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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 increased fuel prices in Bahrain came into effect from 2:00pm yesterday. (AFP)
January 9th, 2018 - 10:04 GMT

Bahrain Raises Gas Prices Closer to International Levels

Foreigners applying to work in the UAE will soon be required to obtain a good conduct and behavior certificate to receive a work visa. (Shutterstock)
January 9th, 2018 - 08:40 GMT

UAE Introduces ‘Good Behavior’ Criteria for Hiring Expats

During the focus group gathering
January 9th, 2018 - 07:09 GMT

DED-Ajman Organizes Focus Group Gathering to Develop Licensing Procedures

The seized goods were confiscated and a ticket was issued against the individuals who illegally trade in such materials by exploiting the rented residential house.
January 9th, 2018 - 06:35 GMT

Abu Dhabi DED Seizes 10,500 Fake Car Parts

In its latest report, the Iranian Parliament Research Center put the country’s economic growth in the current year at 4.1 percent. (AFP)
January 8th, 2018 - 06:00 GMT

Amid Unrest: Iran Expects Economy to Grow 4 Percent in 2018

As the Lebanese bid farewell to 2017, economists are busy now analyzing the challenges Lebanon will face in 2018 hoping to revitalize the sluggish economy. (Ibrahim Chalhoub/ AFP)
January 8th, 2018 - 02:00 GMT

Challenges Facing Lebanon in 2018, and How to Solve Them

Kuwait's new budget will be dominated by various reform measures to help fight the hardships the economy is facing.  (Pictured here: Sabah Al-Ahmad Al-Sabah, ruler of Kuwait/ AFP)
January 8th, 2018 - 10:54 GMT

Kuwait Projects Higher Revenues in 2018-2019 Budget

Saudi government employees receive SR12.7 billion in salaries every month. (John Moore/ AFP)
January 8th, 2018 - 10:00 GMT

Saudi Arabia Spends $43.5 Billion on Government Employees in 2017

Saudi Arabia has launched a new entrepreneurship licence, open to both citizens and residents alike. (AFP)
January 8th, 2018 - 08:14 GMT

Saudi Arabia Unveils New Entrepreneur License for Citizens, Residents

VAT revenues will be used to achieve better local services, greater community development and broader support for UAE citizens. (Shutterstock)
January 8th, 2018 - 07:31 GMT

UAE: 70 Percent of VAT Will Go to Local Governments

By incorporating Aramco, the government will be able to offer equity in it either on domestic or foreign stock exchanges, or to any outside investor.
January 7th, 2018 - 02:17 GMT

Saudi Aramco IPO a Step Closer as Decree Creates New Corporate Structure

The report also expressed fear of a devastating war with Israel over the next five years. (AFP)
January 7th, 2018 - 11:53 GMT

Political Uncertainty Could Slow Lebanon’s Economic Growth: Report

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