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Discussion Starter · #1 ·
Uber has suspended operations along with Careem Networks ( a middle Eastern competitor) Several drivers from both companies have been arrested . The Saudi Sovereign Wealth fund had just invested $3.5 billion dollars into Uber as of June 1. Up to 50 drivers have been arrested,and nearly 70 cars impounded.
Dubai U.A.E. demands Uber set prices 30% above that of taxis.Uber has not been allowed to speak with their detained drivers as of yet. Anyone know more about this ?
 

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Premium Member
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Discussion Starter · #2 ·
The investors certainly won't like this one,especially in light of middle Eastern expansion plans on the tail of the retreat from China. Wonder what the analyst's think about this ? When it rains,it pours.
 

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