Uber's Middle East business Careem sees ride-hailing recovery next year

Careem, a unit of Uber Technologies, expects ride-hailing demand to recover to pre-pandemic levels"sometime" in 2021, encouraged by a better-than-expected pickup as countries started to ease coronavirus-related curbs.

"It's been a tough couple of months," Careem Chief Executive Mudassir Sheikha told Reuters on Sunday."It's really anyone's guess. We have planned for a recovery sometime next year but ... the recovery has begun and the recovery has been faster already than our initial projections." "I'm actually quite bullish on the rest of the year and the next few years as a result of some of the restrictions that were put on our movement and the growth it led to in the adoption of digital platforms."

Source: News Formal (newsformal.com)

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