The agreement lets SoftBank and other firms invest up to $1 billion in Uber, and proceed with a tender offer in coming weeks to buy up to $9 billion in shares from existing investors.
News, Software
Egypt lifts ban on Uber and Careem
An Egyptian court ruled to revoke the suspension of the licenses of ride-hailing companies Uber and Careem, allowing them to continue their work, Reuters reports citing judicial sources said. 0 2104
Uber loses UK court appeal against drivers’ rights
Uber has reportedly lost its appeal against a ruling that its drivers should be classed as workers with minimum-wage rights rather than self-employed.
Uber enhances app features to improve experience of Dubai drivers
The company said in a statement that the new features, which are being rolled out across the MENA region, aim to address three key areas: flexibility, efficiency and earnings.
RTA, Uber explore offering budget taxi services in Dubai
The talks follow a trial of the uberX service earlier this year that aims to provide passengers in Dubai with access to affordable travel.
Dubai Internet City to highlight ecosystem quartet at GITEX
Dubai Internet City (DIC) has announced its participation at GITEX Technology Week 2017, marking its 18th outing at the definitive …
Uber, SoftBank to prevent Kalanick from future leadership roles
According to a recent report by Bloomberg, the Japanese firm has agreed to block Uber founder Travis Kalanick from returning as CEO and prevent him from being appointed to any of the company’s top ranks.
Gartner: 55 percent would not ride in self-driving cars
Gartner research has revealed that 55 percent of respondents would not consider riding in a fully autonomous vehicle, while 71 …
Alphabet considers $1bn Lyft investment: Bloomberg
The investment would allow Lyft to pursue aggressive growth with grants for drivers and discounts for riders, while also expanding its marketing strategy.
Uber Partners with ArabiaWeather for climate insights
Uber has partnered with ArabiaWeather to leverage their technologies to provide people with weather forecasts and better access to Uber …
Uber appoints Expedia’s Dara Khosrowshahi as new CEO
Reuters reported that Khosrowshahi, 48, would take on the challenge of leading the ride-services company out of a nearly year-long crisis.