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Hailing the magic carpet

26 March 2019 By Karen Kwok, Gina Chon

The ride-hailing giant will pay $3 bln to acquire Dubai-based rival Careem. It shows the group, which is burning through $1 bln a year, can still spend to grow as it prepares to go public. Amid intense overseas competition, the move gives Uber one less thing to worry about.

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