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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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Turkey is raising its minimum wage by 14.5 percent as of January 1. (AFP)
January 2nd, 2018 - 01:00 GMT

Turkey Raises Minimum Wage by 14.5 Percent in 2018

Saudi Arabia started on Monday applying VAT as part of plans to boost revenue. (Shutterstock)
January 2nd, 2018 - 11:46 GMT

Saudi Arabia Expects $9 Billion VAT Revenue in First Year

In its 2018 state budget Jordan has included, for the first time, a social safety network to make up for the rising cost of living. (AFP)
January 2nd, 2018 - 11:00 GMT

Jordan Introduces Cash Support to Poorer Citizens in 2018 Budget

The initiative by Dubai Customs will provide 17 minors with career guidance to help them choose their best academic and career path.
January 2nd, 2018 - 09:39 GMT

Dubai Customs Commences Year of Zayed With 'A Touch of Giving' Initiative

Gaurang Desai, CEO of DGCX
January 2nd, 2018 - 09:32 GMT

DGCX Closes 2017 with Numerous Achievements

Inflation in Saudi Arabia is likely to rise in coming months on the back of the hike in electricity prices, fuel prices and implementation of a VAT regime. (AFP)
January 2nd, 2018 - 09:00 GMT

Inflation to Rise in Saudi Arabia With VAT, New Fuel Prices

The introduction of a VAT regime in the UAE marks the beginning of a new era for the UAE economy where the general public will start sharing the burden of budgetary expenditure. (AFP)
January 2nd, 2018 - 08:00 GMT

VAT Begins in UAE: How Will It Affect Purchasing Power?

Iran and Russia are finalizing an agreement between their central banks to overcome financial sanctions by the US. (AFP)
January 1st, 2018 - 09:37 GMT

Iran, Russia Finalizing Deal to Integrate Their Banking Systems

From the year’s biggest IPOs to Saudi Arabia’s new dependent fee and the Qatar crisis, here’s a roundup of some of the most significant business stories of 2017. (AFP)
December 31st, 2017 - 05:28 GMT

2017 Year in Review: Al Bawaba’s Top 10 Business Stories

Qatar’s trade surplus expanded to QR12.8 billion in November, a 32 percent jump from a year ago. (Shutterstock)
December 31st, 2017 - 10:00 GMT

Qatar’s Trade Surplus Up 32 Percent in 2017, Despite Blockade

Saudi Arabia has announced that it is working on a mechanism to return the value-added tax (VAT) to tourists in 2018. (Shutterstock)
December 31st, 2017 - 09:00 GMT

Tourists to Get Refund on VAT Paid in Saudi Arabia

Public transportation in the UAE under the Executive Regulations Article 45 are exempt. (File photo)
December 28th, 2017 - 10:00 GMT

No VAT on Dubai Metro, Taxis in UAE

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