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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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Headquarters of the IDB in Jeddah, Saudi Arabia.  (File photo)
March 5th, 2017 - 09:00 GMT

Islamic Development Bank charts three-year plan for Arab-African trade

The ICM is a leading global credit investment platform, managing funds which invest primarily in senior secured corporate debt issued by mid and large-cap corporates in Western Europe and the US. (File photo)
March 5th, 2017 - 08:00 GMT

Investcorp's acquisition of 3i Group debt management subsidiary brings assets to $21.4B

RHIA can currently accommodate 5 million passengers while the number of passengers surpassed 9 million, according to Public Works and Transport Minister Youssef Fenianos. (Wikimedia Commons)
March 5th, 2017 - 07:00 GMT

Lebanon signs agreement with MEA for feasibility study of international airport expansion

The railway industry now stands on the brink of great change with increasing innovation and disruption in transport sector.  (Shutterstock)
March 5th, 2017 - 06:09 GMT

Middle East Rail 2017 promotes WEF's Vision for Arab Employment Initiative

The Cabinet endorsed a new process for issuing visas for Sudanese and Yemeni nationals to enter the Kingdom, in a bid to promote the medical tourism sector. (Fotolia)
March 5th, 2017 - 05:18 GMT

'Amman Declaration' to boost medical tourism investment in Jordan

In its second phase of recovery, Arabtec said it plans to secure new projects, recycle capital, and ensure on-time and on-budget delivery of projects. (File photo)
March 2nd, 2017 - 01:00 GMT

Arabtec targets 2019 recovery with three-year recapitalization plan

Insurance penetration (the ratio of insurance premiums to GDP) is below 2 per cent in all but two of the six GCC countries. (Shutterstock)
March 2nd, 2017 - 12:00 GMT

Low oil prices a headwind for GCC insurance market: Moody's

Bahrain Clear Company will provide services in the areas of settlement, depository of securities, custodians, and other services. (Bahrain Bourse)
March 2nd, 2017 - 11:00 GMT

Bahrain Bourse to launch auxiliary services company

Lebanese exports have declined due to high production costs in the country.  (Shutterstock/ Robert Kneschke)
March 2nd, 2017 - 10:00 GMT

Lebanon's minister sounds warning over 'total collapse' of industrial and trading sectors

Rosneft is going through privatization, but remains partially owned by the Russian government. (Rosneft)
March 2nd, 2017 - 09:00 GMT

Russia's Rosneft calls for Libyan autonomy after striking oil deal

Some MPs made it clear that they will not pass the VAT law which is expected to come into force across the GCC in 2018. (Wikimedia Commons)
March 2nd, 2017 - 08:00 GMT

Is Kuwait standing in the way of its own economic progress?

BofA Merrill Lynch expect the fiscal deficit to narrow this year on higher oil prices, but hover around 2015 levels. (File Photo)
March 2nd, 2017 - 06:00 GMT

Oman deficit will require external financing: BoA Merrill Lynch

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