Careem insists business as usual in Egypt despite legal row

Careem said it had full confidence in Egypt’s judicial system following a legal move to halt the operations of the company alongside rival Uber. (Reuters)
Updated 21 March 2018
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Careem insists business as usual in Egypt despite legal row

LONDON: Careem said it had full confidence in Egypt’s judicial system following a legal move to halt the operations of the company alongside rival Uber.
The pair are the focus of protests by Egyptian taxi drivers who say that their drivers are not required to pay fees to operate transportation services.
An Egyptian court this week accepted a petition that demanded the government stop licensing Uber and Careem activities in Egypt, including their online applications, state-owned newspaper Al-Ahram reported.
The lawyer representing taxi drivers, Khaled Al-Gamal, told AFP that the ruling would have to be implemented by the government even if Uber and UAE-based Careem appeal.
“They have to stop operations and block their mobile applications on the Internet,” he told AFP.
But both companies said their operations have not been officially suspended.
“We have full confidence in the Egyptian judicial system and should any verdict be reached against the ride-hailing industry, we will follow the requisite judicial procedures available under Egyptian Law,” said Careem in a statement to Arab News. “For now, we will continue as business as usual.”


Iran falls to sixth biggest oil supplier to India as sanctions bite

Updated 14 December 2018
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Iran falls to sixth biggest oil supplier to India as sanctions bite

  • Tehran dropped two places to become only the sixth biggest supplier after New Delhi cut purchases due to the impact of US sanctions
  • The UAE, which was the sixth biggest oil seller to India in October, became the third-top seller to India in November

NEW DELHI: India’s monthly oil imports from Iran plunged to their lowest in a year in November with Tehran dropping two places to become only the sixth biggest supplier after New Delhi cut purchases due to the impact of US sanctions, according to ship tracking data and industry sources.
Last month, the US introduced tough sanctions aimed at crippling Iran’s oil revenue-dependent economy. Washington did, though, give a six-month waiver from sanctions to eight nations, including India, and allowed them to import some Iranian oil.
India is restricted to buying 1.25 million tons per month, or about 300,000 barrels per day (bpd).
In November, India imported about 276,000 bpd of Iranian oil, a decline of about 41 percent from October and about 4 percent more than the year-ago month, ship tracking data obtained from shipping and trade sources showed.
After abandoning the 2015 Iran nuclear deal, US President Donald Trump is trying to force Tehran to quash not only its nuclear ambitions and its ballistic missile program but its support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East.
India’s imports from Iran in November, included some parcels that were loaded in October. In November, Iraq and Saudi Arabia continued to be the top-two oil sellers to India.
The UAE, which was the sixth biggest oil seller to India in October, became the third-top seller to India in November, knocking down Venezuela to fourth position.