed the unveiling of ‘Rayan,’ the first ever AI tool specifically concerning global labor markets. Trained on trillions of datapoints within billions of parameters, ‘Rayan’ is capable of providing up-to-date information and responses on all queries related to global labor markets. Introducing the tool, GLMC CEO Ohoud Al-Shamikh, demonstrated Rayan’s capability, asking “Tell me Rayan, with declining populations across the globe how can AI be used in the labor market to help adapt to these new realities?

The morning’s activities followed the opening day of the inaugural global labor market conference and continued its program of over 40 unique keynote addresses, informational panels sessions, fireside chats, and auxiliary events all aimed at addressing current challenges, future uncertainties, and opportunities for global labor markets.

Day 2 features an equally impressive line-up of speakers and participants, including Saudi officials such as H.E. Dr. Hala bint Mazyad Al-Tuwaijiri, President of the Saudi Human Rights Commission, H.E. Dr. Abdullah bin Sharaf Al-Ghamdi, President of the Saudi Data and Artificial Intelligence Authority, and Takamol Holdings CEO Dr. Ahmad Al-Yamani.

For more on the global labor market conference and to utilize Rayan visit www.globallabormarketconference.com

About the Global Labor Market Conference

The Global Labor Market Conference is a platform that aims to convene experts, specialists, and representatives of labor market stakeholders to engage in discussions about current and future international market challenges and propose innovative solutions to address them. Launched in Riyadh by the Ministry of Human Resources and Social Development of the Kingdom of Saudi Arabia, this annual conference seeks to establish a forum for the exchange of ideas, collaboration, and as a driving force for positive changes in labor practices on a global scale.

The event will gather Excellencies, the Ministers of Labor from G20 countries, leaders of pertinent international organizations, high-ranking officials, and figures from government and private sectors worldwide. It will also draw participation from major investors in both local and international private sectors. The conference’s primary focus will be on policies and best practices related to labor markets, while emphasizing the pivotal roles of employers and governments in shaping a harmonious and inclusive labor market.

In addition to the core conference program, which will delve into topics concerning the future of labor markets, the ongoing transformations in the world of work, and the influence of globalization, several ancillary activities will take place. These will include specialized workshops, diverse events, the signing of numerous memorandums of understanding and agreements, and the recognition of distinguished institutions and organizations within the labor market through the “Labor Award.”

 

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Global Labor Market Conference (PRNewsfoto/Ministry of Human Resources and Social Development - Kingdom of Saudi Arabia)

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Sinotruk leaping forward to become world-class technology enterprise

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JINAN, China, March 2, 2024 /PRNewswire/ — On March 2, SinoTruk’s Science and Technology Innovation Award Annual Conference 2024 was grandly held, to recognize and rewarding major scientific and technological achievements and outstanding innovative talents since 2022, planning and deploying scientific and technological innovation work ahead. Tan Xuguang, Chairman and General Manager of Shandong Heavy Industry Group, Chairman of China National Heavy Duty Truck Group, attended the conference and delivered a report on scientific and technological innovative work – “Steadily stride forward, embracing change in science and technology”.

 

Over the past five years, Sinotruk has invested nearly RMB 15 billion in R&D, which is the sum of the previous 15 years. It has benchmarked against world-class standards and gradually established a full-process independent research and development system. Sinotruk technological strength has reached the forefront of the national industry. Sinotruk has reshaped the “Yellow River” heavy-duty trucks standard with technology, ranking first in China, and its high-tech indicators are leading the industry. The market share of heavy-duty trucks has increased from 16.5% in 2018 to 26% in 2023, ranking first in China for two consecutive years. In 2023, the export volume exceeded 130,000 vehicles for the very first time, a 2.6-fold increase compared to 5 years ago, making it the largest single-brand global export volume in the world.

Tan Xuguang called on all engineers to keep in mind their mission, be down-to-earth, persistent in innovation, and make long-term achievements through dedicated ten years of hard work. Learn from the global cooperation, grow and become talents through project training, and achieve through continuous value creation. Achieve your meaning in life, strive with vitality and passion while you are young. Let’s set off again for a better future for the century heavy truck industry and the world’s best heavy truck industry!

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Cision View original content:https://www.prnewswire.co.uk/news-releases/sinotruk-leaping-forward-to-become-world-class-technology-enterprise-302077767.html

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Flash News: OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

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SINGAPORE, March 2, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, has issued updates for March 2, 2024.

OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

OKX today announced the launch of its ‘Babylon Pioneer Pass Event,’ giving users who access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC) the opportunity to claim Babylon’s Bitcoin Pioneer Pass NFT. To qualify for a spot, users must access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC).

The event kicks off on February 28 and continues until March 6. Following the event, starting from March 7, participants who have been whitelisted will have the ability to mint their Bitcoin Pioneer Pass NFT using the OKX Wallet and their whitelisted address.

The process of participating in this event is straightforward and involves the following steps:

  1. Firstly, users will need to prepare by setting up their OKX and Keplr Wallets. These wallets will be crucial for interacting with the Babylon Testnet and the subsequent claiming of sBTC and BBN.
  2. Following the wallet setup, users can then claim the sBTC and BBN on Babylon’s Official Discord. These tokens will be needed for staking in the Babylon Testnet.
  3. Finally, users will need to access Babylon’s official website, where users can actively engage, stake their tokens and claim their whitelist spots.

Participation in the event offers a multitude of benefits. Users can engage actively with the Babylon Testnet, which in turn enhances their understanding of the Babylon protocol and its functionalities. Furthermore, participants contribute to the development and evolution of the Babylon protocol by being active users.

The ‘Babylon Pioneer Pass Event‘ is a result of OKX’s partnership with Babylon, a trustless Bitcoin staking protocol. The Bitcoin Pioneer Pass, Babylon’s first commemorative Non-Fungible Token (NFT), is a highlight of this event, representing a significant milestone for both OKX and Babylon.

For more information, please visit the OKX Support Center.

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
  • DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
  • NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
  • Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.

OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.

To learn more about OKX, download our app or visit: okx.com

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UnionPay International and The Tourism Organisation of Serbia Sign MOU to Enhance Tourist Payments and Promote Serbia as a Premier Destination

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BELGRADE, Serbia, March 1, 2024 /PRNewswire/ — UnionPay International, the leading global card scheme, has entering into a Memorandum of Understanding (MOU) with The Tourism Organisation of Serbia (TOS). This strategic partnership aims to enhancing the payment experience for tourists and to further facilitate tourism growth in Serbia.

The MOU signing ceremony took place at Belgrade on 27th February 2024, marking the beginning of a collaborative effort between UnionPay International and TOS. The agreement outlines various areas of cooperation:

Jointly promoting Serbia as Travel Destination: Through optimised marketing resources, both parties aim to promote Serbia as tourist destination among UnionPay cardholders, with its rich cultural heritage and unique experiences, provide comprehensive tourism information and payment guides for the tourists visiting Serbia. UnionPay International aims to provide more diversified and convenient payment choices, and ensuring seamless payment experiences for travellers visiting the country.

Privileges and Benefits: The partnership will explore opportunities for preferential activities that bring additional benefits to UnionPay cardholders visiting Serbia. This approach aims to boost the attractiveness of the local tourism market and create a win-win situation for both parties.

Ms Bomee Sheng, Product Director of UnionPay International, expressed her enthusiasm about the collaboration, stating, “We are delighted to partner with The Tourism Organisation of Serbia to promote tourism and facilitate payment experiences in Serbia. Through this partnership, we aim to provide UnionPay cardholders with enhanced convenience and benefits, ultimately contributing to the growth of Serbia’s tourism industry.”

Ms Marija Labović, CEO of National Tourism Organisation of Serbia, commented, “This partnership with UnionPay International comes at an important time as we strive to become the most popular all year destination in the region.” She outlines Belgrade’s popularity and the diversity of attractions from city breaks to natural retreats and she is looking forward to the Expo 2027 in the capital, “By leveraging UnionPay’s global network and advanced payment solutions, we are confident that we can attract more visitors to Serbia and provide them with memorable experiences.”

In recent years, Serbia has emerged as one of the most attractive destinations for Chinese visitors. It is hailed as the “heart of the Balkans” and offers a unique blend of captivating landscapes and rich cultural heritage. Its visa-free entry policy, coupled with the exceptional acceptance coverage of UnionPay cards, has played a significant role in attracting Chinese tourists. With over 90% of local merchants and ATMs supporting UnionPay payments and withdrawals, travellers can enjoy seamless payment experiences across various sectors, including retail, dining, hotels, gas stations, toll stations, and tourist attractions.

About The Tourism Organisation of Serbia (TOS)

The Tourism Organisation of Serbia (TOS) was formed under the Law on Tourism of 1994 as the institution in charge of promoting Serbian tourism in domestic and foreign markets, as well as performing other duties relevant for the development of communication and advertising activities in Serbian tourism. The activities of TOS are focused on positioning Serbia’s tourism products in domestic and foreign markets and exploring Serbia’s comparative advantages in terms of tourism, including its geostrategic position and its historical, cultural and natural identity.

About UnionPay International

UnionPay International focuses on the international business of UnionPay, a global payment network that serves the world’s largest cardholder base. Collaborating with over 2,600 partners globally, UnionPay acceptance now reached to 183 countries and regions. Outside the Chinese Mainland, UnionPay is accepted at nearly 67 million merchants and 1.7 million ATMs.

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