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Mideast ride-hailing app Careem secures $200 million new funding

Middle East ride-hailing company Careem said on Thursday it had secured $200 million in new funding from existing investors, including from Saudi Arabian billionaire Prince Alwaleed bin Talal's Kingdom Holding. Dubai-headquartered Careem, the main regional rival of Uber Technologies, has expanded into new markets this year such as Sudan and has been trialing food delivery services since February. The $200 million raised from existing investors also includes Saudi Arabia's Al Tayyar Group and STV, and Japanese…

Uber’s Chinese rival Didi Chuxing to enter Mexico next year: sources

MEXICO CITY/SAN FRANCISCO: Didi Chuxing, China’s ride-hailing behemoth, plans to expand into Mexico next year, intensifying its global rivalry with Uber, according to two sources familiar with the plans. Didi has spoken before of global ambitions, but has not formally announced where or when it would expand. The Chinese company is the second-most highly valued, venture-backed private firm in the world, after Uber. Didi has no cars outside China, meaning Mexico could be its first international operation. Didi, whose…

Apple reveals autonomous vehicle ambitions

SAN FRANCISCO: Apple has revealed it is investing heavily in autonomous vehicles in a letter asking the government to make it easier to develop self-driving cars. The company is "excited about the potential of automated systems in many areas, including transportation," Apple said in a November 22 letter to the National Highway Traffic Safety Administration offering Apple's opinion about draft regulations for the sector. "Apple looks forward to collaborating with NHTSA and other stakeholders so that the significant…

Chinese tech firms bet on ‘Uber for bikes’ internet craze

HONG KONG: China's tech industry giants are sloughing hundreds of millions of dollars into what they're betting will be the country's next big internet craze - 'Uber for bikes'. A symbol of China's cities long before a boom in cars, snarling traffic and smog, the humble bicycle is making a comeback. Start-ups equipped with smartphone apps, GPS and scannable codes are selling cheap bike-sharing to city-dwellers as the way to beat jams on China's most clogged streets. The rush to invest in car ride-hailing apps in China…