News

Careem Is Officially Suspending Its Services In Lebanon

Careem customers who have outstanding Careem credit or REWARDS points are encouraged to use them before March 25, 2022.

Published

3 years ago

March 23, 2022

careem is officially suspending its services in lebanon

Recently, vehicle for hire company Careem has announced its decision to leave Lebanon due to the unfavorable economic situation in the country.

“Unfortunately, due to the current economic environment in the country, we deeply regret that we’ve had to make the difficult decision to suspend our services in Lebanon starting from March 25, 2022” said the Careem team in the official statement.

careem suspending services in lebanon official statement

Careem customers who have outstanding Careem credit or REWARDS points are encouraged to use them before March 25, 2022. If they don’t make the deadline, their remaining credit will be automatically refunded.

REWARDS points can be redeemed through the Careem app, by converting them to Emirates Skyward Miles or donating them to charity.

Careem was founded in 2012 as a service for corporate car bookings. The service gradually expanded to include personal ride-hailing and food delivery. In 2019, Careem was acquired by Uber for $3.1 billion, which made it the first unicorn startup company in the Middle East (not including Israeli unicorn startups).

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During the first 10 months of 2021, Careem recorded 4.3 million rides, with 52 percent of its customers using the service to commute to work, and 46 percent using it for leisure trips.

It’s now clear that Careem’s success hasn’t been enough to offset the worsening economic situation in Lebanon. Since the start of the economic crisis, the Lebanese pound has lost more than 90 percent of its value, following a 58.1 percent contraction of Lebanon’s GDP between 2019 and 2021.

What’s more, the company has faced stiff competition from Bolt, which currently charges approximately the same as regular taxi drivers do for shorter trips. It’s tough to see yet another business leave Lebanon, but during times like this, there’s only one thing to say – yalla, bye!

News

1,000 Drones Light The Dubai Sky For AC Milan Celebration

Cyberdrone’s groundbreaking display marked 125 years of AC Milan football club and the 1st-year anniversary of Casa Milan Dubai.

Published

19 hours ago

November 21, 2024

Nour Nasir

Cyberdrone, a leading UAV display company based in Dubai, put on a breathtaking drone light show on Monday to honor two significant football milestones: AC Milan’s 125th anniversary and the one-year anniversary of Casa Milan Dubai.

The spectacle involved 1,000 drones working in perfect harmony to project AC Milan’s iconic imagery against the city’s night sky. Highlights included the UAVs synchronizing to form the club’s iconic crest, the signature red and black jersey, and a special emblem marking its 125th year. The intricate performance demanded meticulous planning, not just in terms of choreography, but also in dealing with the necessary permits and logistics.

cyberdrone ac milan dubai

“Our goal was to spotlight AC Milan’s legacy through a stunning visual narrative,” explained Mohamed Munjed Abdulla, Director of Sales at Cyberdrone. “We celebrated the club’s history, its Dubai milestone, and the universal love for football. The show also enhanced AC Milan’s regional presence, growing its fanbase through a cutting-edge, memorable experience. Drone shows are unparalleled in leaving lasting impressions, making them perfect for driving partnerships and growth”.

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Greta Nardeschi, AC Milan’s Regional Director for MENA, echoed the sentiment, adding: “Collaborating with Cyberdrone for this 1,000-drone performance allowed us to connect with our fans in innovative ways. It gave us a unique opportunity to surprise and inspire audiences while elevating our Club’s visibility and that of our partners. Cyberdrone truly helped us take AC Milan to new heights”.

This groundbreaking drone display sets a new benchmark for the Middle East’s sports sector, which already contributes around $2.4 billion annually to Dubai’s GDP alone. Sporting events also generate $1.76 billion in revenues across the region, while the MENA’s entertainment sector, valued at $41.13 billion, is growing at 9.41% annually, driven by rapid technological advancements.