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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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This announcement came as a result of efforts made by the Ministry of Finance (MoF) in cooperation with relevant entities in federal and local government.
May 20th, 2018 - 11:24 GMT

UAE Joins the Inclusive Framework on Base Erosion and Profit Shifting (BEPS)

Everyone agrees that Hezbollah can always find ways to bypass the “American fist” around it. (AFP/File)
May 20th, 2018 - 08:26 GMT

The Repercussions of the New Sanctions Against Hizbollah on the Lebanese Business Sector

The conditions state that in order to refund VAT, applicants must be UAE national. (Shutterstock)
May 20th, 2018 - 07:08 GMT

4 Steps to Refund VAT for UAE Nationals

Dubai Customs has won the best idea at the World Ideas Award 2016 organised in Frankfurt, Germany for developing an android robot inspector.
May 20th, 2018 - 06:02 GMT

DQG and Ideas Arabia Honour Dubai Customs for Sponsoring World Ideas Award 2018

Cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Lite and Dash, are taking the world by storm. (Shutterstock)
May 17th, 2018 - 12:00 GMT

Are Cryptocurrencies Really the Future of Money?

The drop in total crypto market cap further below $400 billion signalled the lack of the demand for cryptos amid widespread selling. (Pixabay)
May 17th, 2018 - 07:30 GMT

Bitcoin Falls as 'Consensus Pump' Fails to Materialise

May 17th, 2018 - 05:39 GMT

Ports, Customs, and Free Zone Corporation Takes Part in the Institute of Internal Auditors International Conference 2018

The ITL programme enables firms to test innovations in financial technology (FinTech) in or from the Dubai International Financial Centre (DIFC).
May 16th, 2018 - 02:11 GMT

DFSA Expands Fintech Innovation Testing Programme

The regulations apply to all electronic media activities carried out within the UAE, including those in free zones. (Pexels)
May 16th, 2018 - 12:00 GMT

Social Media Influencers in UAE Urged to Register by Month-End

During the meeting, H.E. Skvernelis spoke about Lithuania’s plans to expand infrastructure at its airports and ports.
May 16th, 2018 - 10:32 GMT

Lithuanian Prime Minister highlights prospects for expanding cooperation with UAE

Oil prices briefly rose above $79 a barrel on Tuesday, making the prospect of introducing a new levy in a country unused to taxation is even less appealing. (Pexels)
May 16th, 2018 - 09:00 GMT

Kuwait Postpones VAT on Recovering Oil Revenues

Blockchain — which acts as a digital public ledger that records transactions — could cut out the need for much of this paper-based documentation. (Shutterstock)
May 16th, 2018 - 08:07 GMT

Blockchain and Fintech Can Bridge Global Trade Gap

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