US e-commerce titan Amazon said it committed $1 billion to a new venture investment fund that aims to invest in companies developing technology to support various e-commerce business processes such as customer fulfillment, logistics, safety, supply chain and warehouse management.
Called the Amazon Industrial Innovation Fund, the new initiative will focus on companies of all stages — from early stage start-ups to established businesses.
These could include companies working in the areas of robotics, artificial intelligence, machine learning, autonomy and other emerging technologies, Amazon said.
“We see an opportunity to look beyond our own experience and empower companies that are developing emerging technologies,” Alex Encarnacion, Amazon’s vice president of worldwide corporate development, said.
“Whether our investment helps them grow or leads them to work with Amazon, or both, we are excited to help advance these technologies as online shopping becomes even more important to people who are looking for more convenience and time savings.”
The Covid-19 pandemic, which led to lockdowns around the world, hastened the move to digital services as consumers switched to cashless payments and online shopping. Globally, digital payments are expected to grow to $8.26 trillion by 2024, from $4.4tn in 2020, Statista said.
Global e-commerce market is expected to grow at a compound annual growth rate of 14.7 per cent from 2020 to 2027, from $9.09tn in 2019, according to Grand View Research, an India and the US based market research and consulting company.
Amazon said the investment size will vary based on the opportunity and the beneficiary company’s stage of growth.
The fund will invest in companies that imagine solutions that “incrementally increase delivery speed” and improve the experience of employees working in warehousing and logistics fields.
Its first round of investments is focused on wearable technology that could enhance safety in fulfillment buildings and robotics designed to complement and co-exist with people’s lives.
These industries are inherently complex, said Mr Encarnacion.
“With our scale, Amazon is committed to investing in companies that will ignite innovation in emerging technologies that can help improve employee experiences and safety while seamlessly coexisting with workforces across the supply chain, logistics, and other industries,” he added.
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Man of the match Kari Arnason (Iceland)
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Stuck in a job without a pay rise? Here's what to do
Chris Greaves, the managing director of Hays Gulf Region, says those without a pay rise for an extended period must start asking questions – both of themselves and their employer.
“First, are they happy with that or do they want more?” he says. “Job-seeking is a time-consuming, frustrating and long-winded affair so are they prepared to put themselves through that rigmarole? Before they consider that, they must ask their employer what is happening.”
Most employees bring up pay rise queries at their annual performance appraisal and find out what the company has in store for them from a career perspective.
Those with no formal appraisal system, Mr Greaves says, should ask HR or their line manager for an assessment.
“You want to find out how they value your contribution and where your job could go,” he says. “You’ve got to be brave enough to ask some questions and if you don’t like the answers then you have to develop a strategy or change jobs if you are prepared to go through the job-seeking process.”
For those that do reach the salary negotiation with their current employer, Mr Greaves says there is no point in asking for less than 5 per cent.
“However, this can only really have any chance of success if you can identify where you add value to the business (preferably you can put a monetary value on it), or you can point to a sustained contribution above the call of duty or to other achievements you think your employer will value.”
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
How to report a beggar
Abu Dhabi – Call 999 or 8002626 (Aman Service)
Dubai – Call 800243
Sharjah – Call 065632222
Ras Al Khaimah - Call 072053372
Ajman – Call 067401616
Umm Al Quwain – Call 999
Fujairah - Call 092051100 or 092224411
South and West: From a Notebook
Joan Didion
Fourth Estate
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
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