Tag: Uber

Grab, Uber Slapped with $9.5 Million Fine in Singapore

Grab, Uber Slapped with $9.5 Million Fine in Singapore

The Competition and Consumer Commission of Singapore (CCCS) handed Grab and Uber this week a fine of $9.5 million for its merger deal and ordered Uber to sell cars from its Singaporean leasing business to another rival. CCCS Chief Executive Toh Han Li said that mergers that substantially lessen competition are prohibited and the watchdog took action against Grab and Uber merger because the deal eliminated Grab’s closest rival. Grab was also ordered to revert to its pre-merger driver commission rates and pricing algorithm which charged around 5 percent less. Source: Reuters

Toyota to Put $500 Million in Driverless Cars Deal with Uber

Toyota to Put $500 Million in Driverless Cars Deal with Uber

Toyota announced this week that it will be investing $500 million in a deal with Uber to pursue the development of self-driving cars. In a press release, the firms said that they will be mass producing autonomous vehicles that would be deployed on Uber’s network. It is said that the companies, both seen as lagging in the development of the technology, will be embarking on the deal to catch up with their rivals, with Uber recently scaling back trials of its self-driving technology after a crash in Arizona resulted to a fatality.      Source: BBC

Argentinian Province First to Pass Law Allowing Uber

Argentinian Province First to Pass Law Allowing Uber

Argentina’s Mendoza province last Tuesday passed the country’s first law regulating ride-sharing apps such as Uber. Uber had already been operating in Buenos Aires for more than two years despite prevailing court orders. However, Argentina’s Senate recently voted 24-14 in favor of allowing the firm to operate in the country’s fifth-largest province by population. Uber’s general manager for the southern cone region of South America, Mariano Otero, says that the law will take effect in August, allowing Uber to operate as early as September.   Source: Reuters

Grab Challenges Singapore Watchdog’s Assessment of Uber Buyout

Grab Challenges Singapore Watchdog’s Assessment of Uber Buyout

Grab said last Friday that it disagrees with the Competition and Consumer Commission of Singapore’s assessment of its takeover deal with Uber, calling the watchdog’s decision a “double standard that goes against the spirit of increasing choices for drivers and riders.” The CCCS said in July that the Grab-Uber deal had harmed competition and pushed for the sale of Grab’s car-leasing businesses, as well as removing exclusivity obligations on drivers who use Grab’s ride-hailing platform. The antitrust body also proposed penalties for both firms. It is said that watchdog’s final decision could set a precedent that may affect other markets […]

Singapore Wants Fines for Grab, Uber for Harming Competition

Singapore Wants Fines for Grab, Uber for Harming Competition

The Competition and Consumer Commission of Singapore (CCCS) revealed this week that it wants to fine Grab and Uber, saying that the merger of the two ride-hailing firms resulted in reduced competition. The CCCS proposed several remedies, such as the sale of their car-leasing business. However, the reversal of the merger, should both companies not be able to fulfill the remedies, may no longer be an option as Uber had already exited the market. The commission said last Thursday that Uber and Grab need to be penalized since they carried out the deal despite knowing the anticipated potential competition concerns. […]

Uber India President Promoted to Head of APAC Operations

Uber India President Promoted to Head of APAC Operations

Ride-hailing giant Uber announced this week that the president of its India unit Amit Jain has been selected to lead the company’s business in the Asia Pacific region. Jain will be put in charge of operations in Australia, New Zealand, Japan, Hong Kong and India after the firm has sold its Southeast Asian business to Grab Holdings. It is further speculated that a similar merger will take place in India, one of Uber’s fastest growing markets, with local rival Ola. Source: Reuters

Uber to Give Drivers New Protections

Uber to Give Drivers New Protections

Uber announced this week that it will be giving its drivers additional coverage and compensations such as sick leaves, parental leaves, and bereavement payments. CEO Dara Khosrowshahi said that the company had “focused too much on growth and not enough on the people who made that growth possible”, adding that Uber called drivers “partners” but didn’t always act like one to them. However, unions have questioned the new protections that will be made available to all Uber drivers and Uber Eats delivery couriers across Europe, saying that a similar injury and illness insurance had been offered by the company in […]

Vietnam Mulls Formal Antitrust Investigation Into Grab-Uber Deal

Vietnam Mulls Formal Antitrust Investigation Into Grab-Uber Deal

Last Wednesday, Vietnam’s trade ministry said that it may launch a formal investigation into Grab’s acquisition of Uber’s Southeast Asia business, stressing that the transaction could be blocked since an initial probe found that the combined market share of both ride-hailing firms in Vietnam was over 50% percent, as per the nation’s law. It is unclear what kind of impact Vietnam’s move will have on the deal, which is already being scrutinized by other countries such as Singapore, the Philippines, and Malaysia. However, lawyers and analysts say that there is little that can be done to stop Uber from leaving […]

Grab Philippines Eyes Cancellation Fees for Riders

Grab Philippines Eyes Cancellation Fees for Riders

In a media briefing last Tuesday, Grab Philippines marketing head Cindy Toh revealed that the company is considering a cancellation fee for riders that may be rolled out within the next 100 days. Toh said that the solution, which was similar to what Uber had, was prompted by their data which showed that around 12% of riders cancel their rides, as opposed to 8% of drivers. However, Grab says it has yet to determine how much the fee will be, and how to implement it for riders who pay in cash. Source: Rappler

India’s Ride-Hailing Jugnoo to Enter Singapore Next Month

India’s Ride-Hailing Jugnoo to Enter Singapore Next Month

Jugnoo’s chief executive Samar Singla said last Wednesday that the firm is looking to occupy the gap left by Uber in Singapore as soon as next month. The Indian ride-hailing company will be offering a private car-based service in the city-state with its app that allows riders to choose from drivers’ competing bids on fares. Once it enters the market, Jugnoo will take a 10% commission from drivers only after operating for 6 months. It was noted that even though there is a low entry barrier for ride-hailing companies in Southeast Asia, the entrants will need to scale quickly to […]