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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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Moody’s said that Islamic banks perform better primarily as a result of their low funding costs, which reflect their reliance on largely stable current and savings account balances. (File photo)
March 19th, 2017 - 06:00 GMT

Gulf Islamic banks set to outperform conventional banks for second year: Moody's

The contracts have been included in the fiscal budget of 2017/2018 and are part of the integrated plan which involves 42 contracts. (Shutterstock/MikeDotta)
March 19th, 2017 - 05:11 GMT

Kuwait to award over $164M for infrastructure works

Government employees and public and private school teachers have routinely protested for increased benefits and full employment. (File photo)
March 16th, 2017 - 03:00 GMT

Lebanon considers salary hikes for teachers, government employees

Low prices of soft drinks and junk food have been blamed for rising rates of diabetes and obesity across the Gulf region.  (Shutterstock/Dmitrydesign)
March 16th, 2017 - 02:00 GMT

Will the UAE's sweet drinks and tobacco tax curb consumption?

The agreements between Saudi Arabia and China will cover a variety of issues, ranging from energy to space technology. (AFP/Lintao Zhang)
March 16th, 2017 - 12:53 GMT

King Salman visits China, signs deals worth $65B

Governments in the Middle East are committed to energy reforms and have implemented energy reducing tactics. (Shutterstock)
March 16th, 2017 - 12:00 GMT

MENA's renewable energy M&As on the rise: EY

The new rules will allow schools to operate in their existing premises if they follow all safety and security procedures and have a plan to renovate and develop the rented buildings.  (File photo)
March 16th, 2017 - 11:00 GMT

Saudi Arabia u-turns on closing private schools amid backlash

 IATA expects 2017 to see a further decline in profitability. (File photo)
March 16th, 2017 - 10:00 GMT

Protectionist rhetoric will hurt GCC aviation sector: IATA

The drop in the price of oil has caused large-scale damage to the economies of the region. (File photo)
March 16th, 2017 - 08:58 GMT

Drop in MENA banks' liquidity expected in 2017: World Union of Arab Bankers

US and Saudi officials intend to consult on additional steps to deepen commercial ties and promote investment, and to expand cooperation in the energy sector. (AFP/Nicholas Kamm)
March 16th, 2017 - 07:00 GMT

Saudi Deputy Crown Prince, Trump discuss $200B joint investment program

Saudi banks are more profitable than most of their GCC peers. (File photo)
March 16th, 2017 - 06:00 GMT

Banking sector in Saudi Arabia strongest in GCC

The UAE will join the club of nearly 150 nations by implementing a 5 percent VAT in the country from January 1, 2018. (File photo)
March 16th, 2017 - 05:00 GMT

Will electricity, phone bills in UAE also be taxed under VAT?

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