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SINGAPORE (AFP) — Southeast Asian ride-hailing firm Grab said on Wednesday it has secured $1.5 billion in fresh financing from a fund run by Japan’s SoftBank and will use a significant portion of it to expand in Indonesia. Grab has seen its business grow rapidly since it bought US-based rival Uber’s regional ride-hailing and food business in March last year. Uber received a 27.5 percent stake in Grab in return. The fresh investment from the […]
(Eagle News) — The Philippine Competition Commission has ordered ride-hailing service Uber to continue operating its app pending the PCC’s review of the Uber-Grab deal. “The PCC believes that Uber is capable of operating its ride-hailing app in the country, despite its claims that it has already exited the Southeast Asia market,” PCC Chair Arsenio Balisacan said in a statement. According to Balisacan, while Uber was “highlighting the exit,” it “does not emphasize enough its […]
(Eagle News) – The Land Transportation Franchising and Regulatory Board announced that there are three more applicants for Transport Network Vehicle Service (TNVS) which have already signified their intention to enter the ride-hailing system as possible competitors of Grab, which has taken over its previous major competitor, Uber. LTFRB Board Member Atty. Aileen Lizada said that the three TNVS applicants have already submitted their papers. “Nag-apply na po sila. They have already submitted their […]
