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FINANCIAL NEWS
Uber inks deal with Dubai regulator
12 Jan 2017
(MENAFN) Uber signed a deal with Dubai’s transport authorities in order to become fully regulated after a series of clashes over pricing and availability.Moreover, both sides will team up on a project to study how to reduce congestion and the cost of transport in the Emirate, which Uber aims to open more business chances in the future.Meanwhile, Uber will be able to use 14.000 cars amid its app, while it has a valuation of almost USD70bn, which increased rapidly to more than 450 cities since 2009.Previously, Uber, in which Saudi Arabia’s Public Investment Fund bought USD3.5bn share in June, had complained that Dubai’s regulations needed it to price its rides.M
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