EghtesadOnline: Emaar Malls PJSC, the shopping-center unit of Dubai’s biggest publicly traded property developer, made a bid for online retailer Souq.com , seeking to challenge an existing offer from Amazon.com Inc., according to people familiar with the matter.

EghtesadOnline: Dubai-based online retailer Souq.com , known as the Amazon of the Middle East, is planning to sell a stake of about 30 percent that would give the company a value of at least $1.2 billion, people with knowledge of the matter said.

EghtesadOnline: Amazon.com Inc. has agreed to buy Dubai-based online retailer Souq.com , betting that e-commerce in the Middle East is poised to take off.