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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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Mohammed Fathy, General Manager of Jones & Clark consultancy
January 4th, 2018 - 10:09 GMT

Myths and Misconceptions Surrounding VAT: Jones & Clark

Saudi Arabia said the revenue from VAT would go towards infrastructure and developmental works. (AFP)
January 4th, 2018 - 09:59 GMT

Over $9 Billion From VAT in 2018: Saudi Arabia

Can salary increases in the UAE this year cushion the impact of VAT on residents’ wallets? (Shutterstock)
January 4th, 2018 - 08:58 GMT

Will Salary Hikes in UAE Make VAT More Bearable in 2018?

The General Authority for Zakat in Saudi Arabia has announced that all lease contracts concluded before January 1 are exempt from VAT. (Shutterstock)
January 4th, 2018 - 08:01 GMT

Pre-2018 Leases, Mortgages Exempt From VAT: Saudi Arabia

Oman has dedicated the largest share of its 2018 budget of about $32.5 billion to the education, health and social welfare sectors with $10 billion. (AFP)
January 4th, 2018 - 07:02 GMT

Oman Dedicates $10 Billion for Education, Health in 2018 Budget

Oman’s economy is expected to grow by a minimum of 3 percent in 2018. (Pictured here: Sultan Qaboos of Oman /AFP)
January 3rd, 2018 - 07:00 GMT

Oman’s 2018 Budget Projects Economic Growth of 3 Percent

Aid agencies have warned that about eight million people in the country are on the brink of famine with outbreaks of cholera and diphtheria. (AFP)
January 3rd, 2018 - 01:00 GMT

Yemen Announces First Budget Since Beginning of War

Ahsan Iqbal Chaudhary, Pakistan’s Federal Minister of Interior and Minister of Planning, Development, and Reform
January 3rd, 2018 - 12:53 GMT

Pakistani Minister Shares his Insight at GU-Q

No changes on the dependent fee this year, says Saudi Arabia. (AFP)
January 3rd, 2018 - 12:00 GMT

Saudi Arabia: Dependent Fee on Track, to Hit SR400 by 2020

The UAE is firmly on course to be one of the best performers among other regional economies over the next five years. (Pixabay)
January 3rd, 2018 - 11:40 GMT

Trade, Tourism Main Drivers of UAE’s Growth Over Next 5 Years: Analysts

Omar Al Hamli, Executive Director, Business Support in Trakhees; Musabbah Al Qaizi, Head of Electronic Banking Services & IT; and Naveed Ali, Chief of Corporate Banking, DIB, during the signing ceremony.
January 3rd, 2018 - 10:57 GMT

Trakhees Signs Agreement With Dubai Islamic Bank for Direct Payment Options

Khamis Juma Buamin, Managing Director and Group CEO of Gulf Navigation
January 3rd, 2018 - 07:27 GMT

Gulf Navigation Announces Increasing Its Capital Through IPO to Dh1 Billion

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