Careem

  • driver Mar 29, 2019

    Investors Hail Lyft Shares in IPO, See Profits Down the Road

    Lyft’s shares soared as the company went public Friday, giving investors their first chance to bet on the future of the ride-hailing industry. The stock opened at $87.24, up 21 percent from its offering price of $72. It closed at $78.29, up 8.7 percent, giving the company a $27 billion valuation.

  • Middle East Mar 26, 2019

    Uber Acquires Mideast Competitor Careem for $3.1 Billion

    Ride-hailing service Uber announced on Tuesday it has acquired its Mideast competitor Careem for $3.1 billion, making it the largest-ever technology purchase in the region. Uber said in a prepared statement that the $3.1 billion purchase consists of $1.7 billion in convertible notes and $1.4 billion in cash. Under the deal, Careem will keep its brand as a wholly-owned subsidiary...

  • DUBAI Jun 24, 2018

    As Driving Ban Lifted, Saudi Women in Crosshairs of Change

    Outside a sprawling mall in the Saudi capital, Riyadh, young single men and women walk through an open-air exhibit where Saudi women and traffic police explain the ins and outs of handling a car. Children take a lap around a makeshift course in tiny electric cars as clowns appear on a small stage, dancing for the crowd. A song with...

  • DUBAI Jun 5, 2018

    First Saudi Women Receive Driving Licenses, But Some Advocates Are Jailed

    Saudi Arabia issued its first driver’s licenses to 10 women on Monday as the kingdom prepared to lift the world’s only ban on women driving in three weeks, but some who campaigned for the right to drive remain under arrest. A government statement said the 10 women who were issued licenses already held driving licenses from other countries, including the...

  • Donald Trump Nov 5, 2017

    Billionaire Prince Among Dozens Arrested in Saudi Sweep

    Saudi Arabia’s heir to the throne is overseeing an unprecedented wave of arrests of dozens of the country’s most powerful princes, military officers, influential businessmen and government ministers — some potential rivals or critics of the crown prince now consolidating his power. Among those taken into custody overnight Saturday in the purported anti-corruption sweep were billionaire Prince Alwaleed bin Talal,...

  • Donald Trump Nov 5, 2017

    In Hot Water: Baldwin’s Trump Takes Jabs at Manafort, Weinstein in ‘SNL’ Cold Open

    Days after the first Russia probe indictments, “Saturday Night Live” continued to show the Trump administration in hot water—this week’s the cold open ended with President Donald Trump and his team in the shower.

  • DUBAI Sep 26, 2017

    Saudi Arabia to Allow Women to Drive for the First Time

    Saudi Arabia on Tuesday announced that women will be allowed to drive for the first time in the ultra-conservative kingdom next summer, fulfilling a key demand of women’s rights activists who faced detention for defying the ban. The kingdom was the only country in the world to bar women from driving and for years had garnered negative publicity internationally for...

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