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UBER CAREEM INVESTMENT
Ride-hailer Careem to suspend decade-old Pakistan serviceCareem will suspend its ride-hailing service in Pakistan on July 18, citing economic strain, rising competition, and limited capital. The m...- Uber's Middle East subsidiary Careem offloads 50.3% stake in super app to Emirates TelecomThe super app will be managed by Careem founders Mudassir Sheikha and Magnus Olsson, said the company, formerly known as Etisalat Group and...
- Uber in talks with Mideast unit Careem over outside investmentCareem's ownership structure following the planned investment was not immediately clear, though sources said Uber would remain a shareholde...
- Abu Dhabi's tech hub sees surge of interest from start-upsHub71, backed by Abu Dhabi state fund Mubadala Investment Co, the SoftBank Vision Fund, and Microsoft, has accepted 100 start-up firms sinc...
- Amazon rival Noon to draw $2 billion from PIF, other backersThe investments from the Public Investment Fund and others will be used to upgrade infrastructure and help speed up deliveries, Noon founde...
- Uber cuts 3,000 jobs as virus slashes payroll by 25%The ride-hailing giant will be closing or consolidating 45 offices globally, and almost all departments will be affected by layoffs. The co...
- Uber’s CEO, a seasoned dealmaker, pursues his biggest one yetIn the negotiations, Grubhub had been seeking a ratio of 2.15 Uber shares for each one of Grubhub’s, a person familiar with the talks said....
- Uber loses $2.9 billion, offloads bike and scooter businessEarlier this week, Uber said it was cutting 3,700 full-time workers, or about 14 per cent of its workforce, as people avoiding contagion ei...
- Uber, posting first-ever decline in rides, says worst is overDuring the past week, Uber has embarked on a blitz of cost-trimming moves. Uber said it will end food delivery operations in more than a ha...
- Dubai Technology Entrepreneur Campus – A Leading Hub for Start-ups and InnovationsStart-ups from around 70 countries have took advantage at the state-of-the-art Dubai Technology Entrepreneur Campus Dtec , a start-up hub i...
- Uber is said to seal $3.1 billion deal to buy Careem in daysCareem was valued at about $1 billion in a 2016 funding round, making it one of the most valuable technology startups in the Middle East.
- Here are the big winners hitching a ride on Lyft's IPO planLyft’s filing revealed some startling numbers for the startup. The company lost $991 million last year even as its revenues surged.
- Uber is said to hold advanced talks to buy Mideast’s CareemCareem was valued at about $1 billion in a 2016 funding round, making it one of the most valuable technology startups in the Middle East.
- The strange story of Uber’s massive fund raising deal from the Saudi governmentThe $3.5 bn deal is now drawing Uber into a global reckoning over the business world's ties with Saudi.
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