Ride-hailing
The biggest players are Careem and Uber, which had its IPO in May and posted a wider third-quarter loss on Monday as it tries to outspend competitors.
Cabinet’s spokesperson Ashraf Sultan said the government moved to regulate ride-hailing services before recent lawsuit demanding banning the service.
Ride-hailing service Uber Technologies Inc. [UBER.UL] is growing rapidly in sub-Saharan Africa and considering moves into more markets, despite sometimes violent opposition from metered taxi drivers.
