Middle East

Uber confirms $3.1 billion acquisition of Middle East rival Careem

Photo of Uber mobile app icon close-up.
Uber app icon. Photo Illustration: Thomas Trutschel/Photothek via Getty Images

Uber confirmed early Tuesday its long-rumored acquisition of Middle East ride-hailing company Careem for $3.1 billion.

The bottom line: Uber has been shedding its operations in several regions as it seeks to streamline its business, so this acquisition suggests it sees important market growth and potential in the Middle East.

Pompeo: Trump Middle East peace plan will be good for Palestinians

Pompeo
Secretary of State Mike Pompeo. Photo: Win McNamee/Getty Images

Secretary of State Mike Pompeo told me today in an interview in Jerusalem that the Trump administration's Middle East peace plan will be good for the Palestinians and that they should give it serious consideration.

Why it matters: The Trump administration's peace team, led by Jared Kushner and Jason Greenblatt, has been working on the peace plan for two years. U.S officials told me there is no set date yet for the release of the plan, but that it would be sometime between the Israeli elections on April 9 and mid-June.

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