Uber’s Mideast Business Careem Sees Speedier-Than-Expected Recovery | Investing News

DUBAI (Reuters) – Uber Technologies Inc-owned

Middle East business Careem is seeing its ride service recover more quickly than expected from the coronavirus crisis, while its delivery business is larger than before the pandemic.

Careem, which mainly operates in the Middle East, had originally forecast that its ride service would recover at the end of 2021, but now expects it to rebound earlier in the year with some markets already close to pre-COVID levels.

“We are seeing a strong recovery in the rides business and we are seeing a pretty significant acceleration in the deliveries business,” Careem CEO Mudassir Sheikha told Reuters.

“The delivery business is significantly larger than what it was pre-COVID and continues to grow quite strongly, double digit month on month,” he said.

Careem, which says it has 1.7 million drivers in 13 countries, has said it has been encouraged by a better than expected pickup in

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