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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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The initiative aims to enhance the awareness of commercial enterprises about the application of value-added tax (VAT) in accordance with the law.
January 30th, 2018 - 12:04 GMT

DED-Ajman Organizes VAT Awareness Campaign for Outlets in Shopping Malls

The Saudi Minister of Labor Dr. Ali Al-Ghafees issued a decision on Monday restricting work in 12 activities and occupations to Saudis. (AFP/ File)
January 30th, 2018 - 10:31 GMT

Foreigners Banned from Working in 12 Jobs: Saudi Minister

Egypt and the US are keen to promote economic and trade cooperation in various fields. (Pictured here: Tareq Qabil, Egypt's Minister of Trade and Industry/ AFP)
January 30th, 2018 - 10:16 GMT

Egypt's Non-Oil Exports to US up 18 Percent in 2017: Minister

Some GCC countries could double the VAT rate to 10 percent, analysts said on Sunday. (File photo)
January 29th, 2018 - 11:22 GMT

Some GCC Countries Could Double VAT to Boost Revenue: Analysts

Abdullah Bin Ahmed Al Saleh, Ministry’s Undersecretary for Foreign Trade Affairs
January 29th, 2018 - 10:54 GMT

UAE Ministry of Economy Organizes a High-Level Delegation to Visit Malaysia and Singapore

Oman's Ministry of Manpower on Sunday issued a decision for banning issuance of new visas for workers in 87 professions. (AFP)
January 29th, 2018 - 10:39 GMT

Oman Bans Expats From Working in 87 Professions: Full List

Ahmad Sharaf, DME Chairman
January 29th, 2018 - 10:32 GMT

Dubai Mercantile Exchange Hosts Its Latest Auction on Behalf of Iraq’s National Oil Company

Saad Hariri called on all ministries and public institutions to cut their 2018 budgets by 20 percent. Is it enough to reduce the country's deficit? Economists weigh in. (AFP)
January 29th, 2018 - 08:50 GMT

Lebanon: Hariri's 20 Percent Budget Cut, Enough to Reduce Deficit?

Sponsors in Saudi Arabia are now required by law to issue pre-paid ATM cards for housemaids and domestic drivers. (Shutterstock)
January 28th, 2018 - 11:42 GMT

Domestic Workers’ Bank Cards a ‘Welcome Move’: Saudi Arabia

Qatar achieves a trade surplus in December 2017. (File photo)
January 28th, 2018 - 11:27 GMT

Despite Blockade: Qatar’s Trade Surplus Jumps 40 Percent in December

According to the Ministry of Energy, 98 Unleaded Gasoline price has been raised to Dh2.36, 95 Unleaded Gasoline to Dh2.25 and 91 Unleaded Gasoline to Dh2.17. (KT)
January 28th, 2018 - 10:26 GMT

After January Hike, UAE Raises Fuel Prices for February

Prince Alwaleed was freed on Saturday after reaching a settlement with the Saudi authorities. (Bertrand Guay/ AFP)
January 28th, 2018 - 10:16 GMT

Pay and Leave: Saudi Arabia to Bag $100 Billion in Settlements With Princes

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