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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 number of expat workers in Saudi Arabia has gone down by about 62,000 by the end of the second quarter of this year since the application of the dependent fee. (AFP/ File)
December 20th, 2017 - 12:59 GMT

62,000 Expats Leave as Saudi Arabia Enforces Dependent Fee

Mariam Al Afridi was the only Arab to appear on the list, which is published annually and honors members of the marketing community who have delivered extraordinary work.
December 20th, 2017 - 10:59 GMT

Emirati Mariam Al Afridi Wins ‘Most Influential Global Marketing Leader’ Award

King Salman on Tuesday announced Saudi Arabia’s largest-ever budget for 2018. (AFP/ File)
December 19th, 2017 - 04:11 GMT

Saudi Arabia Announces $260 Billion Budget for 2018, Its Largest Ever

The tax will have minimal economic impact on people and investments, says UAE Minister. (Shutterstock)
December 19th, 2017 - 02:44 GMT

No Increase in Salaries to Cope With VAT: UAE

The Forum was aimed to strengthen the partnership between Dubai Economy and the business community in Dubai.
December 19th, 2017 - 10:29 GMT

Dubai Economy Discuss Future-Readiness at 2nd Business Community Engagement Forum

The Municipality has recently accomplished a project for improving the landscaping of roads in the surrounds of the Sheikh Zayed Grand Mosque, Wahat Al Kararma in Abu Dhabi.
December 19th, 2017 - 05:42 GMT

Abu Dhabi Municipality Completes Landscaping Project Near Sheikh Zayed Mosque

Senior bankers in Saudi Arabia have clarified that money sent home by expat workers will not be taxed under the new VAT. (Shutterstock)
December 18th, 2017 - 12:33 GMT

No VAT on Expat Remittances in 2018: Saudi Arabia

The campaign has witnessed a remarkable improvement in the size and diversity of events, and participation of the community, entities and educational institutions.
December 18th, 2017 - 08:44 GMT

Abu Dhabi Municipality Concludes 'Our Parks' Campaign 2017

Sultan Ahmed bin Sulayem, DP World Group Chairman, during the inauguration
December 17th, 2017 - 11:47 GMT

TEKNO 2017 Opens Today in Dubai

ADFD has allocated AED10.5 billion towards financing 26 development projects in Bahrain spanning the housing, energy, transportation and healthcare sectors.
December 17th, 2017 - 09:24 GMT

Abu Dhabi Fund for Development Allocates Dh10.5 Billion to Finance 26 Strategic Projects in Bahrain

Engineer Saed Al Awadi, CEO of Dubai Exports
December 17th, 2017 - 08:23 GMT

Dubai Exports Brings Businesses in UAE and Vietnam Closer to Explore Trade Links

Lebanon's real GDP growth is expected to pick up in 2018 supported by the reopening of trade routes with Syria and Iraq by mid-2018. (File photo)
December 14th, 2017 - 02:07 GMT

Reopening Syria, Iraq Trade Routes Will Add to Lebanon's 2018 GDP Growth

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