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Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Careem looks to raise $500m to fund expansion

e& announces agreement with Uber Technologies, and its subsidiary Careem to acquire a majority stake in Careem’s Super App.
By TRENDS Desk
March 10, 2022 6:47 pm
  • The firm owned by Uber will use the money to bankroll an expansion into services different from ride-hailing
  • It has already held talks with Saudi Arabia’s Public Investment Fund and Abu Dhabi’s ADQ to raise the funds

Careem, the vehicle-for-hire firm, has set its sights on raising some $500 million from investors, including regional sovereign wealth funds like Saudi Arabia’s Public Investment Fund and Abu Dhabi’s ADQ.

The firm owned by Uber will use the money to bankroll an expansion into services different from ride-hailing.

It has already held talks with Saudi Arabia’s Public Investment Fund and Abu Dhabi’s ADQ to raise the funds. The report also noted that Bank of America Corp. is advising on the transaction.

As the talks are currently at an early stage, the final amount might still change and more funds might join.

Uber bought Careem in 2019 for $3.1 billion. Even though Uber has full ownership, both these companies are operating relatively independently.

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