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Uber to announce deal to buy rival Careem as early as this week: Bloomberg

Uber to announce deal to buy rival Careem as early as this week: Bloomberg

(Reuters) – Uber Technologies Inc will announce plans to acquire Dubai-based rival Careem Networks FZ as early as this week, Bloomberg reported on Sunday, citing people familiar with the matter. Uber will pay $1.4 billion in cash and $1.7 billion in convertible notes, which will be convertible into Uber shares at a price equal to [...]

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Abu Dhabi aims to lure start-ups with investment in new technology hub

Abu Dhabi aims to lure start-ups with investment in new technology hub

ABU DHABI (Reuters) – Abu Dhabi will commit up to 1 billion dirhams ($272 million) to support technology start-ups, it said on Sunday, in a dedicated hub as part of efforts to diversify its economy. U.S. tech giant Microsoft will be a strategic partner, providing technology and cloud services to the businesses that join the [...]

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China refuses to concede on U.S. demands to ease curbs on tech firms: FT

China refuses to concede on U.S. demands to ease curbs on tech firms: FT

(Reuters) – Ahead of fresh high-level trade talks this week, China is not conceding to U.S. demands to ease curbs on technology companies, the Financial Times reported on Sunday, citing three people briefed on the discussions. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are scheduled to travel to Beijing for talks starting [...]

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