Careem on Monday launched its services in Baghdad, even as questions remain over security conditions in the Iraqi capital.
The ride-sharing company, whose investors include Saudi Prince Alwaleed bin Talal and German car-maker Daimler, said it plans to expand into more cities across Iraq in the near future, without giving further details.
“Through our presence on the ground, we hope to contribute to the rebuilding of Iraq to its former status as one of the leading nations in the Middle East," said Mudassir Sheikha, the co-founder and chief executive of Careem. "Iraq is a country with rich heritage and strategic importance for the region."
But the launch coincided with a double suicide bombing in Tayaran Square in the city centre, a stark reminder of the threat from ISIL to businesses and civilians in the city, even though the pace of such attacks has slowed since the government declared last month it had retaken all territory from the group.
“Iraqi forces have done a good job in recent months of recapturing lands held by Islamic State throughout the country,” said Joel Gulhane, a Middle East analyst at The Risk Advisory Group in London.
“But Monday’s bombing shows the threat from [ISIL] is still present regardless of whether or not they hold territory in the country and that civilians are still targeted.”
“Despite government efforts, Baghdad does continue to be a highly insecure environment for businesses to operate in. The frequency of suicide and car bombings fell in 2017 to less than four a month on average, compared with more than five a month in 2016. Smaller bombings also continue to occur almost every other day, contributing to the uncertain security environment in the capital.”
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Mr Sheikha said the company was fully aware of the security and other challenges that faced it in the country.
"We are determined to overcome local challenges so that we can simplify mobility for Iraqis and create income-generating opportunities for them and their families," he said.
Careem now operates in over 90 cities across more than 13 countries in the wider Middle East region. The firm has more than 15 million users and 500,000 drivers or "captains."
The company, founded in 2012, is one of the most prominent start-ups in the Middle East, becoming the region's first tech unicorn in late-2016 after a US$350 million funding round led by Japan's Rakuten and Saudi Telecom valued the company at $1 billion.
Careem in August agreed a partnership deal with Didi Chuxing, China's largest ride-hailing firm, including an undisclosed investment component.
The company is looking to deepen its penetration in key markets including Egypt, Pakistan and Turkey in 2018, and is considering entering new markets including East African countries such as Kenya and Uganda.
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
The specs: 2018 BMW R nineT Scrambler
Price, base / as tested Dh57,000
Engine 1,170cc air/oil-cooled flat twin four-stroke engine
Transmission Six-speed gearbox
Power 110hp) @ 7,750rpm
Torque 116Nm @ 6,000rpm
Fuel economy, combined 5.3L / 100km
Biggest%20applause
%3Cp%3EAsked%20to%20rate%20Boris%20Johnson's%20leadership%20out%20of%2010%2C%20Mr%20Sunak%20awarded%20a%20full%2010%20for%20delivering%20Brexit%20%E2%80%94%20remarks%20that%20earned%20him%20his%20biggest%20round%20of%20applause%20of%20the%20night.%20%22My%20views%20are%20clear%2C%20when%20he%20was%20great%20he%20was%20great%20and%20it%20got%20to%20a%20point%20where%20we%20need%20to%20move%20forward.%20In%20delivering%20a%20solution%20to%20Brexit%20and%20winning%20an%20election%20that's%20a%2010%2F10%20-%20you've%20got%20to%20give%20the%20guy%20credit%20for%20that%2C%20no-one%20else%20could%20probably%20have%20done%20that.%22%3C%2Fp%3E%0A
The specs
Engine: 3.8-litre V6
Power: 295hp at 6,000rpm
Torque: 355Nm at 5,200rpm
Transmission: 8-speed auto
Fuel consumption: 10.7L/100km
Price: Dh179,999-plus
On sale: now
The specs
Engine: 2.0-litre four-cylinder turbo
Power: 268hp at 5,600rpm
Torque: 380Nm at 4,800rpm
Transmission: CVT auto
Fuel consumption: 9.5L/100km
On sale: now
Price: from Dh195,000
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
THE SPECS
Engine: 4.4-litre V8
Transmission: Automatic
Power: 530bhp
Torque: 750Nm
Price: Dh535,000
On sale: Now
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
