Careem, Pakistan

Dubai-based Careem mulls $500 million in funding

According to a report by Bloomberg, which cited people familiar with the matter, the Uber rival plans to raise the money as a precursor to a possible initial public offering and the fund-raising round could value Careem at as much as $1.5 billion.

UAE the most competitive nation in the region

The UAE has achieved the top ranking in the region and seventh ranking worldwide for global competitiveness, according to the latest edition of the World Competitiveness Yearbook 2018, published by the Swiss based Insatiate of Management Development (IMD) that was unveiled on Thursday.

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