South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Amazon signed a deal with Abu Dhabi Investment Office (ADIO) to build a fulfillment center in the country by 2024. The Abu Dhabi government's media office shared the past weekend. The facility will be built in compliance with the e-commerce giant's carbon reduction blueprint.
As per Reuters, Amazon's new project will offer thousands of new jobs to the locals of Abu Dhabi. On top of this, the fulfillment hub is also expected to boost the logistics and retail sector's growth in the Middle East and North Africa or MENA. It was mentioned that the facility will also help UAE in achieving its net-zero emissions by the year 2050.
The Amazon fulfillment center will feature advanced technology and will be launched as part of the ADIO's program to attract more investment that revs up innovation. The partnership will also improve the logistics sector, support entrepreneurship, create jobs, and help develop the retail ecosystem further.
Gulf News reported that Amazon's new fulfillment center in Abu Dhabi is expected to be completed and finally open in 2024. Also, the project turned out to be one of the expanded collaborations between the country's investment office and Amazon to support business owners, startups, and small to medium-sized businesses.
"Driven by customer-obsession, innovation, and long-term thinking, we are very proud to be working alongside the UAE leadership as we contribute to the nation's accelerating digital economy and ambitious growth agenda," Amazon's senior vice president, international consumer, Russell Grandinetti, stated via Abu Dhabi Government Media Office's press release. "We look forward to partnering with the Abu Dhabi Investment Office to bring Amazon's advanced logistics, technology innovations, sustainability initiatives, and decades of expertise to the area."
The vice president of Amazon MENA, Ronaldo Mouchawar, further said that the company is committed to working together with community partners to promote and enrich long-term innovation. He added that the expansion of its partnership with ADIOS would allow Amazon to increase its delivery capabilities and speed, plus help sellers who offer a wide selection of products to Amazon customers.
Finally, the upcoming Amazon fulfillment hub will enable SMBs to reach more customers and ultimately grow their businesses.
