China’s DiDi Invests in Middle East Ride-Hailing Service Careem

Ride-hailing app Careem. (AFP)
Ride-hailing app Careem. (AFP)
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China’s DiDi Invests in Middle East Ride-Hailing Service Careem

Ride-hailing app Careem. (AFP)
Ride-hailing app Careem. (AFP)

China's largest ride-hailing firm DiDi Chuxing has invested in Careem, the Dubai-based Middle East online taxi service.

This new partnership deal marks Didi's latest international expansion against rival Uber.

DiDi is seeking to turn up the heat on ride-sharing pioneer Uber via a string of partnerships with regional players in Southeast Asia, Europe and Africa and now the Middle East. It has previously done similar deals in Latin America as well as with Uber's US rival Lyft.

DiDi said on Tuesday it would invest in Careem to strengthen its market position across the region. The two companies said they would cooperate on smart transportation technology, product development and operations.

Careem and DiDi declined to comment on the size of the Chinese company's investment in Careem.

Founded five years ago, Careem has 12 million customers in 80 cities ranging from Pakistan to Turkey, Lebanon, Saudi Arabia, Jordan, Egypt and Morocco.

It is ahead of Uber in Pakistan and a strong second player to Uber in other regional markets, according to research firm SimilarWeb, which tracks consumer mobile and web usage habits.

DiDi's ride-hailing system covers cities representing 60 percent of the world’s population in 1,000 cities in North America, Southeast Asia, South Asia and South America, it said.

Over the past few weeks, DiDi has announced a similar investment in Estonian-based ride-hailing firm Taxify to help it to expand in Europe and Africa.

DiDi and its backer SoftBank Group have also said they would contribute the bulk of a new $2.5 billion investment into Grab, a major online taxi player in south east Asia.

DiDi is the world's second most valuable venture-backed start-up after Uber, having last been valued at $50 billion according to venture investment tracking firm CB Insights, having raised $13 billion in funding over the past five years.

In July, Kingdom Holding Company of billionaire Saudi Prince Alwaleed bin Talal invested $62 million in Careem.

The Kingdom Holding Company announced the roughly 7 percent acquisition of the ride-hailing service, giving it a seat on app's board of directors.

The Kingdom Holding Company has a broad range of global investments, including in other technology firms such as Lyft, Uber's competitor in the US.

Last year, the Saudi government's sovereign wealth fund invested $3.5 billion in Uber.



Syria Signs $800 Million Agreement with DP World to Bolster Ports Infrastructure

An aerial view shows solar panels installed on building rooftops in Damascus, Syria, Monday, June 30, 2025. (AP Photo/Ghaith Alsayed)
An aerial view shows solar panels installed on building rooftops in Damascus, Syria, Monday, June 30, 2025. (AP Photo/Ghaith Alsayed)
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Syria Signs $800 Million Agreement with DP World to Bolster Ports Infrastructure

An aerial view shows solar panels installed on building rooftops in Damascus, Syria, Monday, June 30, 2025. (AP Photo/Ghaith Alsayed)
An aerial view shows solar panels installed on building rooftops in Damascus, Syria, Monday, June 30, 2025. (AP Photo/Ghaith Alsayed)

Syria's General Authority for Land and Sea Ports on Sunday signed a $800 million agreement with UAE's DP World to bolster Syrian ports infrastructure and logistical services, Syrian state news agency SANA reported.

The agreement follows on from a memorandum of understanding signed between the two sides in May.

The deal with DP World, a subsidiary of United Arab Emirates investment company Dubai World, focuses on developing a multi-purpose terminal at Tartous on Syria's Mediterranean coast and cooperation in setting up industrial and free trade zones.

The signing ceremony was attended by Syrian President Ahmed al-Sharaa.

Last month, US President Donald Trump signed an executive order terminating a US sanctions program on Syria, paving the way for an end to the country's isolation from the international financial system and for the rebuilding of its economy shattered by the civil war.

The removal of US sanctions will also clear the way for greater engagement by humanitarian organizations working in Syria, easing foreign investment and trade as the country rebuilds.