Careem is to make its cheaper services available in Abu Dhabi after receiving regulatory approval to charge rates that will make the cost of journeys using its ride sharing platform in the capital closer to what it is in Dubai.
The decision concludes what has been a five -year period of uncertainty over the legal status of both Careem and its rival Uber in the emirate.
They both launched in 2013 but suspended their services in 2016 amid concerns from transport authorities over their pricing structures being in violation of regulations for private hire car, or limousine, companies.
While Uber currently does not operate in Abu Dhabi, Careem re-entered the market but without offering its lowest priced car service.
“We have just received word from the regulator that we expect to be able to introduce a new, lower pricing structure for Careem services in Abu Dhabi within a matter of weeks,” said Bassel Al Nahlaoui, the company's managing director for the gulf region.
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Read more:
Uber and Careem to increase prices in the UAE
Careem blazes a trail for Middle East tech start-ups
Dubai’s transport regulator sets sights on Uber and Careem
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All fares for private hire car operators in Abu Dhabi must be approved in advance by TransAd but according to the rules, private operators in Abu Dhabi must charge a minimum of Dh40 for the first 10 kilometres, after which a rate of at least Dh4 per kilometre should apply. Careem’s app shows the rates for its limo service in Abu Dhabi currently meet these requirements.
However, soon Careem’s offering in Abu Dhabi will include its economy, business and minivan services in line with what customers can get in Dubai and with a similar pricing structure, Mr Al Nahlaoui said. Careem could not provide exact pricing for these services in Abu Dhabi at this time but it is understood that fares will be about 30 per cent more expensive than taxis. The minimum fare for a journey in a standard taxi in Abu Dhabi is Dh12 with the charge per kilometre Dh1.82.
In Dubai, its economy service has a minimum fare of Dh16 and a per kilometre charge of Dh2.24. Its business service has a Dh20 minimum and a rate of Dh2.6 per kilometre. The rules in Dubai stipulate that fares must be 30 per cent above taxi rates.
Now operating in more than 90 cities, Careem became the Middle East’s first tech “unicorn” in 2016, when a funding round led by Japan’s Ratuken and Saudi Telecom gave the company a value of $1 billion.
Mr Al Nahlaoui said that the ability to offer more of its services in Abu Dhabi is “a fantastic opportunity for us to fully embrace our potential in the capital after five years of operating here”.
According to a 2017 study on ride sharing by economics experts Robert Hahn and Robert Metcalfe, platforms like Careem and Uber have the potential to benefit consumers and increase their welfare in the markets in which they operate. These platforms can encourage higher utilisation of vehicles which may lower emissions per individual and fewer drivers searching for parking can also reduce congestion. According to Strategy&, GCC consumers spent $10.7 billion in 2016 on sharing economy platforms, including transportation.
Company%20Profile
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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JOKE'S%20ON%20YOU
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Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Director: Jon M Chu
Starring: Constance Wu, Henry Golding, Michelle Yeon, Gemma Chan
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Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
Alita: Battle Angel
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Stars: Rosa Salazar, Christoph Waltz, Keean Johnson
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AVOID SCAMMERS: TIPS FROM EMIRATES NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
The specs: 2018 Renault Koleos
Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 170hp @ 6,000rpm
Torque: 233Nm @ 4,000rpm
Fuel economy, combined: 8.3L / 100km
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
The specs
Engine: 2.4-litre 4-cylinder
Transmission: CVT auto
Power: 181bhp
Torque: 244Nm
Price: Dh122,900
'Midnights'
%3Cp%3E%3Cstrong%3EArtist%3A%3C%2Fstrong%3E%20Taylor%20Swift%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ELabel%3A%3C%2Fstrong%3E%20Republic%20Records%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
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BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
