5 Minutes Read

Ride-hailing app Uber ceases operations across Pakistan

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The company’s subsidiary brand, Careem, will continue to offer ride-hailing services across Pakistan.

Uber, the global ride-hailing service, has ceased all operations in Pakistan due to intense competition from local players, as confirmed by a spokesperson on Tuesday. The company’s subsidiary brand, Careem, will continue to offer ride-hailing services across Pakistan.

Following Uber’s acquisition of its rival Careem for $3.1 billion in 2019, both companies had pledged to maintain their independent brands and regional services.

However, Uber had already stopped its operations in Karachi, Multan, Faisalabad, Peshawar, and Islamabad in 2022. It continued operating in Lahore through Careem and the Uber app.

The spokesperson stated that Uber will now focus on expanding the Careem app in Pakistan, and Uber users will need to switch to Careem as operations have ceased in Pakistan starting Tuesday. Users with remaining balances in their Uber accounts will be able to reclaim their amounts and receive free rides on Careem.

The rise of local ride-hailing and sharing apps offering competitive rates has challenged the dominance of Careem and Uber in Pakistan. Presently, In-Ride, a service allowing users to negotiate fares with drivers, has emerged as the most popular option.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?