Alibaba (NYSE:BABA) Launches Data Center in Dubai
Alibaba Cloud, a cloud computing arm of China’s Alibaba Group (NYSE:BABA), said this week that it launched a data center in Dubai.
Operated by YVOLV, a J-V between Alibaba Cloud and United Arab Emirates (UAE) company Meraas Holdings, the data center will be the 1st “full-fledged public cloud” in the Middle East, said Alibaba Cloud and Meraas in a joint press conference.
It will serve the “increasing demand” for mission-critical, affordable and secure cloud computing in the region, they said.
Simon Hu, President of Alibaba Cloud, said that with the data center, global cloud network will be able to meet demands from enterprises which are going global.
Fahed Al-Hajeri, CEO of YVOLV, confirmed that the cloud provider’s achievements in its home market China “can be replicated in the region.”
The project, he added, is in line with the Smart City initiative and the Gulf state’s strategic master plan “UAE Vision 2021.” The latter aims to transform the UAE, a major Crude Oil supplier, to the world’s most competitive country.
Dubai, as 1 of 7 sheikhdoms forming the UAE, is considered its business and trade hub.
IT spending in the Middle East is expected to reach US$212.9-B which would represent a 3.7% Y-Y increase, Gartner, a US IT research and consultancy firm said.
|NYSE:BABA||93.03||23 November 2016||-0.18||92.53||93.4||91.45||11,736,463|
|HeffX-LTN Analysis for BABA:||Overall||Short||Intermediate||Long|
|Bearish (-0.36)||Bearish (-0.47)||Bearish (-0.38)||Neutral (-0.24)|
Have a Happy Thanksgiving
Latest posts by Paul Ebeling (see all)
- The 5 Safest Cities in the World - October 13, 2019
- Box Office: ‘Joker’ Laughs with another $55-M in North America - October 13, 2019
- US Q-3 Earnings, Here They Come - October 13, 2019