Can Amazon Conquer the Middle East? - Counting the Cost

Internet giant Amazon has snapped up the largest online retailer in the Middle East, Souq.com. This will give Amazon access to customers in Egypt, the United Arab Emirates and Saudi Arabia. Dubai-based Souq.com was started 12 years ago by a Syrian businessman. At the time, Goldman Sachs called it "the biggest-ever technology M&A transaction in the Arab world."

But online retail shopping has yet to truly take off in the Middle East compared to other regions.