LONDON: Online e-commerce giant Amazon.com Inc. is preparing to launch an ultra-fast grocery delivery service in the United Kingdom, trade magazine The Grocer reported on Friday, citing suppliers.
The service, Ultra Fast Fresh, involves retrofitting nine existing depots within the country to handle fresh produce and fulfill grocery orders within hours, the magazine reported.
The project could involve making Amazon Fresh, Amazon’s grocery delivery service, a free benefit of Prime in the UK instead of the monthly add-on fee or per-order charge it currently charges, the weekly magazine reported.
Amazon was not immediately available to comment.
The move comes as UK’s dominant online grocer, Ocado , has been struggling to open up grocery delivery slots for consumers due to unprecedented demand caused by COVID-19 related lockdowns.
Amazon’s new service is aimed at bringing rapid grocery delivery to almost 40% of UK households by the end of the year, the suppliers briefed on the program told The Grocer. Their products will be picked and packed at the refitted Amazon depots.
Ultrafast grocery delivery, a part of Amazon’s Fresh service, is currently available for free for Prime members in the United States.
In October, Seattle-based Amazon waived the additional $14.99 per month fee it charged for access to Amazon Fresh.
On Friday, Britain’s competition regulator cleared Amazon’s purchase of a stake in Deliveroo, in light of a potentially fatal deterioration in the online food delivery group’s finances as a result of the coronavirus pandemic.
Amazon prepping to launch super-fast grocery delivery service in UK
https://arab.news/mszax
Amazon prepping to launch super-fast grocery delivery service in UK
- The service, Ultra Fast Fresh, involves retrofitting nine existing depots within the country to handle fresh produce and fulfill grocery orders within hours
- The move comes as UK’s dominant online grocer, Ocado , has been struggling to open up grocery delivery slots for consumers
Saudi stock market opens its doors to foreign investors
RIYADH: Foreigners will be able to invest directly in Saudi Arabia’s stock market from Feb. 1, the Kingdom’s Capital Market Authority has announced.
The CMA’s board has approved a regulatory change which will mean the capital market, across all its segments, will be accessible to investors from around the world for direct participation.
According to a statement, the approved amendments aim to expand and diversify the base of those permitted to invest in the Main Market, thereby supporting investment inflows and enhancing market liquidity.
International investors' ownership in the capital market exceeded SR590 billion ($157.32 billion) by the end of the third quarter of 2025, while international investments in the main market reached approximately SR519 billion during the same period — an annual rise of 4 percent.
“The approved amendments eliminated the concept of the Qualified Foreign Investor in the Main Market, thereby allowing all categories of foreign investors to access the market without the need to meet qualification requirements,” said the CMA, adding: “It also eliminated the regulatory framework governing swap agreements, which were used as an option to enable non-resident foreign investors to obtain economic benefits only from listed securities, and the allowance of direct investment in shares listed on the Main Market.”
In July, the CMA approved measures to simplify the procedures for opening and operating investment accounts for certain categories of investors. These included natural foreign investors residing in one of the Gulf Cooperation Council countries, as well as those who had previously resided in the Kingdom or in any GCC country.
This step represented an interim phase leading up to the decision announced today, with the aim of increasing confidence among participants in the Main Market and supporting the local economy.
Saudi Arabia, which is more than halfway through an economic plan to reduce its dependence on oil, has been trying to attract foreign investors, including by establishing exchange-traded funds with Asian partners in Japan and Hong Kong.
