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AI Data Center

June 29th, 2026 - 06:34 GMT

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 ...

The agreement was signed on the part of Dubai Customs by Ibrahim Kamali, director of Passenger Operations Department, and on behalf of Emirates Airlines by Badr Al Shehhi, divisional vice-president, Baggage and Operations Services, in the presence of officials from both sides.

July 30th, 2017 - 05:54 GMT

Dubai Customs and Emirates Airlines Sign Agreement to Raise Service Standards

Banks and other financial institutions in the UAE to freeze all bank accounts of groups and individuals mentioned in the new terror list issued by Saudi Arabia and its allies on July 25, 2017. (AFP/ File)

July 27th, 2017 - 01:05 GMT

UAE Freezes Accounts of Individuals, Entities in Qatar-Linked Terror List

With oil prices remaining relatively low, countries in the GCC are faced with the urgent need to diversify their economies. (AFP/ File)

July 26th, 2017 - 11:43 GMT

Diversification and Growth: Are There Lessons for GCC Countries?

DP World's core business is container handling which generates more than three quarters of its revenues. (File photo)

July 26th, 2017 - 09:52 GMT

'No Serious Impact From Qatar Ban on Container Volumes,' Says DP World

The ADM has directly reached out to workers at Al Wathba and offered them caps, cold water and juices to alleviate the hot sunny conditions they are experiencing during their work.

July 26th, 2017 - 09:30 GMT

ADM Distributes Caps, Water and Juice to Workers at Al Wathba

The agency said the foreign assets of the Saudi banks reached their highest level in May since July 2016. (AFP/ File)

July 26th, 2017 - 06:00 GMT

Saudi Arabia's Foreign Assets Close to SR2 Trillion: SAMA

Turkey claims most foreign funds are linked to EU member countries. (File photo)

July 25th, 2017 - 10:20 GMT

Foreign Investment in Turkey up 11.2 Percent in First 5 Months of 2017

Saudi Arabia offered its first Riyal-denominated Sukuk to investors on Sunday this week. (File photo)

July 25th, 2017 - 09:38 GMT

Saudi Arabia Gets Bids of $13.6 Billion for $4.5 Billion Domestic Sukuk: SPA

Oman recorded a deficit of 21 percent of its GDP in 2016 as the oil price plunged to its lowest level in years. (File photo)

July 25th, 2017 - 09:25 GMT

Oman Slashes Subsidy Bill by 20 Percent, Eyes Further Cuts

The government policy announced earlier this year for import restrictions is bearing its fruits. (Facebook/ R. Boudraa)

July 25th, 2017 - 08:39 GMT

Algeria Announces 54 Percent Drop in Trade Deficit in H1 2017

By limiting jobs in grocery stores to Saudis, the country expects to generate more than 20,000 job opportunities for citizens. (AFP/ File)

July 25th, 2017 - 08:28 GMT

First Malls, Now Supermarkets: Saudi Arabia Bans Foreigners From Grocery Store Jobs

The recent decline in oil prices could weigh further on the outlook for the region's oil exporters. (File photo)

July 25th, 2017 - 08:12 GMT

Middle East Growth Dips in 2017 on Lower Oil Prices: IMF