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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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Unemployment in the UK hit 4.2 percent, down from 4.7 percent a year earlier. (AFP/ File)
April 18th, 2018 - 11:20 GMT

UK's Unemployment Falls to 4.2 Percent, Its Lowest Since 1975

The UAE's economy is expected to grow at 3 percent next year, according to the IMF. (File photo)
April 18th, 2018 - 10:46 GMT

UAE's Economy to See 3 Percent Growth in 2019: IMF

The demand for online retail in the UAE, and the region, will continue to grow, according to experts. (File photo)
April 17th, 2018 - 12:00 GMT

Online Retail in Middle East Region Will Continue to Grow: Experts

Turkey's budget balance saw a deficit of $5.34 billion in the first quarter of 2018, the Finance Ministry announced on Monday. (AFP/ File)
April 17th, 2018 - 10:55 GMT

Turkey Posts $5.3 Billion Budget Deficit in Q1, Expenses up 17 Percent

UAE residents are less confident about their financial status compared to a year ago, according to a new survey. (File photo)
April 17th, 2018 - 10:05 GMT

UAE Residents Worried About Job Security, Cost of Living in 2018: Survey

On Sunday, Middle East equity markets were bullish. (AFP/ File)
April 16th, 2018 - 11:00 GMT

Week Ahead: How Will Geopolitical Risks Affect Global Markets, Oil Prices?

A company in Dubai has rolled out diamond-backed crypto assets and will sell it though blockchain technology. (Shutterstock)
April 16th, 2018 - 09:25 GMT

Diamond-Backed Crypto Assets Now Launched in Dubai

Whether cryptocurrencies are a good investment remains to be explored. (File photo)
April 15th, 2018 - 01:00 GMT

Gold or Cryptocurrencies? 3 Things You Need to Know Before You Invest

Egypt aims to cut petroleum subsidies by about 26%, and electricity subsidies by 47% in the draft budget for 2018/19. (File photo)
April 15th, 2018 - 11:43 GMT

Egypt Announces Deep Cuts in Petroleum, Electricity Subsidies in 2018/2019 Budget

Dubai on Saturday announced new economic initiatives to boost the emirates’s economy. (File photo)
April 15th, 2018 - 10:01 GMT

Dubai Unveils New ‘Stimulus Plan’ to Boost Economy: Details

As many as 811,000 expatriates have left the Kingdom on final exit visa in the past 18 months. (AFP/ File)
April 12th, 2018 - 04:10 GMT

Saudi Arabia: 1,500 Expats Leaving Every Day in Past 18 Months

King Abdullah Port has the world’s deepest 18-meter water berths and state-of-the-art processing facilities. (File photo)
April 12th, 2018 - 07:00 GMT

Saudi Arabia: King Abdullah Port 8th Fastest Growing Port in the World

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