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Economy and Policy

Economy and Policy latest

AI Data Center
June 29th, 2026 - 06:34 GMT
P. Choiaqo

P. Choiaqo

South Korea to invest $650 billion into AI data centers by 2035

ALBAWABA - While some are wary of a possible AI bubble, others investing heavily into it - foreseeing returns on investments in 10-15 years, one such country is South Korea. South Korea cementing its already renowned status of a tech and innovation hub and powerhouse has decided to invest nearly a quadrillion won ($650 million) in AI data centers over the next nine years. "By 2035, we will build additional ...
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Bitcoin was trading at $6,640.4. (Shutterstock)
July 10th, 2018 - 08:31 GMT

Bitcoin Slips Again; Was China’s Crypto Ban the Right Move?

French Minister of the Armed Forces Florence Barley (L) and Saudi Crown Prince Mohammad bin Salman. (AN)
July 9th, 2018 - 10:25 GMT

New Military Agreement Between Saudi Arabia and France

Panelists discuss issues facing scale-up small-and medium-enterprises in the Middle East and North Africa during a meeting organised by Endeavor Jordan and Strategy & Middle East in Amman, on Sunday. (Jordan Times)
July 9th, 2018 - 09:20 GMT

What's Hindering the Growth of SMEs in Jordan?

Any annoyance complaints from the public against a real estate firm or a real estate broker, will be dealt with firmly and they will be fined up to Dh50,000. (Shutterstock)
July 9th, 2018 - 09:12 GMT

Real Estate Agents to Pay Dh50,000 Fine Over Telesales in UAE

Need to look for alternative ways in order to avoid dangerous consequences: experts. (Shutterstock)
July 9th, 2018 - 08:53 GMT

Kuwait to Suffer the Most If Iran Closes Strait of Hormuz

Sisi is trying to raise his political stock by announcing a  vast number of extraordinary, and just as unrealisable, mega-projects. (AFP)
July 8th, 2018 - 11:29 GMT

Sisi and the Mega Projects: Are They Enough to Raise Egypt's Economy?

Amending the Income Tax Law comes with one question for all: ‘does the tax law serve national growth and social justice?' (Shutterstock)
July 8th, 2018 - 11:21 GMT

Discussions in Jordan to Amend Income Tax Law


Tunisia’s inflation has been on the rise reaching the peak since 1990 which saw the central bank raising key interest rates last month by 100 basis points to 6.75 per cent. (Shutterstock)
July 8th, 2018 - 10:08 GMT

Tunisia Receives $250 Million From IMF

Oman’s diversification efforts and the planned completion of major infrastructure projects are indicators to a positive outlook. (Shutterstock)
July 8th, 2018 - 08:55 GMT

IMF: Non-Oil Economic Growth to Increase by Four per Cent in Oman

“The plan outlaid an aspirational target of OMR700 million for the value of GOEs transferred to private sector owners between 2017 and 2021." - ISFU annual report (Shutterstock)
July 8th, 2018 - 08:47 GMT

Privatization in Oman to Raise OMR700 Million by 2021

The value of imports reached Dh22.1 billion, while exports and re-exports amounted to Dh4.47 billion and Dh886 million respectively. (Dubai Media Office)
July 8th, 2018 - 08:35 GMT

Dubai Non-Oil Trade With South Korea Reaches More Than $7 Billion

Banks are not funding because they are a risky investment and there is a need to have a separate venture capital or guarantee scheme for them. (Shutterstock)
July 8th, 2018 - 08:21 GMT

Default Rate Declined Remarkably Among UAE SMEs

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