It’s unclear whether Amazon plans to re-brand SOUQ.com as Amazon.ae, or shut it down altogether.
Amazon Air currently leases 20 air freighters from ATSG and 20 from Atlas Air, with the additional 10 from ATSG to be operational in the next two years.
Gulf Islamic Investments announces acquisition of centres in Dortmund, Germany.
Undaunted by growing rivalry in the e-commerce space, online retailer Wadi.com is pursuing a Saudi-centric strategy that it hopes will set it apart from the competition.
SOUQ.com has acquired Wing.ae, a startup that is building out a network for Prime-style same-day and next-day deliveries for various e-commerce marketplaces.
Noon, the Middle East’s soon to be launched e-commerce platform, founded by Mohamed Alabbar, has announced the appointment of Faraz Khalid as its Chief Executive Officer.
The acquisition of SOUQ.com by Amazon was completed this week, while work to fully integrate the two companies is progressing well, says SOUQ co-founder and chief executive Ronaldo Mouchawar.
In a statement this week Dubai businessman Mohamed Alabbar said his new US $1-billion e-commerce site Noon.com is “on track” to begin operations in 2017 and will shift its primary logistics hub from Dubai to Riyadh.
Amazon is understood to have started a search for its first office in Dubai, as well as logistics space to run its expanding Middle East operations.
The recently confirmed takeover of Souq.com by Amazon will create huge opportunities for express couriers in the Middle East, says DHL Express country manager for the UAE Geoff Walsh.
Emaar Malls has bid up to US $800 million to take over e-commerce giant Souq.com, sources familiar to the offer have have confirmed days after Amazon made similar offer.
Amazon.com Inc has agreed in principle to buy UAE-based online retailer Souq.com, one of the best-known names in the Middle East's online shopping market, for half a billion dollars, according to reports by Reuters.
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