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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 agreement was signed at Dar Al Ber main office by Khalil Saqer bin Gharib, Director of Corporate Communication Department and Hisham Ali Al Hashimi, Deputy Executive Director of Dar Al Ber Society.
December 28th, 2017 - 09:59 GMT

Dubai Customs Concludes Year of Giving Building a Mosque in Niger

Qatar facilitated faster customs procedures in 2017, which in turn helped diversify the sources of direct imports to the country. (File photo)
December 28th, 2017 - 09:00 GMT

Qatar Finds New Suppliers of Strategic Goods in 2017: Official

The skills in highest demand in 2018, which are likely to see an increase salary wise, are VAT expertise and digital. (File photo)
December 28th, 2017 - 08:00 GMT

Will Your Pay Hike Beat VAT in UAE?

Turkish Economy Minister Nihat Zeybekci said the country is expected to exceed its revised export target of $156.5 billion by the end of 2017. (AFP)
December 27th, 2017 - 11:06 GMT

Turkey’s Exports to Exceed Targets in 2017: Official

Inflation in Saudi Arabia is expected to pick up dramatically in 2018, with the implementation of VAT and new fuel prices. (Hassan Ammar/ AFP)
December 26th, 2017 - 12:22 GMT

VAT Is Coming: Saudis Brace For Rising Inflation In 2018

Beirut is filled with sparkly Christmas decorations, but to the dismay of many Lebanese merchants the streets are largely empty of holiday shoppers. (alexander_photography97/ Instagram)
December 26th, 2017 - 12:01 GMT

'People Aren’t Coming to Lebanon': Retailers Blame Political Situation for Drop in Sales

Oman has announced it will postpone the implementation of the value-added tax (VAT) until 2019. Kuwait could follow suit, experts say. (File photo)
December 26th, 2017 - 11:22 GMT

Oman to Postpone VAT Until 2019, Kuwait Could Follow

The Middle East's initial public offering (IPO) values were up 55 percent year-on-year, from $676 million to $2.1 billion in 2017, according to a report by global law firm Baker McKenzie. (AFP/ File)
December 24th, 2017 - 01:16 GMT

Middle East's IPOs up 55 Percent in 2017: Report

Dh17,500 will be the minimum salary of an Emirati employee with Sharjah government starting next year. (Pictured here: Sheikh Sultan Al Qasimi, Ruler of Sharjah/ WAM)
December 21st, 2017 - 02:27 GMT

Sharjah Ruler to Increase Salaries of Government Staff in 2018

The King Salman Humanitarian Aid and Relief Center (KSRelief) has already spent $8.2 billion on aid for Yemen since its opening in 2015, according to a report. (AFP/ File)
December 21st, 2017 - 09:58 GMT

Saudi Arabia to Set up $10 Billion Fund for Reconstruction in Yemen

Wawrinka and Raonic confirmed that they are not yet ready to compete following their respective time away from the game.
December 21st, 2017 - 08:32 GMT

Kevin Anderson and Andrey Rublev Replace Wawrinka and Raonic at Mubadala World Tennis Championship

A Tunisian woman holds a placard reading in French "Tunisia will remain standing" as she takes part in a protest on March 18, 2015 after an attack on the Bardo National Museum in Tunis. (Sofiene Hamdaoui/ AFP)
December 20th, 2017 - 03:21 GMT

Opinion: Will Tunisia's Economy Ever Be Good Again?

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