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.
US, China economic chiefs meet in Paris to clear path to Trump-Xi summit
Top US and Chinese economic officials launched a new round of talks in Paris on Sunday to iron out kinks in their trade truce and clear a smooth path for US President Donald Trump's trip to Beijing to meet with Chinese President Xi Jinping at the end of March.
US says oil from strategic reserve to start reaching market next week
The Trump administration said on Friday it expects early deliveries of oil from the US strategic petroleum reserve to reach the market by the end of next week as part of an effort to combat the energy price spike since the start of the Iran war.
Standard Chartered issues clarification on local operations
Standard Chartered Bank has clarified that reports of staff being evacuated from its Dubai offices are inaccurate.
Cyprus aims for gas exports by 2028 as conflict heightens supply tensions
Cyprus could begin producing natural gas for export as early as 2028, Energy Minister Michael Damianos said, potentially strengthening Europe's push to diversify its energy sources as regional conflict tightens focus on supply.
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