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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 Suez Canal’s revenues from January to July 2017 amounted to $2.938 billion compared to $2.919 billion in the same period last year. (File photo)
August 8th, 2017 - 08:11 GMT

Egypt's Bet on Suez Canal Paying Off: Revenues up in First 7 Months of 2017

Egypt's foreign reserves have been on the rise since the country floated its currency and clinched a deal with the IMF for a three-year $12 billion loan. (AFP/ File)
August 7th, 2017 - 02:09 GMT

Egypt Foreign Reserves Hit Record High in July, But Why?

Experts are of the view that the new expat tax will bring down housing rents in Saudi Arabia by 10 to 20 percent. (File photo)
August 7th, 2017 - 01:44 GMT

More Jobs, Lower Rents with Saudi Arabia's New Expat Tax: Analysts

During the first three months of 2017 the Bahraini economy expanded by 2.9% overall. (Photo supplied)
August 7th, 2017 - 12:05 GMT

Bahrain’s Non-Oil Sector Grows to 4.4 Percent in Q1 2017: Report


The workshops will support the Chamber in its efforts to provide more clarity for businesses on VAT, and enhance their understanding of its impact on the UAE’s private sector.
August 7th, 2017 - 05:16 GMT

Dubai Chamber to Host Workshops on VAT

Turkish president Recep Tayyip Erdogan. (File photo)
August 6th, 2017 - 07:00 GMT

Turkey's Exports Soar to Six-Year High in July: Exporters Unit

The Red Sea tourism project was launched on Monday and is expected to create as many as 35,000 jobs. (Pixabay)
August 6th, 2017 - 05:00 GMT

Saudi Arabia Expects to Create 35,000 Jobs With New Red Sea Project

Some neighborhoods in Riyadh have a lot of runaway expat workers who do not have any ID documents and can be seen walking the streets searching for random jobs. (AFP/ File)
August 6th, 2017 - 10:11 GMT

Saudi Arabia Cracks Down on Employment of Runaway Workers, Housemaids

The loan brings to over $10 billion Oman’s external borrowing in 2017. (File photo)
August 6th, 2017 - 09:49 GMT

Heavily Indebted, Oman Uses $3.5 Billion Chinese Loan to Balance the Books

Iraq is oil rich and has significant potential for economic development and growth. (File photo)
August 6th, 2017 - 09:30 GMT

Moody's Assigns Caa1 Issuer Rating to Iraq, Outlook Stable

The new scheme aims to provide housing at rents ranging from Dh70 ($190.59) to Dh2,100 ($571.76) per month. (File photo)
August 6th, 2017 - 09:21 GMT

Abu Dhabi Launches New Affordable Housing Plan for Low-Income Groups

Manufacturing industries contributed 6.9 percent to the emirate’s economic output in 2016. (File photo)
August 6th, 2017 - 09:03 GMT

Abu Dhabi: 16 New Factories Enter Production in H1 2017

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