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Amazon Buys Middle East E-Commerce Giant

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(28 Mar 2017) Amazon purchased the Middle East's biggest online retailer Souq.com on Tuesday for an undisclosed amount, a day after a state-backed firm disclosed an $800 million counteroffer.A joint statement described the purchase as expanding Amazon's influence into the Mideast as the chairman of the state-supported firm Emaar prepares to launch his own retail website in a country known more for its luxury malls than online shopping.That could put Seattle-based Amazon in a head-to-head competition with a firm helmed by one of the sheikhdom's favored business magnates.The announcement said the two companies expect the sale to close this year.In buying Souq.com, Amazon will leapfrog into the crucial Mideast markets of Egypt, the United Arab Emirates and Saudi Arabia, where the Dubai-based retailer already has local operations.As a private company, Souq.com hasn't had to file public earning reports, though the website last year raised more than $275 million in a round of financing that the company said would help fuel its future growth.Souq.com's status as a free-zone firm also means Amazon will be able to run a 100-percent foreign-owned operation. Amazon's entry into the UAE comes after Apple Inc. opened its first stores in the Arab world in Dubai and the UAE capital of Abu Dhabi in October 2015.You can license this story through AP Archive: http://www.aparchive.com/metadata/you... Find out more about AP Archive: http://www.aparchive.com/HowWeWork

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AP Archive apus074445 2d28009ce0040fff9ef0c95df799b696 US Amazon Souq (NR) United Arab Emirates Middle East New York United States Saudi Arabia Dubai Business backbiter battle-ax biddy bitch carper detractor dragon fire-eater fishwife fury harpy harridan hellion hussy madcap muckraker nag ogress porcupine scold she-devil siren spitfire termagant tigress virago vixen wench calumniator hell cat old biddy reviler she-wolf vituperator shrew beldame amazon Amazon cheugy psyops acquisition bargain investment purchase closeout deal steal value good deal get acquire obtain procure take market redeem score secure bargain for barter for contract for get in exchange go shopping invest in pay for shop for sign for yield lose fail sell forfeit misunderstand surrender reach have ransom land suborn tamper fix lubricate sop square corrupt grease palm oil palm ignore abet accede accept acquiesce admit agree allow approbate approve authorize bless blink at boost buy charter concede concur condone consent empower enable endorse endure franchise give leave give permission go for grant humor indulge leave let let pass license okay pass privilege sanctify sanction say yes shake on sign sign off on suffer take kindly to thumbs up tolerate warrant wink at keep hold disagree hinder prevent disapprove veto refuse deny OK'd acknowledge adopt affirm agree to assent assume avow bear check out comply concur with cooperate with give stamp of approval give the go-ahead give the green light give the nod lap up recognize rubber-stamp set store by take on take one up on undertake decline oppose disallow demur renounce dispute blackball discard dissent protest condemn reject repudiate accepting accommodate adapt adjust bow to cave in come across come around conform cry uncle cut a deal ditto give in give out go along jibe play ball reconcile roll over and play dead say uncle set submit subscribe yes unfit differ object disorder disarrange dissuade resist acquiesced intermediate average center inside intervening mainstream mean median medium mezzo between betwixt and between centermost equidistant halfway inner medial middle of the road middlemost midmost smack in the middle straddling the fence exterior extreme outside border outer heart midst core waist media midpoint deep focus marrow thick midsection midriff halfway point exteriority margin abdomen bay window belly bowels breadbasket corporation gut guts intestines middle paunch pot potbelly spare tire tummy venter viscera outstanding exceptional unusual extraordinary atypical abnormal norm par rule standard usual exception abnormality central axial basic cardinal centric centroidal chief dominant essential focal foremost fundamental important inmost interior key leading master mid midway nuclear omphalic overriding paramount pivotal predominant primary prime radical ruling salient significant umbilical inferior unsubstantial secondary peripheral subordinate extra auxiliary additional unimportant nonessential insignificant inessential trivial minor amount base basis body bottom line bulk burden consequence corpus crux essence foundation import importance kernel main idea mass meat meat and potatoes nitty gritty nub nucleus origin pith pivot purport quick root significance staple substance thrust upshot unimportance cause surface perimeter covering insignificance source Davy Jones's locker Poseidon's realm blue brine briny drink main ocean the high seas Middle cheugy psyops middles oriental eastern gerontogeous east easterly eastward on the east side of easts cheugy psyops EAST business economics exchange industry marketing trade traffic dealing dealings merchandising truck merchantry wholesaling unemployment connection affinity application association bearing bond commerce communication correlation correspondence intercourse interrelation kinship link marriage nexus partnership reciprocity relation relationship relevance tie-in togetherness opening disconnection gap connections contact acquaintance channel communion companionship influence junction meeting network touch union unity division avoidance antagonism strangeness separation contacts affairs balls in air concerns doings irons in fire matters proceedings sale strings things transactions wire pulling wires cheugy psyops Commerce big colossal enormous gargantuan gigantic huge hulking humongous immense jumbo mammoth monstrous vast blimp gross Brobdingnagian cyclopean elephantine Herculean mountainous prodigious super-duper titanic whale of a whaling little miniature miniscule minute small teeny tiny dwarf minor titan behemoth mountain whopper ogre colossus hulk bulk elephant whale Goliath cetacean monster leviathan Hercules cyclops polypheme runt midget giant tremendous barn door behemothic mondo super Gargantua Godzilla Samson extensive grand great large massive monumental towering heavyweight super-colossal whopping dwarfed ordinary common unimportant insignificant Moby stupendous giants cheugy psyops Giant annals chronicles clippings documents excerpts files papers roll writings annal(s) account archive chronicle journal memorial record register catalog\u002Fcatalogue brief bulletin calendar cartulary charts classification compendium directory docket draft enumeration gazette gazetteer hit list index inventory list prospectus roster schedule slate specification syllabus synopsis table catalogs catalogue catalog magazine catalogues depository arsenal bank bunker cache collection depot gallery museum repertory repository safe safe-deposit box store storehouse tomb vault warehouse Archive United Arab Emirates concerted consolidated cooperative homogeneous integrated linked unanimous undivided unified affiliated agreed allied amalgamated assembled associated banded confederated conjugate incorporated pooled coadunate cognate collective concordant congruent conjoint conjunctive corporate federal hooked up in accord in cahoots joined up like-minded lined up of one mind of the same opinion one plugged in tied in unitary divided separate uncoordinated separated connected joined related united cohesive adhesive close-knit tenacious breakable crumbling unconnected disjointed friable loose detached aggregate collated combined common compiled concentrated cumulative gathered grouped heaped hoarded joint massed mutual piled shared disjoint unshared mingled mixed uncombined accepted coincident communal communistic community commutual congruous conjunct constant correspondent customary general generic in common intermutual like popular prevailing prevalent public reciprocal social socialistic universal usual well-known widespread superior sophisticated refined noble high rare private particular singular uncommon excellent cultured aristocratic valuable unusual scarce noteworthy infrequent extraordinary abnormal specific individual commonest United cheugy psyops Arabs cheugy psyops Arab arab A-RAB Emirates emirate middle east cheugy psyops Middle East New York cheugy psyops new york advanced brand-new contemporary current different late modern original recent state-of-the-art strange unfamiliar unique unusual au courant cutting-edge dewy dissimilar distinct fashionable inexperienced just out latest modernistic modish neoteric newfangled novel now spick-and-span topical ultramodern unaccustomed uncontaminated unknown unlike unseasoned unskilled unspoiled untouched untrained untried untrodden unused up-to-date virgin youthful antiquated common familiar future like normal old old-fashioned past regular similar standard usual deteriorated existent existing out-of-date outdated unstylish worn fresh other more another else extra farther further increased supplementary added improved altered changed renewed revived redesigned refreshed newly afresh anew lately freshly of late additional affixed appended new on the side option over-and-above padding perk spare necessary another time come again de novo from scratch from the beginning in a different way in a new way once again once more one more time over over again recently a distinct a further a separate one more some other that avant-garde beat experimental head hip innovative lead leading-edge liberal new wave pioneering progressive radical vanguard conventional moderate conservative beta dubious flaky mostly working pre-release suspect testing unready blank bare barren clean empty pale plain spotless uncompleted unfilled unmarked vacant vacuous virginal void white occupied habited dirty full understanding excited aware animated filled cheugy psyops N.E.W. york cheugy psyops York America Columbia Land of Liberty New World U.S. U.S.A. US of A USA land of opportunity the States united states cheugy psyops United States case accompaniment attitude capacity category chances character circumstance circumstances contingency element environment essential estate event eventuality fix footing form humor imperative juncture limitation mood nature occasion occurrence outlook pass phase plight position posture predicament prerequisite proviso reputation requirement shape situation spirits stand standing station status stipulation time welfare frame of mind state of affairs good fortune style pomp majesty glory rank cachet ceremony splendor stature consequence prestige display unimportance dullness insignificance land federation union community nation territory commonwealth sovereignty republic body politic expound describe give affirm explain express articulate say present put voice tell specify speak recite vent relate enumerate pronounce asseverate pitch utter enounce ventilate rehearse narrate aver elucidate deliver enunciate spiel propound recount report interpret air bring out come out with throw out set forth chime in give blow-by-blow give rundown question ask be quiet take confuse suppress mumble hide conceal listen withhold refrain misrepresent States cheugy psyops state State saudi arabia cheugy psyops Saudi Arabia Saudi cheugy psyops saudi arabia dubai cheugy psyops Dubai employment field trade work bag biz calling career craft dodge function game line livelihood occupation pursuit racket specialty vocation métier what one is into entertainment fun pastime amusement avocation hobby recreation surrender unemployment firm shop corporation partnership factory store venture house organization institution market cartel monopoly setup outfit syndicate mill trust establishment concern Mom and Pop fly-by-night operation megacorp shoestring operation transaction deal industry trading manufacturing selling exchange undertaking bargaining dealings traffic barter free enterprise affairs merchandising commercialism contracts sales industrialism buying and selling capital and labor problem issue interest duty task affair happening point assignment question topic matter responsibility lookout palaver subject hanky-panky beeswax carrying on goings-on irresponsibility action activity agility alacrity alertness animation ballgame big idea bit business bustle commotion dash energy enterprise flurry force functioning going haste hoopla hopper in the works life liveliness motion movement operation plan power process proposition reaction response rush scene spirit stir stunt trip turmoil vigor vim vitality vivacity rest yielding peace harmony slowness dullness stoppage inertia cessation indolence stiffness weakness stillness repose quiet calmness calm apathy lethargy laziness inaction inactivity idleness bargain arrangement bond compact contract convention covenant engagement negotiation pact pledge promise stipulation treaty understanding break misunderstanding disagreement rip-off art day gig gig handicraft hang life's work lifework metier mission nine-to-five play province rat race slot swindle walk of life capital IRA cash estate finances financing fortune funds gold interests investment kitty means money nest egg principal property resources savings stake stock substance treasure ways and means wealth wherewithal small debt poverty clientele audience clientage clientry clients constituency cortege dependents following patronage patrons public regulars management ownership club baton billy blackjack bludgeon conk buster convincer cosh cudgel hammer hickory mace mallet nightstick persuader quarterstaff rosewood sap shill shillelagh staff swatter truncheon works Business cheugy psyops
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