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Uber posts first annual net profit
The company reported $37.3 billion in sales in 2023.
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Uber, Kia sign EV partnership
It is aimed at "enhancing electric vehicle offerings". -
After five years of driving, roadblocks remain for Saudi women
Women drivers in Saudi Arabia is just one example, Jawhara al-Wabili says, of how women's rights have blossomed in recent years, allowing them to become ambassadors, bank directors, university administrators and even astronauts. Saudi scientist Rayyanah Barnawi took part in a mission to the International Space Station just this past... -
Human extinction threat ‘overblown’ says AI sage Marcus
In March, alarmed that ChatGPT creator OpenAI was releasing its latest and more powerful AI model with Microsoft, Marcus signed an open letter with more than 1,000 people including Elon Musk calling for a global pause in AI development. But last week he did not sign the more succinct statement... -
Careem to end Qatar operations
The company did not offer any explanation for the decision. -
Uber posts Q2 loss of $2.6bn
Uber revenue more than doubled to $8.1 billion in Q2. Uber reported better-than-expected revenue in Q2, fueled by strong demand for the San Francisco-based firm's ride-hailing and food delivery services. -
Uber docs reveal bare-knuckle expansion tactics: report
A leaked cache of confidential files from ride-sharing company Uber illustrates ethically dubious and potentially illegal tactics it used to fuel its frenetic global expansion beginning nearly a decade ago, a joint media investigation showed Sunday. Dubbed the "Uber Files," the investigation involving dozens of news organizations found that company... -
Tech titans curb hiring in a ‘challenging macro environment’
From e-commerce colossus Amazon to social networking star Facebook, US tech firms that once grew with abandon have reined in hiring to endure tumultuous times. Internet giants that saw business boom during the pandemic have taken a hit from inflation, war, supply-line trouble and people returning to pre-Covid lifestyles. Corporate... -
‘Bleed us dry’: Why tech platforms are facing rebellions
Tech platforms create walled gardens where buyers and sellers are protected from cybercriminals and fraudsters, and standards of quality are guaranteed. -
Saudi achieves 30 percent female labor force target 10 years early
Saudi Arabia has achieved its target of getting 30 percent female labor force participation nearly 10 years ahead of schedule, a study said. The research, carried out by Roland Berger on behalf of Uber, shows that women made up 36 percent of workers in the Kingdom in 2021 — up... -
Uber reports $892 mn Q4 profit
The San Francisco-based company notched increases across its operations, including its signature ride service, food delivery and freight operations. -
Where does Saudi Arabia’s PIF invest most?
The kingdom's sovereign wealth fund is critical to its economic goals as it channels returns from foreign investments into non-oil sectors in a bid to diversify the economy. -
Careem faces flak over random price hike
People in the UAE complain about Uber and Careem's high prices, which have been raised significantly in the last few months due to Expo 2020 and Dubai attracting many tourists. -
Uber Reserve launches in Dubai
Allows riders to book rides up to 30 days in advance. -
Careem launches luxury car ride-hailing Bahrain-Saudi Arabia service
Bahrain residents can book the one-way luxury car ride to Saudi Arabian cities such as Dammam, Khobar, Dhahran, Jubail, Buqaiq, Hufof and Riyadh for $198 per ride. -
Uber appoints new GM for MENA, Pakistan region
Pall will lead the next phase of growth for Uber’s ride-sharing business across the region -
Careem to heat up food delivery business in Middle East
In a move aimed at further strengthening its market position by adding more verticals to its current portfolio, Careem on Sunday announced the taking over of UAE-based RoundMenu at an undisclosed amount. Following this acquisition, it is expected that Careem would start testing food delivery services through the restaurant listing...