Dubai / WAM Uber and Careem have reached an agreement for Uber to acquire Careem for $3.1 billion, consisting of $1.7 billion in convertible notes and $1.4 billion in cash. The acquisition of Careem is subject to applicable regulatory approvals. The transaction is expected to close in Q1 2020. Uber will acquire all of Careem’s mobility, delivery, and payments businesses ...

ABU DHABI / WAM Continuing its upward streak for the second straight month, the total foreign currency assets held by the Central Bank of the UAE increased to AED359 billion by the end of February 2019, a growth of 3.2 percent from AED348 bn in the preceding month, as current account balances and deposits with foreign banks strengthened to AED289.76 ...

Kuwait / Emirates Business Gulf Craft, the Emirates pioneer builder of luxury yachts and leisure boats, and Al Boom Marine, its dealer in Kuwait, explore a world of opportunities at the 7th international edition of the Kuwait Yacht Show 2019. The shipyard returns to the show with a fleet of 7 yachts and boats, boasting its leading position in the ...