June 18, 2019

Dubai royal, Sheikh Saeed bin Ahmed Al Maktoum, has invested in Urent, a new online platform that aims to revolutionise the UAE car rental industry.

Dubbed an Airbnb for cars, it offers the first peer-to-peer vehicle sharing platform in the region, creating a whole community that focuses on building trust between two people, one being the private vehicle owner, the other being the renter.

It will also provide UAE residents and citizens with the right to rent vehicles of up to six categories.

CEO"...

June 15, 2019

You may have to save up for this one – Aston Martin's newest car in its Continuation series is being unveiled at the 24 Hours of Le Mans race, ahead of its launch on the market, and it's a pricey little runaround.

If you want one in your garage, you'll have to part with £6 million plus taxes, which is around Dh30 million.

And that's if you can even get one, as Aston Martin is only making 19 of them.

The car won't be racing at Le Mans, but it'll be on display"...

June 14, 2019

Velodyne Lidar, Inc. (Stand A50) will demonstrate how its smart, powerful lidar solutions can advance port terminal automation at TOC Europe in Rotterdam, 18-20 June. Velodyne will highlight customer applications that show how its lidar sensors can be used in crane steering, container handling, internal terminal vehicles (ITV), automated guided vehicles (AGV), forklifts, and terminal security/yard monitoring systems. DGWorld (Stand B21A), a Dubai-based Velodyne integrator, will showcase autonomous taxis, ITVs, AGVs, and terminal operation vehicles that use Velodyne lidar sensors to run autonomously. These vehicles use advanced artificial intelligence (AI), automation, and self-driving systems to bring greater precision and efficiency to port and terminal operations. “Autonomous vehicles (AV) can reduce costs in port and terminal operations, and bring improved reliability and predictability,” said Gautam Ahuja, Business Development and Sales Director, DGWorld. “Velodyne’s state-of-the-art sensors provide the range, 360-degree field of view, and resolution that our AVs need to synchronize and optimize logistics movements within a port.” DGWorld is a leading provider of advanced autonomous solutions for seaports, airports, and urban cities. DGWorld is working with international port terminal operators in automating their ITVs, with projects that are being implemented at ports. “DGWorld......

June 11, 2019

The UAE has rubber-stamped Uber’s $3.1 billion acquisition of Dubai-based ride-hailing app Careem.

An Uber spokesperson said: “We welcome the decision by HE Sultan Al Mansouri, Minister of Economy of the UAE, to unconditionally approve Uber's pending acquisition of Careem. Uber and Careem joining forces will deliver exceptional outcomes for riders, drivers, and cities, in this fast-moving part of the world.”

The acquisition, which will consist of $1.7bn in convertible notes and $1.4bn in cash, will be the largest technology transaction to ever"...

June 11, 2019

The Middle East and Africa's (MEA) auto aftermarket is expected to grow 43 per cent over the coming few years as the competition grows and demand for automobiles and their parts grows in line with growth of population, industry executives said.

'We're confident that demand for the automotive service industry and aftermarket products will remain robust, with growth largely fuelled by demand from existing vehicle part and the expected improvement of car sales moving forward,' said Mahmut Gazi Bilikozen, show director, Automechanika Dubai.

He pointed out"...

June 9, 2019

Mwasalat, the Omani government-owned transport company, has resumed its service between Dubai and Muscat, the company announced today.

The transportation firm said it suspended its service in the aftermath of the crash which claimed the lives of 17 people on Thursday.

In a further update today, said operations resumed today, in agreement with Dubai’s Road and Transport Authority in Dubai.

'Service on the same route was previously suspended soon after the accident as a precaution"...

June 3, 2019

Gheed El Makkaoui, the General Manager of Careem in the UAE, will be the keynote speaker at the upcoming Arabian Business Startup Academy, which will take place on June 18.

At the previous academy in March the Careem was the talk of the event as it made headlines across the region and beyond when it announced the Dubai-based ride-hailing start-up was to the acquired by Uber as part of a $3.1 billion deal.

El Makkaoui’s role has been to oversee Careem’s growth across three verticals - ride-hailing, deliveries, and new ventures - as well as managing a team"...

June 2, 2019

Being situated out in Dubai, when it comes to the finer things in life, we're in prime position to have first dibs. It just goes with the territory. Along with the tallest buildings, malls and hotels bigger than some European towns, and a roster of high-net-worth individuals capable of making a Davos party-planner blush, it is no wonder the more five-star end of the automobile spectrum loves us. Unique brand offerings have been known to sell-out their limited UAE run of vehicles before the first has made it off the production line. We remember attending a McLaren MP4- 12C (what a name) launch many years ago and the desire was palpable. Even our police force can boast a more prestigious car collection than Jay Leno,"...

May 30, 2019

Ferrari has done the unthinkable and going electric following the launch overnight of the Plug-In Hybrid SF90 Speciale V8 supercar and according to company CEO Louis Camilleri, there’s plenty more to come.

Following a dabble into hybrid technology with the invitation-only, limited build LaFerrari in 2013, the company is going all out, launching an electrification offensive that will result in a fully electric Ferrari supercar after 2022.

It’s a game of survival for the world’s supercar manufacturers fighting against tightening EU emission regulations"...

May 29, 2019

Careem has acquired UAE-based bike-sharing company Cyacle, the company said on Tuesday.

Cyacle, which began operations in 2014 with backing from the Khalifa Fund for Enterprise Development, has 50 bike-share stations in Abu Dhabi.

The financial terms of the deal were not disclosed.

“Many journeys are relatively short in distance, including those to and from transportation hubs such as metro and bus stations,” said Magnus Olsson, Careem co-founder and CEO.

“So,"...