When World Bank president Ajay Banga signalled his willingness to drop the institution's ban on funding nuclear energy projects, it marked a moment when the institution aligned closer with President Donald Trump's administration, which is seeking to usher in a so-called nuclear renaissance in its quest to be the world's dominant player in artificial intelligence.
The World Bank has not supported nuclear energy since 1959 but the potential for a clean alternative to fossil fuels and the advancements promised by the advent of AI are leading to a resurgence in demand.
“Small nuclear reactors could be transformative,” Mr Banga said during a recent event hosted by the Economic Club of Washington. He hopes to introduce it to the board next year.
Mr Banga framed his reasoning behind the growing demand for electricity needed to lift developing areas out of poverty. “You're not going to do that by thinking like yesterday. You have to change that paradigm,” he said.
But that shift at the World Bank would ostensibly align it with Republicans in Congress who are pushing for a bill that would support financing nuclear energy through development banks. The bill, initially introduced in 2023 before being rekindled, would also advocate the establishment of a nuclear energy assistance trust fund.
Rachel Ziemba, founder of Ziemba Insights and senior adjunct fellow at the Centre for a New American Security, said the World Bank supportingnuclear energy could stave off some disappointment from the Trump administration over the funding of renewable projects.
“I'm sure that the World Bank's president is still coming from that point [of view],” she said.
This comes as the US renews its push to invest in nuclear energy. Energy Secretary Chris Wright has called it “the long-awaited American nuclear renaissance”.
Data centres housing AI projects require immense amounts of energy, explained Cullen Hendrix, a senior fellow at the non-partisan Peterson Institute for International Economics think tank in Washington.
According to a study by the Lawrence Berkeley National Laboratory in California last year, data centres will consume between 6.7 per cent to 12 per cent of US electricity by 2028, up from 4.4 per cent in 2023. Total electricity usage from these data centres will rise from 176 Terawatt-hours (TWh) in 2023 to between 325 and 580 TWh by 2028.
“To put that in perspective, 580 TWh is about as much energy as the entire country of Brazil, home to 210 million people, consumed in 2023,” Mr Hendrix told The National via email.
Former president Joe Biden's administration created plans in the his final months in office to at least triple US nuclear energy capacity by 2050. He also hailed bipartisan legislation passed last summer that the administration said would help secure a clean-energy future.
In the early months of his second term, Mr Trump has made a series of moves to step up America's AI dominance, including declaring a national energy emergency.
The White House served as the backdrop of an announced investment up to $500 billion from Oracle, OpenAI and SoftBank to develop AI infrastructure in the US and the electricity needed to develop it. UAE-based technology fund MGX joined the project as an initial equity financier.
Mr Trump has touted this project and other developments in AI infrastructure since before his inauguration. Several of those pledges have come from the UAE – itself an important player in advanced technology. The US and UAE also collaborate on peaceful nuclear co-operation through the "123 Agreement" signed in 2009.
“This is a key part of the story,” said Ms Ziemba.
The White House last week announced the UAE had committed to a 10-year, $1.4 trillion investment framework to step up the Emirates' existing investments in the US involving AI infrastructure, semiconductors, energy and manufacturing.
“Co-operating and investing in nuclear facilities is definitely something that the US and UAE will be talking about, along with their ongoing conversations about AI more generally,” Ms Ziemba said.
Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, called for more nuclear and other energy sources to meet rising electricity demand. The UAE sees the US as a major business partner in technology and energy.
Mr Al Jaber's remarks at an annual energy conference in Houston echoed Mr Wright's own speech at the same event, arguing the US must have access to reliable and affordable energy if the country is to win the AI race.
“It takes massive amounts of electricity to generate intelligence. The more energy invested, the more intelligence produced," Mr Wright said. "Since the demand for energy is unlimited, since the demand for intelligence is unlimited, so will be the demand for energy."
MATCH INFO
Tottenham Hotspur 1
Kane (50')
Newcastle United 0
Company Profile
Founders: Tamara Hachem and Yazid Erman
Based: Dubai
Launched: September 2019
Sector: health technology
Stage: seed
Investors: Oman Technology Fund, angel investor and grants from Sharjah's Sheraa and Ma'an Abu Dhabi
COMPANY%20PROFILE
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Arabian Gulf League fixtures:
Friday:
- Emirates v Hatta, 5.15pm
- Al Wahda v Al Dhafra, 5.25pm
- Al Ain v Shabab Al Ahli Dubai, 8.15pm
Saturday:
- Dibba v Ajman, 5.15pm
- Sharjah v Al Wasl, 5.20pm
- Al Jazira v Al Nasr, 8.15pm
KILLING OF QASSEM SULEIMANI
Specs
Price, base: Dhs850,000
Engine: 3.9-litre twin-turbo V8
Transmission: Seven-speed automatic
Power: 591bhp @ 7,500rpm
Torque: 760Nm @ 3,000rpm
Fuel economy, combined: 11.3L / 100km
HAJJAN
%3Cp%3EDirector%3A%20Abu%20Bakr%20Shawky%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cbr%3EStarring%3A%20Omar%20Alatawi%2C%20Tulin%20Essam%2C%20Ibrahim%20Al-Hasawi%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
SPECS%3A%20Polestar%203
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ELong-range%20dual%20motor%20with%20400V%20battery%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E360kW%20%2F%20483bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E840Nm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20automatic%3Cbr%3E%3Cstrong%3EMax%20touring%20range%3A%3C%2Fstrong%3E%20628km%3Cbr%3E%3Cstrong%3E0-100km%2Fh%3A%3C%2Fstrong%3E%204.7sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20210kph%20%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh360%2C000%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ESeptember%3Cbr%3E%3C%2Fp%3E%0A
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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FORSPOKEN
%3Cp%3EDeveloper%3A%20Luminous%20Productions%0D%3Cbr%3EPublisher%3A%20Square%20Enix%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%0D%3Cbr%3ERelease%20date%3A%20January%3C%2Fp%3E%0A
Company%20of%20Heroes%203
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Star%20Wars%20Jedi%3A%20Survivor
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Suicide%20Squad%3A%20Kill%20the%20Justice%20League
%3Cp%3EDeveloper%3A%20Rocksteady%20Studios%0D%3Cbr%3EPublisher%3A%20Warner%20Bros%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%2C%20XSX%0D%3Cbr%3ERelease%20date%3A%20May%3C%2Fp%3E%0A
Final%20Fantasy%20XVI
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Diablo%20IV
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Baldur's%20Gate%203
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The%20Legend%20of%20Zelda%3A%20Tears%20of%20The%20Kingdom
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Marvel's%20Spider-Man%202
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Assassin's%20Creed%20Mirage
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Starfield
%3Cp%3EDeveloper%3A%20Bethesda%20Game%20Studios%0D%3Cbr%3EPublisher%3A%20Bethesda%20Softworks%0D%3Cbr%3EConsole%3A%20PC%2C%20Xbox%0D%3Cbr%3ERelease%20date%3A%202023%3C%2Fp%3E%0A
Godzilla%20x%20Kong%3A%20The%20New%20Empire
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Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
The specs: 2018 Jeep Compass
Price, base: Dh100,000 (estimate)
Engine: 2.4L four-cylinder
Transmission: Nine-speed automatic
Power: 184bhp at 6,400rpm
Torque: 237Nm at 3,900rpm
Fuel economy, combined: 9.4L / 100km
Opening weekend Premier League fixtures
Weekend of August 10-13
Arsenal v Manchester City
Bournemouth v Cardiff City
Fulham v Crystal Palace
Huddersfield Town v Chelsea
Liverpool v West Ham United
Manchester United v Leicester City
Newcastle United v Tottenham Hotspur
Southampton v Burnley
Watford v Brighton & Hove Albion
Wolverhampton Wanderers v Everton
%3Cp%3EMATA%0D%3Cbr%3EArtist%3A%20M.I.A%0D%3Cbr%3ELabel%3A%20Island%0D%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
Teri%20Baaton%20Mein%20Aisa%20Uljha%20Jiya
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More on Quran memorisation:
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Company%20Profile
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If%20you%20go
%3Cp%3EThere%20are%20regular%20flights%20from%20Dubai%20to%20Kathmandu.%20Fares%20with%20Air%20Arabia%20and%20flydubai%20start%20at%20Dh1%2C265.%3Cbr%3EIn%20Kathmandu%2C%20rooms%20at%20the%20Oasis%20Kathmandu%20Hotel%20start%20at%20Dh195%20and%20Dh120%20at%20Hotel%20Ganesh%20Himal.%3Cbr%3EThird%20Rock%20Adventures%20offers%20professionally%20run%20group%20and%20individual%20treks%20and%20tours%20using%20highly%20experienced%20guides%20throughout%20Nepal%2C%20Bhutan%20and%20other%20parts%20of%20the%20Himalayas.%3C%2Fp%3E%0A
