Following fuel hike, Uber and Careem increase fares in Egypt ...Egypt

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Ride-sharing companies Uber and Careem announced an increase trip rates starting Tuesday, in response to the Egyptian cabinet’s decision to increase fuel prices in April. The average increase in fares amounts to 25 piasters to open the meter and an additional 15 piasters per square kilometer. Uber acquired Careem in January of 2020 for US$3.1 billion. According to the deal, Careem was to maintain its brand and provide services independently of Uber. However, the two services offer the same rates for rides. Private car pricing The base fee for both services when opening the meter went from LE7.25 to LE7.50. The price per kilometer has increased from 270 to 285 piasters, and the cost-per-minut

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