Karnataka for policy changes in tune with emerging biz
The Dollar Business Bureau Amid a legal fight against the latest norms by the state for app-based taxi-aggregators, Priyank Kharge, IT Minister of Karnataka said on Sunday that these firms should follow the norms but also pitched for policy changes in line with emerging businesses such as e-commerce. “There are certain laws that need to be followed. If you are a facilitator or an aggregator, and if you are making money from that platform, you are responsible for safeguarding passengers or customers,” Kharge told PTI in Bengaluru while responding to a query on how state government would address the concerns raised by the companies.The Minister, however, said that the central as well as state governments should change their present policies and ...
India ranks 2nd in global cab service market: Uber
Sharath Chowdary India stands second in the global taxi service market. This was revealed by Uber Asia Head of Business, Eric Alexander, when speaking to the media at an event organised in Hyderabad on Thursday. “The country ranks second, next only to China, in the international cab service market. Compared to other countries, we see faster growth in India. That is why we are investing heavily in this country,” he said speaking to The Dollar Business Bureau. Last year, Uber had committed to invest $1 billion for expansion in India. This year in February, it opened a Centre of Excellence (CoE) in Hyderabad as a part of its commitment to invest $50 million in Telangana. In March, the company has inaugurated an Engineering Centre ...
Apple invests $1 bn in China's taxi hailing app Didi
PTI US tech giant Apple has raised its stakes in China by investing $1 billion in ride hailing app Didi Chuxin, the single largest investment received by the Chinese cab-service company. Didi said that it has received $1 billion in strategic investment from Apple. The investment from Apple is the single largest investment Didi has ever received. The investment is considered significant as Didi rivals US taxi hailing app Uber, state-run China Daily reported. Apple is among a group of Chinese and international institutions that are bankrolling Didi's ambitious expansion plan in its latest fundraising round. Through this investment, Apple has become a strategic investor in Didi, and joins Tencent, Alibaba and other key supporters to help further Didi's mission of building a data-driven ride-sharing ...
