An employee of Careem talks during a training session for new female drivers at their Saudi Arabia office in Khobar City. Schroeder says that as an investor, he is encouraged by what this will mean for current valuations. AFP
An employee of Careem talks during a training session for new female drivers at their Saudi Arabia office in Khobar City. Schroeder says that as an investor, he is encouraged by what this will mean foShow more

UAE's Careem announces plan to hire 20,000 women drivers



The UAE ride-hailing app Careem will hire almost 20,000 women drivers across the Middle East in the next two years to meet growing demand.

Ahead of International Women's Day on Thursday, the company said it will increase the number of female 'captains' – the company's term to describe drivers – in the 13-countries it operates in from the present strength of 500.

"We realise that up until today we have focused our efforts predominantly on attracting and catering to male captains. It's time for us and the entire industry to wake up," said Mudassir Sheikha, co-founder and chief executive.

"Not only is there a moral obligation to do so, but there’s also a huge opportunity to grow our business around women and give them the economic opportunity to excel. Women are often the primary breadwinners and looking for alternative, flexible ways to support their families.”

Careem has women captains in UAE, Egypt, Pakistan, Jordan, Morocco, Lebanon, and Palestine.

Despite the societal stereotype of driving being associated only with men, Pakistan leads in the numbers for the female fleet and sees captains signed up to drive bikes and rickshaws as well as cars.

After the announcement in Saudi Arabia in September that women would be allowed to drive, Careem registered more than 2,000 women across Riyadh, Jeddah and Dammam.

With a female-only call centre operational in Jeddah, Careem will look to launch a female-only training centre in the Kingdom later this year with specialised training materials and women coaches.

Careem said a 'women captains' committee' will look at how to boost recruitment and the experience of women drivers.

The company added in a news release that "in light of the ongoing instability in certain areas of the region, heightened safety and security measures will be put in place to keep female captains safe".

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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5

Name: Brendalle Belaza

From: Crossing Rubber, Philippines

Arrived in the UAE: 2007

Favourite place in Abu Dhabi: NYUAD campus

Favourite photography style: Street photography

Favourite book: Harry Potter

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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Engine: 80 kWh four-wheel-drive

Transmission: eight-speed automatic

Power: 402bhp

Torque: 760Nm

Price: From Dh280,000

Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

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UAE currency: the story behind the money in your pockets

Company profile

Name: GiftBag.ae

Based: Dubai

Founded: 2011

Number of employees: 4

Sector: E-commerce

Funding: Self-funded to date

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Specs

Price, base: Dhs850,000
Engine: 3.9-litre twin-turbo V8
Transmission: Seven-speed automatic
Power: 591bhp @ 7,500rpm
Torque: 760Nm @ 3,000rpm
Fuel economy, combined: 11.3L / 100km

The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

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SPECS
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The more serious side of specialty coffee

While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.

The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.

Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”

One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.

Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms. 

What is an ETF?

An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.

There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.

The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.

There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.

While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash. 

THE SPECS

Engine: Four-cylinder 2.5-litre

Transmission: Seven-speed auto

Power: 165hp

Torque: 241Nm

Price: Dh99,900 to Dh134,000

On sale: now

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
COMPANY%20PROFILE
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The Penguin

Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz

Creator: Lauren LeFranc

Rating: 4/5


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