Careem to stop Oman operations from Feb.

Ride-hailing app Careem has decided to pull out of Oman due to tougher market conditions and regulatory challenges.

A spokesperson of the Dubai-based company, which was taken over by its bigger rival Uber, confirmed to source that the company has decided to discontinue operations from next month.

"Careem decided to discontinue operating in Oman due to the absence of the regulatory factors that provide us with a healthy investment environment. The decision came after an in-depth study and analysis of the market and expected future conditions," the spokesperson said in a statement.

"This decision...