The southern Indian state of Karnataka kept the door open on Saturday to talks w...
BENGALURU - The southern Indian state of Karnataka kept the door open on Saturday to talks with local ride-hailing service Ola to avoid a ban that could help rival Uber build market share.
Karnataka earlier this week issued a notice to suspend Ola’s license for six months for violating government rules by running motorcycle taxis which are not allowed for safety reasons.V. P. Ikkeri, state commissioner for transport and road safety, told reporters the department had seized and issued fines for about 258 bikes during a probe after complaints.
“It’s a temporary suspension and if they give us a satisfactory response, then we won’t need to implement the ban,” Ikkeri said, adding that Ola would face financial penalties.It could lose out badly to Uber if pushed out of the market for an extended period. “Assuming the top three markets contribute to roughly 35-40 percent of Ola’s revenues, if the ban is upheld, we could be looking at a 5-10 percent revenue hit to the company.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
India state banks want Jet Airways' Goyal to reduce stake to 10 percent: CNBC-TV18A group of Indian state-run banks want Jet Airways' embattled founder and C...
Read more »
Exclusive: Mexico central bank says Uber, other firms interested in mobile pay systemVarious companies in Mexico, including Uber Technologies Inc., have shown intere...
Read more »
Riding with 'Uncle Diego': Uber’s wild drive for growth in ChileThe Uber driver pulled up to the international airport outside Chile's capi...
Read more »
Taxi-hailing firm Gett will reportedly file for IPO this yearRivals Uber and Lyft are also both expected to float their business in 2019.
Read more »
Two die in clashes outside Vedanta's Indian alumina refineryA protester and a policeman died in clashes outside Vedanta Ltd's eastern I...
Read more »
Uber and Lyft, side-by-sideThe side-by-side 2018 financials show that while Uber's massive size dwarfs its chief U.S. competitor, Lyft enjoys faster growth. Both companies suffer big losses, although Uber has taken steps to slow its losses while Lyft's continue to widen.The side-by-side 2018 financials show that while Uber's massive size dwarfs its chief U.S. competitor, Lyft enjoys faster growth. Both companies suffer big losses, although Uber has taken steps to slow its losses while Lyft's continue to widen.
Read more »
Canadian teen Andreescu topples Kerber to win Indian Wells WTA titleBianca Andreescu upset three-time major champion Angelique Kerber 6-4, 3-6, 6-4 to win the BNP Paribas Open, becoming at age 18 the first wild-card winner in tournament history.
Read more »
Teenager Andreescu stuns Kerber to win Indian Wells titleCanadian teenager Bianca Andreescu stunned three-times Grand Slam champion Angel...
Read more »
Thiem tops Federer to win Indian Wells titleDominic Thiem claimed his first Masters 1000 title after coming from a set down ...
Read more »