Dubai strikes partnership with Uber rival Careem | Financial Times:
Dubai is to launch a company with Careem, the regional rival to Uber, to manage the ride-hailing system for all taxis operating in the Gulf’s commercial hub.
The emirate’s transport authority said on Sunday it would be the world’s first partnership between a government regulator and a private ride-hailing app. Dubai, like other regulatory authorities, has clashed with fast-growing ride-hailing companies challenging the dominance of traditional taxi services.
Dubai-based Careem, valued by bankers at about $2bn in its last fundraising round, said it would have a 49 per cent stake in the joint venture, which would manage e-hailing systems and online payments for almost 11,000 taxis.
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