‘Uber Taxi’ Launched in Jordan

‘Uber Taxi’ Launched in Jordan
TT

‘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.



Gold Hits Three-week Peak on Softer Dollar and Safe Haven Inflows

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
TT

Gold Hits Three-week Peak on Softer Dollar and Safe Haven Inflows

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices touched their highest level in three weeks on Friday supported by a softer dollar and safe-haven buying, while markets braced for potential economic and interest rate changes from US President-elect Donald Trump's proposed policies.

Spot gold was little changed at $2,658.11 per ounce, as of 1115 GMT, hitting its highest level since Dec. 13. Bullion is up about 1.5% for the week so far.

US gold futures were steady at $2,672.20.

The dollar index fell 0.3% from over a two-year high hit in the previous session, making dollar-priced bullion more affordable for holders of other currencies, Reuters reported.

"Gold bulls are setting the tone early doors this year, enjoying the lift from safe haven bids while riskier equities struggle to hold on to nascent gains," said Exinity Group Chief Market Analyst Han Tan.

On the geopolitical front, in Gaza Israeli airstrikes killed at least 68 Palestinians, Gaza authorities said. While, Russia launched a drone strike on the Ukrainian capital Kyiv on Wednesday, city officials said.

Trump's inauguration on Jan. 20 has heightened uncertainty, with his proposed tariffs and protectionist policies expected by many economists to be inflationary and potentially spark trade wars.

"Markets are aware that Trump's policies risk reawakening US inflationary impulses, which should be a boon for gold so long as markets adhere to the precious metal’s role as an inflation hedge," Tan added.

Bullion, which is considered a hedge against economic and geopolitical uncertainties, tends to thrive in lower interest rate environment.

After delivering three consecutive interest rate cuts in 2024, the US central bank now projects only two reductions in 2025 due to due to stubbornly high inflation.

Spot silver rose 0.6% to $29.75 per ounce.

"Lower real US yields and stronger global industrial production should favor the metal in 2025," UBS said in a note, adding that they see silver to trade between $36-38/oz in 2025.

Platinum added 0.8% to $930.09, and palladium gained 1.2% to $922.58. Both metals were on track for weekly gains.