A number of Uber and other drivers are jamming a central artery in Madrid to object the plan by Government of Spain to accept new regulations restricting the process of ride-hailing app-based services. The employees, who work for firms including Cabify and Uber, conveyed traffic to a standstill in the Paseo de la Castellana this week as they shifted slowly toward the entrance to the Development Ministry.
They plan to echo their protest again soon, when the government is likely to pass a ruling giving domestic governments the authority to restrict licenses for the ride-hailing offerings. This week, the firms provided free rides in various cities of Spain. The decision additionally angered unions of taxi driver that have been asking for a ratio of 30 public taxis to one ride-hailing car.
Speaking of Uber, Grab’s acquirement for Southeast Asia business of Uber in May 2018 has been mixed up in regulatory inspection. But the ride-hailing company has some good news after the Philippines’ watchdog gave the agreement a green nod. It did so, although, while laying out conditions to avoid the firm from turning into excessively dominant.
Singapore’s regulator claimed in July 2018 that rivalry concerns might see it slow down the agreement, which witnessed Grab pick up and then close Uber’s food delivery and ride-hailing business. The U.S. company got a 27.5% stake. Rivalry is also a worry in the Philippines, but the PCC (Philippine Competition Commission) ruled this week that Grab will bow to “pricing and service quality standards” so as to guarantee that users are treated justly.
The Philippines and Singapore have been the staunchest watchdogs of the agreement, so this week’s news is a noteworthy boost for Grab, which lately lifted $2 Billion in funding from a series of investors including Toyota.