- Title: Uber's Middle East business Careem sees ride-hailing recovery next year
- Date: 28th June 2020
- Summary: DUBAI, UAE (JUNE 28, 2020) (VIDEO RECORDED BY REUTERS) (SOUNDBITE) (English) CAREEM CEO, MUDASSIR SHEIKHA, SAYING: "Of course we all hope that this thing [Covid-19] is behind us as much as possible and that from this point on we recover strongly. But we did a lot of things in our business in the last three months that now position us well for any future disruptions, were they to come."
- Embargoed: 12th July 2020 12:07
- Keywords: Careem Coronavirus Health Ride-hailing Uber Visa
- Location: DUBAI, UAE
- City: DUBAI, UAE
- Country: UAE
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA009CKA8UX9
- Aspect Ratio: 16:9
- Story Text: Careem, a unit of Uber Technologies, expects ride-hailing demand to recover to pre-pandemic levels "sometime" in 2021, encouraged by a better-than-expected pickup as countries started to ease coronavirus-related curbs.
The company, which primarily operates in the Middle East, has seen its overall business, which also includes delivery services such as take-away food, recover at an almost double-digit rate week-on-week over the past two months as countries eased restrictions, he said.
Dubai-headquarterd Careem will fast-track plans to add more features to its 'Super App' that has expanded to also include some payment services.
It announced on Sunday it had signed a multi-year agreement with Visa that will see Visa push payment services become available through the app.
Careem, which was bought by Uber last year for $3.1 billion, shed nearly a third of its workforce as a result of the pandemic, laying off 536 staff.
(Production: Tarek Fahmy)
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