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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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Billionaire and businessman Prince Alwaleed bin Talal was among those who were detained in a sweeping anti-corruption purge of the Saudi elite. (AFP/ File)
December 6th, 2017 - 03:04 GMT

Most Detained in Saudi Purge Agree to Cash Settlements: Attorney General

The UAE is the second-largest recipient country of foreign direct investment (FDI) in the Middle East, and the 11th largest in Asia. (File photo)
December 6th, 2017 - 02:42 GMT

UAE Second-Largest Recipient of FDI in Middle East

Turkey's inflation rose exponentially during 2017, from 9 percent in January to almost 13 percent in November. (AFP/ File)
December 5th, 2017 - 02:22 GMT

Turkey's Inflation Hits 14-Year High in November

Shops found to be employing foreigners will face a fine of SR20,000 ($5,324) for each expat worker. (File photo)
December 4th, 2017 - 02:12 GMT

Saudi Arabia Bans Foreigners from Working in Gold, Jewelry Shops

According to a press statement, the department has vowed to increase Emiratisation by attracting national talents and providing an ideal environment that supports citizens as well as contributes to forming young Emirati leaders capable of planning for the future.
December 4th, 2017 - 08:12 GMT

Sharjah Economic Development Department Announces 94 Percent Emiratisation Rate

S&P Global Ratings on Friday lowered Bahrain’s long-term foreign and local currency sovereign credit ratings to ‘B+’ from ‘BB-'. (Shutterstock)
December 3rd, 2017 - 06:00 GMT

Bahrain's Economy Remains Stable Despite S&P Rating: Central Bank

Prince Mohammed Bin Salman figures on this year's list of Bloomberg 50 Most Influential People. (AFP/ File)
December 3rd, 2017 - 01:57 GMT

Mohammed Bin Salman Among Bloomberg 50 Most Influential for 2017

Banks across Saudi Arabia are preparing for the transition from one riyal notes to one and two riyal coins. (Courtesy of SAMA)
December 3rd, 2017 - 01:13 GMT

Saudi Banks Prepare to Deal With 1 Riyal Coins, Instead of Paper

Reem bint Ibrahim Al Hashimi, Minister of State for International Cooperation
December 3rd, 2017 - 12:48 GMT

Sultan Al Qasimi to Attend First Women’s Economic Empowerment Global Summit Tomorrow

The trade agreements in the fields of economy, trade, industry, oil and aviation were signed on the sidelines of Prince Salman’s official visit to the US.
December 3rd, 2017 - 12:07 GMT

Bahrain Inks $10 Billion Trade Agreements With US

Al Zahya Development Project is part of Abu Dhabi Plan and vision.
December 3rd, 2017 - 10:03 GMT

ADM Continues Zahya Development Including Four Bridges Linking With Maria Island

Director of Dubai Customs Ahmed Mahboob Musabih
December 3rd, 2017 - 07:01 GMT

Dubai Customs’ Smart Refund Initiative Supports Dubai in Hosting Expo 2020

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