DUBAI: Amazon Web Services, the cloud computing arm of the Internet giant, said it will build data centers in the UAE in the first half of 2022 as it adds to its Middle East footprint.
The AWS Middle East (UAE) region will include three so-called Availability Zones, which consist of infrastructure in geographic locations that are far enough apart that they should not be impacted by a single event, while being close enough that they reduce latency for local customers, the company said in a statement.
AWS has 80 availability zones across 25 geographic locations globally, including the Middle East’s first in Bahrain. It plans to open 18 more availability zones across six geographies, including Australia, India, Indonesia, Spain, Switzerland and the UAE.
Each Availability Zone has independent power, cooling, and physical security, AWS said.
Companies already using AWS in the Middle East include Al Tayer Group, Aramex, AXA Gulf, Axiom Telecom, Emirates NBD, Flydubai, Gulf News, MBC Group, OSN, Seera Group, and Virgin Middle East.
Samaco Automotive Company, the premium car dealer for Audi, Bentley, Bugatti, Lamborghini, Porsche and Volkswagen, said this week it had become the first automotive dealer in the Kingdom to launch a customer service feature on the AWS and ThingLogix Solutions platforms.
However, AWS has competition in the form of regional industry upstarts such as Wasabi, which received a $25 million investment last week from Prosperity7 Ventures, a venture capital unit of Saudi Aramco.
Amazon cloud business to build data centers in UAE
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Amazon cloud business to build data centers in UAE
- AWS has 80 availability zones across 25 geographic locations globally, including the Middle East’s first in Bahrain
Kuwait to boost Islamic finance with sukuk regulation
- The move supports sustainable financing and is part of Kuwait’s efforts to diversify its oil-dependent economy
RIYADH: Kuwait is planning to introduce legislation to regulate the issuance of sukuk, or Islamic bonds, both domestically and internationally, as part of efforts to support more sustainable financing for the oil-rich Gulf nation, Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah said on Wednesday.
Speaking at the World Governments Summit in Dubai, Al-Sabah highlighted that Kuwait is exploring a variety of debt instruments to diversify its economy. The country has been implementing fiscal reforms aimed at stimulating growth and controlling its budget deficit amid persistently low oil prices. Hydrocarbons continue to dominate Kuwait’s revenue stream, accounting for nearly 90 percent of government income in 2024.
The Gulf Cooperation Council’s debt capital market is projected to exceed $1.25 trillion by 2026, driven by project funding and government initiatives, representing a 13.6 percent expansion, according to Fitch Ratings.
The region is expected to remain one of the largest sources of US dollar-denominated debt and sukuk issuance among emerging markets. Fitch also noted that cross-sector economic diversification, refinancing needs, and deficit funding are key factors behind this growth.
“We are about to approve the first legislation regulating issuance of government sukuk locally and internationally, in accordance with Islamic laws,” Al-Sabah said.
“This enables us to deal with financial challenges flexibly and responsibly, and to plan for medium and long-term finances.”
Kuwait returned to global debt markets last year with strong results, raising $11.25 billion through a three-part bond sale — the country’s first US dollar issuance since 2017 — drawing substantial investor demand. In March, a new public debt law raised the borrowing ceiling to 30 billion dinars ($98 billion) from 10 billion dinars, enabling longer-term borrowing.
The Gulf’s debt capital markets, which totaled $1.1 trillion at the end of the third quarter of 2025, have evolved from primarily sovereign funding tools into increasingly sophisticated instruments serving governments, banks, and corporates alike. As diversification efforts accelerate and refinancing cycles intensify, regional issuers have become regular participants in global debt markets, reinforcing the GCC’s role in emerging-market capital flows.
In 2025, GCC countries accounted for 35 percent of all emerging-market US dollar debt issuance, excluding China, with growth in US dollar sukuk issuance notably outpacing conventional bonds. The region’s total outstanding debt capital markets grew more than 14 percent year on year, reaching $1.1 trillion.
