DUBAI: The UAE’s Careem, a ride hailing application, is set to sign up around 1,000 Saudi women drivers for its expansion plan in the Kingdom, according to its co-founder, Thomson Reuters’ Zawya website reported.
“We foresee very strong growth in Saudi Arabia, both in the cities where we already have presence today and in the new cities we plan to expand to as well,” Magnus Olsson, co-founder of Careem, told Zawya in an interview.
Saudi Arabia’s King Salman lifted the de-facto ban on women driving in the Kingdom in September last year, with the decree set to be implemented on June 24, 2018.
“We are very excited about this June, it is a big milestone for the country. We have already started training female captains and we hope to get up to 100,000 female captains on board within a year from June,” Olsson said.
Olsson also said that nearly 1,000 Saudi women have already signed up and are currently in training.
The push also aids Saudi women’s struggles in the job market, with 80 percent of unemployed citizens comprised of women, according to the most recent official figures.
Careem signs up nearly 1,000 Saudi women drivers
Careem signs up nearly 1,000 Saudi women drivers
Closing Bell: Saudi main index closes in red at 11,167
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 46.43 points, or 0.41 percent, to close at 11,167.54.
The total trading turnover of the benchmark index was SR4.88 billion ($1.30 billion), as 66 of the listed stocks advanced, while 192 retreated.
The MSCI Tadawul Index decreased, down 5.52 points, or 0.37 percent, to close at 1,506.55.
The Kingdom’s parallel market Nomu lost 153.40 points, or 0.65 percent, to close at 23,486.52. This comes as 32 of the listed stocks advanced, while 31 retreated.
The best-performing stock was Tourism Enterprise Co., with its share price surging 9.95 percent to SR14.36.
Other top performers included Mobile Telecommunication Co., Saudi Arabia, which saw its share price rise by 5.32 percent to SR11.48, and Al Masar Al Shamil Education Co., which saw a 4.86 percent increase to SR22.89.
On the downside, Almoosa Health Co. was the day’s weakest performer, with its share price falling 4.81 percent to SR150.40.
Dallah Healthcare Co. fell 3.81 percent to SR113.50, while Saudi Research and Media Group dropped 3.44 percent to SR100.90.
On the corporate front, Arabian Plastic Industrial Co. has signed a non-binding memorandum of understanding with K. K. Nag to explore the establishment of a specialized manufacturing facility for expanded polypropylene products.
According to a Tadawul statement, the agreement sets out initial mutual obligations and rights between the two parties as part of APICO’s broader expansion strategy to increase production capacity and meet rising industrial demand.
The company’s share price rose 1.21 percent to SR43.52 on the parallel market.
