Investors have weighed in on Uber's acquisition of Careem.
On Tuesday, global ride-hailing firm Uber confirmed it will spend $3.1 billion to acquire its Middle East rival.
Fadi Ghandour, founder of Dubai-based Wamda Capital, tells ARN News what he makes of the development.
He added that the deal proves that local ideas are worth investing in.
You can listen to Ghandour's full interview with Dubai Eye 103.8's Business Breakfast here.
UAE to develop a defence industrial free zone in Abu Dhabi
Al Selmiyyah, a suburb in Abu Dhabi, will turn into a zone that will be dedicated to advancing defence manufacturing in the UAE.
Apple settles lawsuit over late Siri AI features for $250 million
Apple has settled for $250 million on Tuesday in a shareholder lawsuit brought after the company delayed artificial-intelligence upgrades to its Siri voice assistant.
UAE plans to establish global defence manufacturing hub
The UAE is planning to establish a global defence manufacturing hub in partnership with South Korea’s LIG Defense and Aerospace.
UAE signs contract to purchase C-390 Millennium aircraft for air force
His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, has witnessed the signing of a contract to purchase C-390 Millennium aircraft for the UAE air force.
'Make it in the Emirates' sees strong local, international turnout
His Highness Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, attended the opening of the fifth edition of 'Make it in the Emirates' on Monday.
In a statement marking the 50th anniversary of the unification of the UAE Armed Forces, President His Highness Sheikh Mohamed bin Zayed Al Nahyan said the nation’s strength lies in its military, the unity of its society and the resilience of its development model.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has marked the 50th anniversary of the unification of the UAE Armed Forces with a statement praising their role, sacrifices and five decades of service in defending the nation and upholding its pride.
Leaders from Jordan, Kurdistan region of Iraq and Israel have condemned the Iranian attacks on the UAE during phone calls with President His Highness Sheikh Mohamed bin Zayed Al Nahyan.
