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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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OPEC is about to hold what’s likely to be its most difficult meeting in years. (Shutterstock)
June 19th, 2018 - 07:14 GMT

Saudi Oil Chief Faces Toughest OPEC Test After Reviving Market

They will also be exempted from fines. (Shutterstock)
June 19th, 2018 - 07:04 GMT

One-Year UAE Residency Visa for People in War, Disaster Zones

His Excellency Khalid Ali Al Bustani, Director General of the FTA
June 19th, 2018 - 05:11 GMT

Federal Tax Authority Receives Businesses’ VAT Returns for Tax Periods Ending May

Director of Dubai Customs Ahmed Mahboob Musabih welcomed the Chinese delegates who came from Yiwu City in Zhejiang Province.
June 18th, 2018 - 10:53 GMT

Dubai Customs Showcases Its Experience to Chinese Delegates


Cryptocurrencies are too unstable to ever serve as bona fide mediums of exchange in the global economy. (Shutterstock)
June 18th, 2018 - 09:46 GMT

Bitcoin Could Break the Internet, Central Bank Overseer Says

Individuals who have purchased a property for a minimum value of Dh1 million are entitled to apply for residence visa in the UAE. (Pixabay)
June 18th, 2018 - 08:05 GMT

UAE Residents Can Get Visa Against Property They Own

FTA Director General His Excellency Khalid Ali Al Bustani
June 18th, 2018 - 07:58 GMT

Federal Tax Authority: Website Now Allows Taxable Persons to Connect Directly With Accredited Tax Agents

The UAE will deposit $1 billion in Ethiopia’s central bank to ease a severe foreign currency shortage, government spokesman Ahmed Shide told Reuters at a palace in Addis Ababa after Abiy met with Abu Dhabi’s crown prince, Sheikh Mohamed Bin Zayed. (Shutterstock)
June 18th, 2018 - 07:46 GMT

UAE to Give Ethiopia $3 Billion in Aid and Investments

Current bank guarantees worth Dh14 billion will be released back into the local economy. (Shutterstock)
June 18th, 2018 - 07:24 GMT

Reforms Will Ease Cost of Doing Business in UAE

Saudi Arabia has paid $4.2 billion to its citizens as part of the government’s Citizen Account Programme to support nationals against rising prices and newly-imposed taxes. (Shutterstock)
June 17th, 2018 - 09:28 GMT

Saudi Arabia to Aid Unemployed Citizens With a $4.2 Billion Free Pass

Local sectors needs to contend with changes in consumer behaviour, especially in e-commerce. (Shutterstock)
June 17th, 2018 - 09:22 GMT

How UAE's Insurance Industry Is Changing

The price hike is expected to add more pressure on Egyptian consumers. (AFP)
June 17th, 2018 - 09:08 GMT

Egypt Raises Petrol Prices by up to 50 Percent

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