‘Uber Taxi’ Launched in Jordan

‘Uber Taxi’ Launched in Jordan
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‘Uber Taxi’ Launched in Jordan

‘Uber Taxi’ Launched in Jordan

Uber Jordan today has announced the launch of taxi-hailing service ‘Uber Taxi’ in the country. Jordan is the first country in the Middle East to get Uber Taxi. Careem that was recently acquired by Uber recently, however, has taxi-hailing services in many of its markets in the region including Jordan.

Uber in a statement said that the launch of Uber Taxi in Jordan is a testament to Uber’s support of the public transport sector in the nation, as well as its efforts to make transportation even more accessible to residents and visitors alike.

The statement also noted that Uber Taxi has expanded company’s network of vehicles in the country and will provide new economic opportunities for taxi drivers who will have access to more trips.

The announcement comes almost two weeks after Uber’s acquisition of its rival Careem but apparently the launch has nothing to do with Careem already having the option to hail taxis in Jordan as the two companies are not expected to have any integration until the deal is closed.

The base fare of UberX, Uber’s low-cost car type and Uber Taxi is same, JOD 0.5 ($0.71) but the taxi is relatively cheaper than Uber X as the per KM charges for Uber Taxi are set at JOD 0.130 compared to Uber X’s JOD 0.140 and per minute charges on Uber Taxi are JOD 0.050 whereas Uber X charges JOD 0.060.

Pierre-Dimitri Gore-Coty, Vice President of Uber operations in Europe, Middle East & Africa, commenting on the launch, said, “I am honored to announce the arrival of Uber Taxi in Jordan, and we are excited to be tapping into local modes of transport so that more riders and drivers can benefit from our technology. Jordan is a fast growing market, especially in the smart transport services sector, and through this launch, we aim to move towards our goal of becoming a multi-modality platform,”

“Furthermore, we hope that this will galvanize the development of transportation services in Jordan, and provide taxi drivers new opportunities to reap the economic benefits by using our technology to maximize their earning potential through the option of pairing with the closest Uber Taxi rider in addition to traditional street hailing,” he added.

Uber Taxi can be accessed through the regular Uber app as another car option by the users in Jordan. The company already has on-boarded hundreds of taxi drivers who are ready to start accepting the trips.

The taxi drivers, per the statement, will receive the same privileges provided to all Uber drivers and will be charged a reduced service fee.



Saudi Minister of Finance Approves 2025 Annual Borrowing Plan

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)
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Saudi Minister of Finance Approves 2025 Annual Borrowing Plan

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)

Saudi Minister of Finance Mohammed Abdullah Al-Jadaan approved on Sunday the Annual Borrowing Plan for the fiscal year 2025, following its endorsement by the Board of Directors of the National Debt Management Center.

The plan highlights key developments in public debt for 2024, initiatives related to local debt markets, and the funding plan and its guiding principles for 2025, in addition to the 2025 issuances’ calendar for the Local Saudi Sukuk Issuance Program in Saudi Riyal.

According to the plan, the projected funding needs for 2025 are estimated at approximately SAR139 billion. The amount is intended to cover the anticipated budget deficit of SAR101 billion for the fiscal year 2025, as outlined in the Ministry of Finance’s Official Budget Statement, and the principals’ repayment of the debts maturing in the current year, 2025, amounting to approximately SAR38 billion.

To boost the sustainability of the Kingdom's access to various debt markets and broaden the investor base, Saudi Arabia aims in 2025 to continue diversifying local and international financing channels to efficiently meet funding needs.

This will be achieved through the issuance of sovereign debt instruments at fair pricing, guided by well-defined and robust risk management frameworks.

Additionally, the Kingdom plans to benefit from market opportunities by executing private transactions that can promote economic growth, such as export credit agency financing, infrastructure development project financing, capital expenditure (CAPEX) financing, and exploring tapping into new markets and currencies based on market conditions.