Amazon invests $5 billion in a plan to set up data centers in the UAE.
In a plan announced by Amazon Web Services,
which specializes in computing services,
to establish a dedicated data center area in the United Arab Emirates,
investments amounted to 5 billion dollars.
topic
U.S. stocks fall as higher interest rate last longer.
amazon
Where the United Arab Emirates is the second region in the Middle East after the State of Bahrain,
and Amazon has stated to provide greater options in order
to increase the ability to operate applications and
serve end users from data centers located in the UAE,
and this development is based on some new and
advanced technologies of “Amazon Web Services for Innovation Development” technology.
This will be made available to developers, startups, businessmen,
government and educational institutions, and non-profit organizations.
According to a statement issued on Tuesday by the company regarding
the expected volume of spending for the establishment and operation of the new zone,
this will provide approximately 6,000 full-time jobs annually for external sellers.
The UAE is benefiting from the new region that Amazon
will launch as the “AWS Middle East (UAE) Region”,
by about $ 11 billion over the next 15 years to its GDP.
Amazon Web Services is working to establish “service-providing” areas that help create
infrastructure in separate and distinct geographical locations.
The company’s project includes three regions in the UAE,
thus joining the area established in Bahrain, which was opened in July 2019.
Also, the company’s areas are still far apart to provide and
cover the largest possible space for customers,
but at the same time,
they are designed close in a certain range in order to provide low latency
for data that depends on the use of multiple service areas.
Data centers are an attraction for many large companies,
where two deals totaling $18.8 billion were held for the acquisition
of two major data centers last year.
U.S. stocks fall as higher interest rate last longer.
Shares fell as U.S. Treasury yields rose again on Monday on interest rates expected
to stay higher longer requiring asset requotes.
The Nasdaq 100 and S&P 500 fell for the second day in a row,
continuing the collapse caused by Jerome’s first remarks last Friday
about the Fed’s desire to let the economy suffer while fighting inflation at the same time.
Treasury yields rose to a 10-year rate of return near 3.11%,
with the two-year yield rising to its highest level since 2007,
with point gains due to supply risk.
Jerome Powell’s speech at the Jackson Hole seminar stressed that
expectations with any reflection of the Fed’s tightening next year are unlikely,
if inflation does not return to the central bank’s long-term target.
The reading of consumer prices in the United States showed an inflation rate above 8%,
and also warned of any economic suffering for families and companies,
while the Central Bank continues its activity on curbing inflation.
On corporate dividends,
experts at Morgan Stanley said in a research note on Monday
that weak profits rather than higher interest rates
could pose the biggest threat to U.S. stock prices.
The bank’s earnings model was confirming this view,
which is expected to cause a sharp decline in dividend growth over the next few months.
They added that determining the path for stocks will be through profits,
as they still see the downside as a result,
and therefore stock investors should take these risks and not the Federal Reserve.
artical name Amazon invests $5 billion in a plan