Daily Business Wrap - Emirati drivers to operate on Uber & Careem - video Dailymotion

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Transcript

00:00Good afternoon and welcome to the Golf News Business Wrap. I'm Ed Clowes and today is

00:05November 19th. Our top story today is Kareem and Uber have launched new services in Abu

00:10Dhabi allowing MRT drivers to operate on their platforms at the same price as standard taxis.

00:18The move ends a two year long dispute between the companies and the government of Abu Dhabi

00:23which meant that their services were priced significantly higher than regular taxis to

00:27avoid them undercutting the government owned services. MRTs will be allowed to participate

00:33on the platform from today, Monday, as long as they are over 23 and have been driving

00:38for five years. As I said the price will be the same as regular taxis. Separately, Uber

00:44announced that they would be returning to Abu Dhabi after a two year hiatus. Kareem

00:49announced earlier this year that they were back in the capital. Elsewhere in the global

00:52markets Asia was green. Small trading volumes but overall a positive. Xi Jinping, the President

01:00of China and Vice President Mike Pence of the US failed to reach an agreement at the

01:05Asian Pacific Economic Summit in Asia this week meaning that US futures may open down

01:12on Monday morning. And lastly, oil has enjoyed its fourth successive day of growth. It's

01:18now trading at around $67 a barrel on the prospect of further cuts from Saudi Arabia

01:24who may be expected to convince OPEC, the oil producing cartel, to also go along with

01:31further cuts into 2019. Russia is uncertain yet but they may also be brought along which

01:37would further see the glut of oil reduced on the market. Those are your headlines for

01:43today. I'm Ed Clouse. Join us again tomorrow. Thanks very much for watching.