Uber to hail down $3.5bn from Saudis to destroy rivals

Saudi Arabia is not all that fond of competition — the kingdom has long reaped rich reward from its Opec membership.

And recently, it decided that pesky US shale oil drillers should be killed off by driving oil prices lower.

Now, Saudi’s sovereign wealth fund is investing $3.5bn (€3.1bn) in Uber Technologies.