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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 move is expected to encourage exports to countries such as Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan. (File photo)
September 4th, 2017 - 02:01 GMT

Iran Lifts Tariffs on Food Exports to Eurasian Countries

The new VAT will be effective from January 1, 2018. (File photo)
September 4th, 2017 - 01:56 GMT

Saudi Arabia Issues Final VAT Implementing Regulations: Details

The data gathered keeps track of the daily total number of pilgrims, classified by their nationalities, time and place of arrival and vehicle types. (SPA)
August 31st, 2017 - 12:46 GMT

Saudi Arabia Uses 400 Statisticians, High-Tech System to Track Hajj Data

S&P affirmed this week its 'AA-/A-1+' long- and short-term foreign and local currency sovereign ratings on Qatar. (Shutterstock)
August 29th, 2017 - 11:28 GMT

Qatar’s Outlook Negative as Long as Blockade Remains: S&P

A view of Lebanon's capital, Beirut. (AFP/ File)
August 28th, 2017 - 02:15 GMT

Lebanon's Government Debt to Reach 140 Percent of GDP in 2018: Moody's

The number of foreign workers in the Kingdom is expected to decline from 12.2 million - or 37 percent of the country’s population - to 32.6 percent by the middle of 2017. (AFP/ File)
August 28th, 2017 - 12:44 GMT

Expat Remittances Drop 8 Percent as Saudi Arabia Enforces Expat Fee

Only 192 M&A deals were recorded across the region during the first half of 2017, compared to 250 deals in 2016. (Shutterstock)
August 28th, 2017 - 11:57 GMT

Middle East's M&A Deals Drop 23 Percent in First Half of 2017: Report

UAE president, Sheikh Khalifa bin Zayed Al Nahyan. (File photo)
August 28th, 2017 - 10:52 GMT

UAE President Approves 5 Percent Value-Added Tax, to Start in 2018

Mecca is set to host 30 million pilgrims and Umrah performers by 2030. (File photo)
August 28th, 2017 - 10:22 GMT

Economics of Hajj: Umrah, Hajj Revenues to Exceed $150 Billion by 2022

Sudanese President Omar al-Bashir walks past Chinese military honor guard during a welcoming ceremony in Beijing on June 29, 2011. (Liu Jin/ AFP)
August 27th, 2017 - 11:53 GMT

Sudan Gets $160 Million in Debt Relief From China

The country said it would allow complete foreign ownership of all types of education centers, including primary schools. (Amer Salem/ AFP)
August 27th, 2017 - 10:12 GMT

Saudi Arabia to Allow Full Foreign Ownership for Health, Education Sectors

DP World's first-half revenues were up 9.6 percent to $2.29 billion, from $2.09 billion in June 2016. (File photo)
August 27th, 2017 - 10:05 GMT

DP World's Cash Flow Steady Despite Flat First-Half Results: CEO

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