Dubai Souq Amazon – — Amazon announced the acquisition of Mideast online retailer for an undisclosed amount, beating out Dubai mall operator Emaar Malls. Terms were not disclosed but some news reports have put the price at $650 million or more

‘Dubai’s Crown Prince Sheikh Hamdan bin Mohammed bin Rashid al-Maktoum said Amazon’s entry into the region showed “Dubai’s position as a regional and global hub for the world’s biggest and leading organizations.”

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