Saudi Energy Minister: Kingdom Forging Ahead Fully with its Nuclear Program 

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz speaks at the 69th session of the International Atomic Energy Agency (IAEA) General Conference in Vienna on Monday. (SPA)
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz speaks at the 69th session of the International Atomic Energy Agency (IAEA) General Conference in Vienna on Monday. (SPA)
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Saudi Energy Minister: Kingdom Forging Ahead Fully with its Nuclear Program 

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz speaks at the 69th session of the International Atomic Energy Agency (IAEA) General Conference in Vienna on Monday. (SPA)
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz speaks at the 69th session of the International Atomic Energy Agency (IAEA) General Conference in Vienna on Monday. (SPA)

Saudi Minister of Energy, Chairman of the Board of King Abdullah City for Atomic and Renewable Energy, and Chairman of the Nuclear and Radiological Regulatory Commission Prince Abdulaziz bin Salman bin Abdulaziz said on Monday the Kingdom was forging ahead in developing its nuclear program.

Speaking at the 69th session of the International Atomic Energy Agency (IAEA) General Conference in Vienna, he stressed: “Given the importance of nuclear energy in socioeconomic development, the Kingdom has moved towards utilizing nuclear energy for peaceful purposes.”

“The Kingdom, in cooperation with the IAEA, is continuing to implement its national nuclear energy project in all its components, including the construction of the first nuclear power plant in Saudi Arabia, to achieve multiple objectives: contributing to the diversification of the national energy mix, enhancing the security of supply chains, and advancing sustainable development,” he went on to say.

These efforts are being pursued in line with the Kingdom’s national requirements and within the framework of international obligations, he added.

The Kingdom is committed to ensuring its national program promotes knowledge and technology transfer and supports the development of national human and technical capabilities in line with international best practices, said Prince Abdulaziz.

The minister further noted that Saudi Arabia has completed the essential administrative preparations to rescind the Small Quantities Protocol in cooperation with the IAEA and has fully implemented the Comprehensive Safeguards Agreement, as of early 2025.

Moreover, he said the Kingdom underlines the importance of strengthening nuclear and radiological emergency preparedness and response capabilities at the national and international levels.

International cooperation and knowledge-sharing boost the effectiveness of the nuclear and radiological emergency response systems to ensure people’s safety and environmental protection, he remarked.

The minister praised the IAEA’s efforts, under the leadership of Director General Rafael Grossi, to advance initiatives that support member states in building national systems, developing human capabilities in nuclear technology, and bolstering oversight of nuclear and radiological practices.

The conference underscores the agency’s key role in advancing international cooperation to harness atomic energy for peace and sustainable development, he noted.

Looking ahead, Prince Abdulaziz announced that the Kingdom will host the International Conference on Nuclear and Radiological Emergencies in Riyadh from December 1 to 4. The event will be organized by the IAEA.

Reaffirming Saudi Arabia’s investment in human capital, Prince Abdulaziz stressed that investing in national talent is key to maximizing the benefits of peaceful nuclear applications.

He underlined the Kingdom’s cooperation with the IAEA in supporting programs that develop and equip young professionals in the nuclear field to support national goals and achieve sustainable development.

The minister also highlighted Saudi Arabia’s support for the IAEA’s efforts to encourage member states to join multilateral nuclear safety agreements, noting that the Kingdom recently hosted a regional workshop in Riyadh to promote the Joint Convention on spent fuel and radioactive waste management in collaboration with the IAEA.

Prince Abdulaziz reiterated the Kingdom’s determination to deepen cooperation with the IAEA and advance the peaceful use of atomic energy in support of national development goals and in line with international obligations.



China Shipping Giant Cosco Resumes Bookings to Some Gulf Countries

A cargo ship operated by Cosco Shipping is docked at the foreign trade container terminal of Qingdao Port, operated by Shandong Port Group, in China's eastern Shandong province on March 25, 2026. (Photo by CN-STR / AFP)
A cargo ship operated by Cosco Shipping is docked at the foreign trade container terminal of Qingdao Port, operated by Shandong Port Group, in China's eastern Shandong province on March 25, 2026. (Photo by CN-STR / AFP)
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China Shipping Giant Cosco Resumes Bookings to Some Gulf Countries

A cargo ship operated by Cosco Shipping is docked at the foreign trade container terminal of Qingdao Port, operated by Shandong Port Group, in China's eastern Shandong province on March 25, 2026. (Photo by CN-STR / AFP)
A cargo ship operated by Cosco Shipping is docked at the foreign trade container terminal of Qingdao Port, operated by Shandong Port Group, in China's eastern Shandong province on March 25, 2026. (Photo by CN-STR / AFP)

Chinese shipping giant Cosco said on Wednesday that it was resuming new bookings for container shipments to some Gulf countries, after a three-week suspension in response to the Middle East war.

The state-owned, Shanghai-based firm was among several major shipping groups to pause operations in the Strait of Hormuz, a key waterway through which one-fifth of the world's oil and gas passes normally.

Tehran has said several times it was not targeting friendly nations, but transits through the Strait had nevertheless largely ground to a halt.

Iran said in a statement circulated by the International Maritime Organization on Tuesday that "non-hostile vessels" would be granted safe passage through the waterway.

Cosco "resumed new bookings for general cargo containers for shipments" from the "Far East" to the UAE, Saudi Arabia, Bahrain, Qatar, Kuwait, and Iraq "with immediate effect", according to a company statement.

It did not mention shipments travelling in the opposite direction, from the Gulf.

"New booking arrangements and the actual carriage are subject to change due to the volatile situation in the Middle East region," it added.

Cosco, which operates one of the world's largest oil tanker fleets, announced on March 4 that it would suspend new bookings for services for routes through the Strait of Hormuz owing to the "escalating conflicts in the Middle East region and resultant restrictions on maritime traffic".


Qatar Emir Makes Minor Changes to QIA Board

People visit a mall in Doha on March 23, 2026. (Photo by AFP)
People visit a mall in Doha on March 23, 2026. (Photo by AFP)
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Qatar Emir Makes Minor Changes to QIA Board

People visit a mall in Doha on March 23, 2026. (Photo by AFP)
People visit a mall in Doha on March 23, 2026. (Photo by AFP)

Qatar's Emir Sheikh Tamim bin Hamad Al Thani issued a decree on Wednesday ⁠making minor changes to ⁠the board of the ⁠Qatar Investment Authority, while keeping Sheikh Bandar bin Mohammed bin Saud Al Thani as chairman and Sheikh ⁠Mohammed ⁠bin Hamad bin Khalifa Al Thani as deputy chairman.

The decision stipulated that QIA’s Board of Directors would be restructured as follows: Sheikh Bandar bin Mohammed bin Saud Al Thani as Chairman, Sheikh Mohammed bin Hamad bin Khalifa Al Thani as Deputy Chairman, Ali bin Ahmed Al Kuwari as a member, Saad bin Sherida Al Kaabi as a member, Sheikh Faisal bin Thani bin Faisal Al-Thani as a member, Nasser bin Ghanim Al Khelaifi as a member, and Hassan bin Abdullah Al Thawadi as a member.

The decision is effective starting from its date of issue and is to be published in the official gazette.


Oil Falls More Than 5% and World Shares Gain Over Possible de-escalation of Iran War

A man fills his car with petrol at the petrol station in Port Dickson, Negri Sembilan, Malaysia, 25 March 2026. EPA/FAZRY ISMAIL
A man fills his car with petrol at the petrol station in Port Dickson, Negri Sembilan, Malaysia, 25 March 2026. EPA/FAZRY ISMAIL
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Oil Falls More Than 5% and World Shares Gain Over Possible de-escalation of Iran War

A man fills his car with petrol at the petrol station in Port Dickson, Negri Sembilan, Malaysia, 25 March 2026. EPA/FAZRY ISMAIL
A man fills his car with petrol at the petrol station in Port Dickson, Negri Sembilan, Malaysia, 25 March 2026. EPA/FAZRY ISMAIL

Oil prices fell more than 5% and world shares gained on Wednesday over the possibility of a de-escalation of the Iran war and negotiations between the United States and Iran. US futures were up 0.9%.

In early European trading, Britain's FTSE 100 rose 1% to 10,072.60. France's CAC 40 was up 1.4% to 7,855.31, while Germany's DAX was 1.6% higher at 22,989.80.

Tokyo’s Nikkei 225 was up 2.9% to 53,749.62. South Korea’s Kospi gained 1.6% to 5,642.21.

Hong Kong’s Hang Seng rose 1.1% to 25,335.95, while the Shanghai Composite index was 1.3% higher at 3,931.84. Labubu doll maker Pop Mart's Hong Kong-listed shares fell 22.5%, after it announced annual revenue for last year that was largely in line with analysts’ estimates.

Australia’s S&P/ASX 200 climbed 1.9%. Taiwan’s Taiex was up 2.5%.

US President Donald Trump's claims of progress being made from talks with Iran this week and his postponement on Monday of a deadline to “obliterate” Iran’s power plants over the reopening of the Strait of Hormuz have also fueled optimism that an end to the Iran war could come soon.

Trump's administration has offered a 15-point ceasefire plan to Iran, but an Iranian military spokesperson mocked the US’ attempt at a ceasefire deal Wednesday.

With the Strait of Hormuz being a key waterway for crude oil and liquefied natural gas transport, oil and gas prices have spiked and fluctuated in recent days.

Oil prices fell again on growing hopes for a de-escalation. Brent crude, the international standard, fell 5.2% to $94.97 per barrel. It was around $104 on Tuesday.

Benchmark US crude was down 5.3% early Wednesday to $87.44 a barrel.

While Iran has denied negotiations were taking place, and attacks in the Middle East continued, Pakistan has offered to host talks between Washington and Tehran. And as Trump raised optimism of a de-escalation of the war, at least 1,000 more American troops from the 82nd Airborne Division are said to be deployed to the Middle East in the coming days.

On Tuesday, US stocks closed lower. The S&P 500 lost 0.4% to 6,556.37. The Dow Jones Industrial Average edged down 0.2% to 46,124.06, while the Nasdaq composite was 0.8% lower to 21,761.89.

Shares of Estee Lauder sank more than 9%, following confirmation that the US-listed company is in merger talks with Spanish beauty and perfume group Puig.

In other dealings early Wednesday, gold prices resumed its rise after falling earlier. It dropped in part because of rising US Treasury yields over dimming expectations of a Federal Reserve rate cut after the spike in oil prices threatened to fuel global inflation.

The price of gold was up 3.6% early Wednesday to $4,561.90 per ounce. It was above $5,000 earlier this month.

The US dollar was at 158.84 Japanese yen, up from 158.69. The euro was trading at 1.1602, down from $1.1608.