The Saudi Minister of Energy and Minister of Industry and Mineral Resources, Prince Abdulaziz bin Salman, confirmed that the Saudi nuclear program is peaceful and based on transparency and international cooperation, stressing that the Kingdom is continuing to introduce nuclear energy into its national mix, in parallel with exploring uranium resources and maximizing the economic value of its mineral wealth.
He explained during the 70th session of the General Conference of the International Atomic Energy Agency in Vienna that uranium exploration is taking place through three paths, which include extracting it from phosphate fertilizer production operations, exploring its resources in Jabal Sayid, and surveying traditional resources. He revealed that studies in the Jabal Sayid project showed estimated resources of about 110 million tons of ore, containing high concentrations of rare earth metals, accompanied by promising concentrations of uranium.
For his part, the Director-General of the International Atomic Energy Agency, Rafael Mariano Grossi, said after his meeting with the Minister of Energy, that Saudi Arabia is moving forward with its program and its research reactor, stressing that the agency is “ready to support Saudi Arabia in every step.”
The Deputy Director-General of UNESCO, Asia Regenier, said that the world is witnessing increasing warnings about the possibility of losing control over the development of artificial intelligence, in light of the accelerating pace of technology development and increasing concerns about oversight and accountability, with the holding of the Fourth UNESCO Global Forum for the Ethics of Artificial Intelligence in Riyadh from September 14 to 17.
Regenier added, during a press conference on the sidelines of the forum on Monday, that the discussions witnessed by the event focused on the warnings associated with the rapid development of artificial intelligence, in addition to the great opportunities provided by the technology.
She continued: “Two months ago, the United Nations Independent International Scientific Group on Artificial Intelligence issued a similar warning and said that artificial intelligence is changing our economies, institutions, and daily lives at an unprecedented speed, but its benefits are still concentrated in a limited number of countries and companies.”
The Deputy Director-General indicated that representatives of major companies in the field of artificial intelligence issued similar warnings last week, saying that the pace of development has become too high, with a lack of oversight and accountability.
She stressed that the challenge is to achieve a balance between taking advantage of the opportunities provided by artificial intelligence and dealing seriously with its risks, saying: “How can we not disrupt opportunities and be useful to people and humanity due to fear of risks, and at the same time take these risks seriously?” “This is a difficult balance.”
Regenier stressed the need for humans to remain in control of artificial intelligence technologies, to know who is responsible and accountable, and to involve everyone in decisions related to these technologies.
The Deputy Director-General continued: “Humans must remain in control, and we must know who is in charge, who is accountable, and how we can involve everyone in vital decisions related to this powerful technology, so that it benefits everyone.”
She explained that UNESCO adopted its recommendation on the ethics of artificial intelligence in 2021 with the approval of the 193 member states, with the aim of helping countries deal with issues related to this technology, noting that the current forum represents the fourth edition of the meetings dedicated to discussing these files.
Regenier pointed out that 78 countries around the world have completed or are currently working on applying the UNESCO methodology to assess readiness for artificial intelligence, which aims to study each country’s needs, context and goals, and determine the appropriate regulatory procedures and policies for them.
She believes that countries differ in their response to artificial intelligence according to levels of development and economic and social conditions, explaining that the needs of a rich and developed country differ from the needs of a country facing conflicts, hunger, or illiteracy.
The Deputy Director-General stressed the importance of international cooperation in this field, noting the need for countries to exchange their experiences and work together to ensure that artificial intelligence is benefited from in an ethical and comprehensive manner.
She added that policies related to artificial intelligence must be comprehensive and take into account the needs of men, women and children, and examine how to use technology ethically in several areas, including medical treatment, planning and education.
The Secretary-General of the Gulf Cooperation Council, Jassim Mohammed Al-Budaiwi, confirmed on Monday that the banking sector in the GCC countries has maintained its strength and stability despite the current circumstances, supported by advanced supervisory and regulatory frameworks, and good levels of liquidity and capital adequacy.
Al-Budaiwi explained during the 87th meeting of the Central Bank Governors Committee of the Gulf Cooperation Council countries in the Bahraini capital, Manama, that these capabilities strengthened the banking system’s ability to keep pace with all economic changes on the one hand, and to continue its role in supporting economic activity and financing development in the GCC countries on the other hand.
He pointed to a number of indicators that reflect the strength of the banking sector and monetary stability in the GCC countries, including an increase in total deposits with commercial banks operating in the Gulf Cooperation Council at the end of last June by 6 percent, compared to their size at the end of 2025, to reach about 2.45 trillion dollars.
Al-Budaiwi stated that the total assets of commercial banks operating in the Gulf Cooperation Council amounted to more than $4 trillion at the end of last June, an increase of 3.9 percent, compared to the end of last year, while the volume of net foreign assets of Gulf central banks in the same period amounted to about $829 billion, covering 11 months of Gulf Cooperation Council imports.
He noted that the GCC countries maintained stable inflation levels despite the current economic challenges. The Gulf inflation rate reached about 2.1 percent last May, which is lower than the averages of the major economic blocs, highlighting in this context that these indicators confirm the strength of the economies of the GCC countries and the success of the Gulf economic integration process, which enhances their competitive position at the regional and international levels.
The Secretary-General of the Gulf Cooperation Council pointed out that the global economic arena is witnessing rapid transformations, in light of successive geopolitical and economic developments, and the accompanying fluctuations in the markets and challenges in the movement of trade, investment and supply chains.
Al-Budaiwi said: “Given the close connection between the economies of the GCC countries and the global economy, these variables impose the importance of continuing to enhance readiness and the ability to deal with various challenges, in a way that maintains economic, financial and monetary stability.”
