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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)
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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.

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Business

EU to Vote on Trump Tariff Deal -- but Eyes Rest of World

The European Parliament will vote on whether to cut EU tariffs on some US imports. CHARLY TRIBALLEAU / AFP/File
The European Parliament will vote on whether to cut EU tariffs on some US imports. CHARLY TRIBALLEAU / AFP/File
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EU to Vote on Trump Tariff Deal -- but Eyes Rest of World

The European Parliament will vote on whether to cut EU tariffs on some US imports. CHARLY TRIBALLEAU / AFP/File
The European Parliament will vote on whether to cut EU tariffs on some US imports. CHARLY TRIBALLEAU / AFP/File

European Union lawmakers are on track to give a green light -- with conditions -- Thursday to the bloc's tariff deal with US President Donald Trump, which Europe hopes to salvage while also racing to diversify its trade ties around the globe.

Brussels and Washington clinched the deal last summer that had set tariffs at 15 percent for most EU goods.

But Trump's 2025 tariff blitz, including hefty levies on steel, aluminium and car parts, has jolted the 27-country bloc into cultivating trade ties around the world.

From deals signed with South America to Australia, the EU has its eyes on many prizes.

But that doesn't mean the EU intends to walk away from the 1.6 trillion euro ($1.9 trillion) relationship with its main trade partner, the United States, AFP reported.

The European Parliament is voting Thursday on whether to cut EU tariffs on some US imports -- as a first step towards implementing the 2025 deal -- but with additional safeguards.

The potential green light comes after months of delay as lawmakers resisted approving the accord due to transatlantic tensions over Greenland -- and then put it on hold again following the US Supreme Court's ruling striking down Trump's levies.

The ball started rolling again after the European Commission, in charge of EU trade policy, said it would stick to the pact despite the US ruling and called on lawmakers to do the same, having received reassurances from Washington.

Trump, however, retaliated after the ruling with a new tariff regime -- pushing EU lawmakers to tighten the existing agreement with numerous safeguards.

- Losing access to US energy? -

Lawmakers leading on trade have added several provisions: making an EU tariff reduction automatically lapse in March 2028, and tying tariff cuts on steel and aluminium goods to similar reductions by the US side.

Not all members of the parliament are convinced. French EU lawmakers from the centrist Renew group have said they will vote against the agreement.

"The only political value this agreement had to offer was stability and predictability, even if many say it's an unfair deal. If it no longer even provides predictability, there's no reason to support the deal, even if it has been improved," said MEP Pascal Canfin.

The United States has urged the bloc to implement the agreement.

Washington's ambassador to the EU Andrew Puzder told the Financial Times that if the bloc delayed further, it risked losing "favorable" access to US liquefied natural gas at a time when the Middle East war has led to surging energy costs.

Before the US tariff deal is implemented by the bloc, it still needs to be negotiated with EU member states -- although Brussels hopes talks will go quickly.

- 'Trump factor' -

It is the EU's vulnerability to the consequences of wars and other shocks that has pushed Commission chief Ursula von der Leyen to make diversifying trading partners a priority, to cut overdependence on the United States and China.

The frenzy began with a long-awaited accord signed with the South American Mercosur bloc in January. Weeks later, Brussels struck another pact with India and just this week clinched a stalled deal with Australia.

"The Trump factor sped up their conclusion, for us as well as for our partners," economist Andre Sapir said.

Spurred by Trump, Sapir said, the EU has been pushing to create the world's largest network of free trade areas -- a strategy with a "defensive dimension" allowing it to resist trade "coercion".

"This free trade network carries weight in our discussions with the two giants, the United States and China," he said.

"These agreements are part of our arsenal," Sapir, of the Bruegel think tank, added. "Our strategic weapons in the international order."

Business

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".

Business

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.