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Amazon Invests $11 Billion to Expand Cloud and Logistics in Germany

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
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Amazon Invests $11 Billion to Expand Cloud and Logistics in Germany

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)

Amazon will invest 10 billion euros ($10.75 billion) as demand for its cloud services and retail goods in Europe's biggest economy keeps growing, the US technology and retail company said on Wednesday.

The greater part of the sum, 8.8 billion euros, will be spent by 2026 to expand the cloud infrastructure of its computing unit Amazon Web Service (AWS), as it sees rising potential in Artificial Intelligence (AI)-driven technologies in Europe, Reuters reported.

German Chancellor Olaf Scholz praised the investment that would create more than 4,000 jobs this year by saying it underlines the country's attractiveness for investors.

Berlin is dealing with an economic downturn triggered by high energy costs and interest rates, as well as under-investment due in part to red tape.

The announcement brings the total amount of Amazon's planned investments in Germany to 17.8 billion euros.

AWS was considering multi-billion investments in the expansion of its data centres in Italy, Reuters reported in May.

 

 

 

 

 

 

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Saudi Arabia’s Monsha’at Partners with X to Support Digital Transformation

General Authority for Small and Medium Enterprises (Monsha’at) logo
General Authority for Small and Medium Enterprises (Monsha’at) logo
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Saudi Arabia’s Monsha’at Partners with X to Support Digital Transformation

General Authority for Small and Medium Enterprises (Monsha’at) logo
General Authority for Small and Medium Enterprises (Monsha’at) logo

Saudi Arabia’s General Authority for Small and Medium Enterprises (Monsha’at) collaborated with X Development company during the Biban 24 forum to provide specialized training programs and innovative digital transformation solutions.
Representatives from Monsha’at and X signed the agreement, underscoring their commitment to advancing the digital business environment and empowering Small and Medium Enterprises (SMEs) to achieve their objectives under Vision 2030.
Through this partnership, Monsha’at aims to equip entrepreneurs and SMEs with essential digital skills and knowledge to enhance their market competitiveness and adapt to rapid changes in the business landscape.
The agreement facilitates SME access to cutting-edge technology solutions, boosting their ability to stay competitive and preparing them to meet evolving business challenges. It also establishes an innovative entrepreneurial ecosystem that supports digital transformation and offers comprehensive training opportunities for entrepreneurs. These programs combine practical training with technical support, promoting sustainable growth for the SME sector.