Page 25 - ATODAY

BUSINESS Monday 19 deceMber 2016
A25
Saudi Telecom Co. Uncertainty about Cabela’s jobs

buys stake in riding- weighs on hometown economy

hailing app Careem

DUBAI, United Arab Emir- which began operations
ates (AP) — The Saudi in July 2012, operates in 11
Telecom Co. has bought countries across the Mid-
a 10-percent stake in the east.
ride-hailing app Careem, This is yet another big invest-
which is a Mideast com- ment in ride-hailing apps
petitor of Uber. for Saudi Arabia, an ultra-
The largely state-owned conservative Sunni-ruled
communication firm an- kingdom where women
nounced Sunday in a stock are not allowed to drive.
exchange filing it bought In June, the oil-rich nation’s
the stake for $100 million. sovereign investment fund
Saudi Telecom Co. said the announced it would invest
purchase is “in line with the $3.5 billion into San Francis-
company strategy to invest co-based Uber. Uber has
in the innovative digital said 80 percent of its pas-
world.” sengers in Saudi Arabia are
Dubai-based Careem, women.q
Etihad Airways,

citing competition, Buttons are handed out before United Steelworkers Local 1999 President Chuck Jones speaks dur-
ing a news conference Friday, Dec. 9, 2016, in Indianapolis.
Associated Press
announces layoffs OMAHA, Neb. (AP) — All la’s Cafe in Sidney told the Brandin’ Iron Bar, accord-

la’s future in its Western Ne-
DUBAI, United Arab Emir- Etihad spokesman Updesh the questions about Cabe- Omaha World-Herald. ing to the siblings who own
Bass Pro’s $4.5 billion deal it: Jennifer and Joey Gor-
ates (AP) — Abu Dhabi’s Kapur declined to offer braska hometown after its to buy Cabela’s is expect- man.
Etihad Airways, citing “an any specifics, though the planned merger with rival ed to close sometime next “A lot of people are afraid
increasingly competitive company’s statement de- Bass Pro Shops next year year. The companies have to do anything. Nobody
landscape,” says it is mak- scribed the layoffs as com- are taking a toll on the lo- said they plan to keep sig- has any certainty. That
ing an unspecified number ing “in a fair, structured cal economy. nificant operations in Sid- makes people not go out,
of layoffs. and transparent way.” Business owners in Sid- ney, but it’s not clear how not spend money,” said
The Abu Dhabi-owned Etihad has code-share ney are having a difficult many of the roughly 2,000 Jennifer Gorman, 37.
carrier, which is the United agreements with some 50 time since the sale was jobs there will be lost when City officials say they are
Arab Emirates’ national air- airlines and holds stakes in announced this fall, and the headquarters moves to preparing for the future by
line, made the announce- Air Berlin, Air Seychelles, Jet property values have plum- Bass Pro’s base in Spring- drafting a study to tout Sid-
ment Sunday night. Airways, Air Serbia, Alitalia meted because so many field, Missouri. ney’s strengths in the hope
An Etihad statement de- and Virgin Australia. It has homes are on the market in More than 100 homes are of attracting another com-
scribed the layoffs as “a a fleet of some 120 aircraft. the town of roughly 7,000. for sale in Sidney and few pany.
measured reduction of The UAE is also home to “Everybody is so on edge buyers are interested, so City leaders believe they
headcount in some parts the Dubai-based long-haul here, it’s unreal,” Wendy property values have tak- are in a strong position be-
of the business.” carrier Emirates.q Pemberton, who owns Del- en a hit. cause of the infrastructure
Business has slowed at and workforce they have
U.S. gas prices jump Dude’s Steakhouse and in place for Cabela’s. q

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