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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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According to recent statistics, the Mice sector's annual contribution to the UAE economy stood at Dh2.39 billion and is anticipated to grow to Dh5.1 billion by 2020. (Pexels)
May 16th, 2018 - 07:45 GMT

VAT Refund to Boost MICE Industry in the UAE

Mortgage buyers are advised to secure the home of their dreams before repayment costs increase. (Shutterstock)
May 16th, 2018 - 07:40 GMT

A Home in Dubai? New Opportunity for Expats

Jafza’s top markets by region were the Middle East at 40%, Asia at 31% and Europe at 13%.
May 15th, 2018 - 11:05 GMT

Jafza Generates Over $83 Billion in Trade

The upward move in the largest crypto came after hitting a low of $8,204.50 on Saturday, its lowest level since April 19. (Shutterstock)
May 15th, 2018 - 07:28 GMT

Bitcoin Bounces Back From 3-Week Low

Meeting with the Latvian President H.E Raimonds Vejonis.
May 15th, 2018 - 05:40 GMT

Latvian President Affirms Commitment to Boost UAE Ties

The event comes as part of DMCC’s ongoing programme to raise awareness of sustainability, and encourage its member companies to join the global cause.
May 14th, 2018 - 02:01 GMT

'Strive for Gender Equality' – the Message From DMCC During Its Latest Knowledge Series Event for Member Companies

Dr. Leila Hoteit, Partner and Managing Director at The Boston Consulting Group.
May 14th, 2018 - 11:40 GMT

The UAE’s Private K-12 Education Market Will Grow by Approximately 40 Percent in the Next 5 Years: BCG

During the meeting, both parties discussed opportunities and ideas on how to further cooperation and collaboration across joint innovative and creative projects.
May 14th, 2018 - 10:21 GMT

Department of Economic Development-Ajman Welcomes Visit of Delegation From Ministry of Economy

During the meeting, DIEDC’s Board of Directors also reviewed a study of the Islamic economy’s contribution to Dubai’s GDP, prepared by Dubai Statistics Centre.
May 14th, 2018 - 09:27 GMT

Dubai Islamic Economy Development Centre: Islamic Economy Contributes 8 Percent of Dubai’s GDP

Violations ranged from issuing VAT invoices without all the required information to collecting taxes that exceed 5 percent, not including a tax number on the invoices and eligible businesses not registering for VAT. (Shutterstock)
May 14th, 2018 - 09:02 GMT

More Than 5,000 VAT Violations Issued in Saudi This Year

According to the campaign, a total of 778,748 expatriates have violated the system of residency, 193,621 the work laws and 87,519 the system of border security.
May 13th, 2018 - 02:00 GMT

More Than a Quarter of a Million Expats Deported

During its visit to DED-Ajman’s headquarters in the Corniche Building, the business groups awarded a trophy to the Department.
May 13th, 2018 - 10:45 GMT

Leading Global Brands & Law Firms Recognize DED-Ajman’s Remarkable Deeds

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