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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 $7,711.2 by 1:10AM ET (05:10GMT) on the Bitfinex exchange, up 1.4% over the previous 24 hours. (Shutterstock)
June 7th, 2018 - 09:03 GMT

Bitcoin Prices Rise; Fidelity Hiring For Crypto Projects

It includes freezing private school fees, and reducing and cancelling certain government fees. (KhT)
June 7th, 2018 - 08:51 GMT

Dubai Economic Stimulus Gains Momentum

Oman's government is planning to permit the recruitment of non-Omani workers under temporary employment licenses in specific specialised jobs for a set period of time. (Shutterstock)
June 7th, 2018 - 08:38 GMT

Oman Working on New Temporary Work Permits for Expats

The first meeting of the Saudi-Emirati Coordination Council in Jeddah. (SPA)
June 7th, 2018 - 07:32 GMT

Saudi Arabia, UAE Boost Cooperation as Multiple Joint Projects Announced

Abu Dhabi’s stimulus plan follows the announcement last month of a package of measures by Dubai’s ruler and the prime minister of the United Arab Emirates, Sheikh Mohammed Bin Rashid. (File Photo)
June 6th, 2018 - 11:24 GMT

Abu Dhabi Announces Three-Year Dh50 Billion Stimulus Programme

Target growth stands at 5.8% of the GDP. (Shutterstock)
June 6th, 2018 - 09:50 GMT

10 Things You Need to Know About Egypt's New Budget

Protesters gather near the Fourth Circle in Amman calling for withdrawal of new income tax draft law from the Parliament on Tuesday. (Jordan Times)
June 6th, 2018 - 07:23 GMT

Professional Associations in Amman to Go Ahead With Strike Today

Over 3,300 Iftar meals are being distributed every day, a total of over 100,000 meals during Ramadan to DP World.
June 5th, 2018 - 10:44 GMT

DP World, UAE Region Marks Year of Zayed With Ramadan Community Initiatives

Dr. Raed Kombargi, partner with Strategy& Middle East
June 5th, 2018 - 10:34 GMT

GCC Must Make the Right Decisions to Harness the Potential of Renewable Energy

The survey, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the UAE non-oil private sector. (Shutterstock)
June 5th, 2018 - 10:17 GMT

UAE Non-Oil Private Sector Growth Accelerates to Four-Month High

One has to work almost 6 days to earn enough to buy an iPhone X. (Shutterstock)
June 5th, 2018 - 07:40 GMT

Riyadh Among World’s Costly Cities

Egypt witnessed a 22 % annual growth in the total amount of online payments, estimated at $6.2 billion of transactions in 2016. (Shutterstock)
June 5th, 2018 - 06:51 GMT

Egypt Plans to Impose VAT on All Online Transactions

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