عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Uber CEO: We Are Studying Partnerships in Air Transport, Self-Driving Vehicles Sectors

Uber CEO Dara Khosrowshahi. (Abdulaziz Al-Noman)
Uber CEO Dara Khosrowshahi. (Abdulaziz Al-Noman)
TT
TT

Uber CEO: We Are Studying Partnerships in Air Transport, Self-Driving Vehicles Sectors

Uber CEO Dara Khosrowshahi. (Abdulaziz Al-Noman)
Uber CEO Dara Khosrowshahi. (Abdulaziz Al-Noman)

The Uber ride sharing company revealed that it was studying striking partnerships in advanced air transport, including electric vertical takeoff and landing (eVTOL) vehicles, while also nearing introducing self-driving vehicles in service soon.

Uber CEO Dara Khosrowshahi told Asharq Al-Awsat it was important to provide land and air transport solutions to benefit from this advanced technology, especially in trips that stretch over 100 miles.

Khosrowshahi was in Riyadh where he took part in meetings with government entities to disucss boosting Uber’s partnership with Saudi Arabia.

On self-driving vehicles, he said adding them to the company will not take place overnight, but he expected that they will play an important role in the transport system and Uber’s future operations.

Uber is working with several trusted partners to strike innovative strategic partnerships across the United States, he went on to say. This includes cooperating with Waymo, an American autonomous driving technology company that is a subsidiary of Alphabet, the parent company of Google.

In Saudi Arabia, Khosrowshahi said Uber was seeking to work with relevant parties in the Kingdom to allow more drivers to transition to using electric vehicles.

Here, one must address two main challenges: the cost of these vehicles and charging options, he explained.

Uber is contributing in achieving urban transport goals in Saudi Arabia by supporting public transport and boosting access to them, he added.

Uber is part of the diverse transportation ecosystem of which public transport is a backbone, he stated.

In the United Kingdom, for example, over 40 percent of Uber trips are launched from or arrive to public transport stations.

The company has also provided the option to make reservations on trains and buses through Uber, helping in increasing the use of public transport and granting users a smooth and comfortable journey, said Khosrowshahi.

Saudi Arabia is a very important market for Uber. The company launched its operations in the Kingdom in 2014, making it one of Uber’s largest markets, he revealed.

It provides services to over 800,000 passengers in 17 cities. Uber also launched a service unique to the Kingdom, Uber Reserve, that allows travelers to book their trips to and from train stations, he added.

The service was launched in cooperation with the Saudi Arabia Railways (SAR) and will help in reducing reliance on privately owned cars, he said.

The company also launched Uber X Share that encourages carpooling and bolstering sustainable transportation, all with the aim of contributing to achieving the goals of Saudi Vision 2030, he added.

Such a service will help in achieving an emissions free future in Saudi Arabia by 2060, Khosrowshahi stressed.

Most Viewed

 
 
Business

Saudi-German Partnership Bolsters Kingdom’s Global Industrial Reach

Riyadh International Industry Week in its previous edition. Asharq Al-Awsat
Riyadh International Industry Week in its previous edition. Asharq Al-Awsat
TT
TT

Saudi-German Partnership Bolsters Kingdom’s Global Industrial Reach

Riyadh International Industry Week in its previous edition. Asharq Al-Awsat
Riyadh International Industry Week in its previous edition. Asharq Al-Awsat

Saudi Arabia is preparing to host Riyadh International Industry Week 2026, which will take place June 21–24 at the Riyadh International Convention and Exhibition Center under the patronage of the Ministry of Industry and Mineral Resources and organized by Riyadh Exhibitions Company.

More than 400 exhibitors from over 20 countries are expected to participate.

A central feature of this year’s event is the strategic partnership with Germany’s Messe Düsseldorf, a collaboration that strengthens the exhibition’s international dimension and reinforces Riyadh’s position as a regional center for industry and investment.

Mohammed Al-Husseini, CEO of Riyadh Exhibitions Company, told Asharq Al-Awsat that Riyadh International Industry Week serves as a platform bringing together leading specialized industrial exhibitions.

He said the partnership with Messe Düsseldorf has helped advance the plastics, rubber, processing, packaging, and printing sectors through the exchange of expertise and international best practices.

According to Al-Husseini, the event has, over 21 editions, supported the development of Saudi Arabia’s industrial sector and established itself as a key forum for knowledge sharing and the presentation of new industrial technologies and solutions.

It also supports industrial expansion, innovation, and strategic partnerships in line with the objectives of Vision 2030.

Founded in 1947, Messe Düsseldorf is one of the world’s leading trade fair organizers. The German city hosts roughly 40 trade fairs each year, including about 20 events regarded as global leaders in their respective industries.

Among its flagship exhibitions are K, focused on plastics and rubber; Interpack, dedicated to processing and packaging; and Drupa, which specializes in printing technologies. These exhibitions form the basis of the partnership between Messe Düsseldorf and Riyadh Exhibitions Company.

The collaboration was formally announced during Riyadh International Industry Week 2025 through a strategic agreement enabling the Saudi event to benefit from the expertise and standards associated with those international exhibitions. The move reflected Saudi Arabia’s growing appeal as a destination for industrial investment.

The partnership is being expanded in the 2026 edition through three specialized exhibitions: the 21st Saudi Plastics and Petrochemicals Exhibition, the Saudi Print and Pack Exhibition, and the fourth Saudi Smart Logistics Exhibition.

Beyond the exhibitions, an international conference opening June 22 will feature panel discussions and workshops on carbon-emissions reduction, the circular economy, sustainability, digital transformation, artificial intelligence, industrial investment opportunities, and ways to enhance the competitiveness of Saudi factories.

The event comes as Saudi Arabia continues efforts to expand its industrial base, increase local content, diversify its economy, strengthen supply chains, and adopt advanced technologies.

Organizers say the Riyadh-Düsseldorf partnership is expected to support industrial knowledge transfer, attract investment, and deepen international cooperation in the years ahead.

Business

Iran War Is a ‘Wake-up Call’ for Southeast Asia’s Energy Sector, Report Says

A pair of solar installers haul a solar panel onto the roof of a home in Manila, Philippines, on April 30, 2026. (AP)
A pair of solar installers haul a solar panel onto the roof of a home in Manila, Philippines, on April 30, 2026. (AP)
TT
TT

Iran War Is a ‘Wake-up Call’ for Southeast Asia’s Energy Sector, Report Says

A pair of solar installers haul a solar panel onto the roof of a home in Manila, Philippines, on April 30, 2026. (AP)
A pair of solar installers haul a solar panel onto the roof of a home in Manila, Philippines, on April 30, 2026. (AP)

The war in Iran has exposed major risks for Southeast Asia that could cost the region many billions of dollars if it does not diversify sources of energy more quickly, according to an International Energy Agency report released Tuesday.

An over-reliance on oil and gas transported through the Strait of Hormuz left the region particularly vulnerable to shocks from the Iran war, a "stark wake-up call" for its energy security, the report says.

It notes that rising sales of electric vehicles, a renewed interest in nuclear power and a boom in rooftop solar and other renewable energy installations show the war is spurring change.

But more sweeping reforms are needed. Otherwise, Southeast Asia’s energy import bill could rise to $245 billion by 2035, tripling from $80 billion in 2024, the report warns.

“Diversification of energy sources and supply routes is now a central priority," said Fatih Birol, the IEA executive director.

The energy shock sent Southeast Asia into a state of energy triage, leading to higher energy bills and rising inflation.

In a likely setback for efforts to phase out dependence on fossil fuels, the conflict has reinforced the need to rely on coal during times of energy crisis, the IEA said.

The war is also furthering plans for nuclear power in Southeast Asia, but years-long construction and regulatory processes remain. Indonesia, Vietnam and the Philippines may be the furthest along with nuclear power plans, but their timelines are uncertain.

“The IEA report clearly highlights that Southeast Asia is at a crossroads,” said Sam Reynolds of the US-based Institute for Energy Economics and Financial Analysis.

Do-it-yourself approaches are one option

In the Philippines, which declared a national energy emergency, consumers have turned to rooftop solar at record rates, as a quick, do-it-yourself solution to rising utility bills.

“This is the first time I’ve seen a demand shock of this magnitude," said Ivan Cano with the Manila-based solar company EcoSolutions.

The Philippines became the second-largest destination for Chinese solar exports in the first quarter of 2026, the IEA found. Imports were around three times higher than the same period last year.

Consumers have also driven a shift in Southeast Asia's transportation industry.

Electric vehicle sales more than doubled in 2025 to around half a million units, according to the IEA, which found that one in five cars sold regionally is electric.

Last month, Laos banned the import of fuel-powered vehicles for the rest of 2026 to cut oil imports and encourage the shift to EVs.

Despite the tentative deal to end the Iran war, fossil fuel prices will likely remain high which means “we will see a push towards more ambitious clean energy deployment,” said Reynolds with IEEFA.

To overcome its weaknesses, Southeast Asia needs to reduce its overall demand for imported fossil fuels, the IEA said.

It suggests making national grids more efficient and boosting investment in all forms of renewable energy, such as solar, wind, hydro and geothermal power.

“The Middle East conflict is both a stress test of Southeast Asia’s current energy system and a catalyst to accelerate structural change,” the report stated.

Business

Goldman Sachs Cuts Oil Price Forecasts after US-Iran Deal

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 15, 2026. REUTERS/Stringer
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 15, 2026. REUTERS/Stringer
TT
TT

Goldman Sachs Cuts Oil Price Forecasts after US-Iran Deal

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 15, 2026. REUTERS/Stringer
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 15, 2026. REUTERS/Stringer

Goldman Sachs lowered its fourth-quarter Brent crude oil price forecast to $80 from $90 and cut its 2027 average estimate to $75 from $80, after the US and Iran signed a preliminary agreement to reopen the Strait of Hormuz.

The revision is the bank's second cut in a week after it lowered its oil price forecast for 2027 on Friday, Reuters reported.

Analysts said in a note released late on Monday that ⁠they now expect ⁠Gulf exports to normalize to pre-war levels by the end of July, earlier than their previous forecast of end-August.

Oil prices eased on Tuesday, having slipped nearly 5% to their lowest since March 10 ⁠after US President Donald Trump said a memorandum of understanding was signed to end the US-Israeli war with Iran, which had closed the Strait of Hormuz.