Alexander Cornwell
Stories by Alexander Cornwell
Two potential Jet Airways investors back out in setback for Indian carrier
The billionaire head of Vedanta, Anil Agarwal, and Etihad Airways, which owns a minority stake in Jet, have backed out of making a fresh investment in
Uber acquires Dubai-based rival Careem in $3.1b deal, ahead of much-awaited IPO
The acquisition makes Careem a wholly owned subsidiary of Uber and will keep the Careem brand and app intact, at least initially.
Japan’s Taisho close to acquiring Bristol-Myers OTC unit in $1.6b deal
U.S. pharma giant Bristol-Myers has sought to sell the unit amid a push to streamline its business globally.
Uber rival Careem launches delivery service, expects to close funding round soon
It plans to spend over $150 million developing the delivery business, starting with food, in Dubai and Jeddah.
Dubai listings site Property Finder snags $120m in General Atlantic-led round
The proceeds will also be used to expand the brand in its existing markets of Saudi Arabia, Egypt, Turkey, the UAE, Qatar, Bahrain, Lebanon and Morocc
Egyptian tech transport startup Swvl heads to Southeast Asia
Swvl is planning to launch services in Manila in the first quarter next year followed by other cities in the Philippines, Vietnam, and Thailand.
Uber’s Middle East rival Careem secures $200m fresh funding
The $200 million was the first close of a funding round in which it expects to raise over $500 million.
Middle East’s ride-hailing app Careem resumes Oman services
Dubai-headquartered Careem suspended services in Oman in 2017 shortly after launching when the government asked it to first work with licensed taxis
Uber-rival Careem expands services into Sudan
Dubai-based Careem is Uber's main Middle East rival, competing in most of the region's major cities including Cairo, Dubai, and Riyadh.
UAE court dismisses criminal case against Abraaj founder
The dismissal of the case provides breathing room for Naqvi as Dubai-based Abraaj tries to sell its investment management business.
