The Bell Nexus concept “flying car” is shown at the Uber Elevate summit in Washington on Wednesday. Agence France-Presse
Uber Technologies has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said in its IPO filing. The document gave the first comprehensive financial picture of the decade-old company which was started after its founders struggled to get a cab on a snowy night and has changed the way much of the world travels.
Uber’s autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corporation, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering.
Uber Technologies, the world’s largest ride-hailing company, plans an initial public offering (IPO) that values the company as much as one-third below what the startup’s insiders had hoped for, between $80.5 billion and $91.5 billion. Underscoring the company’s ability to generate revenue but also the scale of its losses,
Emirates airline has partnered with Uber to offer UAE travellers discounted airport transfers this summer. Emirates Economy Class Flex Plus and Economy Class Flex customers can avail free or discounted airport rides to and from DXB on bookings made starting from June 2 until July 31, for travel until Aug.31.
Eng. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, issued a ministerial decision approving the status of Economic Concentration in the UAE market for the upcoming acquisition of Careem — one of the leading start-ups
Construction consultancy Jacobs Mace has been named Expo 2020 Dubai’s Official Programme Delivery Management Provider, strengthening an already successful relationship and supporting Expo’s ambition to deliver a worldclass site
Chief Minister of the north Indian State of Himachal Pradesh, Jai Ram Thakur, has urged Indian business leaders in the UAE to participate in the development of the state by investing in promising sectors and assured them attractive returns on their investment.