Skip to content
Search AI Powered

Latest Stories

INDIAN CAB SERVICE PROVIDER OLA TO START ITS OPERATION IN BRITAIN

INDIAN ride-hailing company Ola announced on Tuesday that it is to launch services in Britain, expanding its foray abroad and intensifying its battle with US rival Uber.

Britain will be Ola's second venture into a foreign market after it started operations in Australia in February.


Ola said in a statement that it had obtained licenses to operate in South Wales and Greater Manchester.

It said it would start the South Wales operations within the next month and was inviting private vehicle owners and taxi drivers to partner with it.

"Ola is excited to announce its plans for the UK, one of the world's most evolved transportation markets," co-founder Bhavish Aggarwal said in the press release.

Ola plans to expand its services across Britain, where Uber already has a presence, by the end of the year, the company added.

Ola was launched in 2011 and claims to handle around a billion rides a year across India's major centres and seven cities in Australia.

Ride-hailing apps are booming in India despite stiff opposition from traditional taxi firms and some initial concerns about passenger safety.

Ola and Uber are locked in an aggressive fight for a greater share of India's taxi-app market, which is estimated to be worth around $10 billion.

Both companies are backed by Japan's SoftBank Group and recently ventured into the food delivery business, further intensifying their rivalry.

More For You

uk-rich-getty

Two men speak together as they cross over a footbridge in London's central business district of Canary Wharf. (Photo: Getty Images)

One millionaire leaves UK every 45 minutes, study finds

A RECORD number of millionaires have left the country since Labour took office, with concerns mounting over the party’s tax policies.

A study by New World Wealth and Henley & Partners revealed that Britain lost a net 10,800 millionaires in 2024, marking a 157 per cent rise from the previous year.

Keep ReadingShow less
UK to lead European growth in 2025, predicts IMF

FILE PHOTO: A view of the Bank of England and the financial district, in London, Britain. REUTERS/Mina Kim.

UK to lead European growth in 2025, predicts IMF

BRITAIN is set to have the fastest growth among major European economies this year, according to the International Monetary Fund, a boost to finance minister Rachel Reeves who is under pressure over a slowdown since her party came to power in July.

The IMF has raised its forecast for British growth for 2025 by 0.1 percentage points to 1.6 per cent, making it the third-strongest among the Group of Seven advanced economies after the US and Canada.

Keep ReadingShow less
Reliance Industries

Revenue from operations rose 6.97 per cent year-on-year to £22.99 bn, with growth seen across all divisions. (Photo: Reuters)

REUTERS

Reliance Industries reports 7.38 per cent rise in quarterly profit

RELIANCE INDUSTRIES reported a 7.38 per cent year-on-year increase in profit for the December quarter on Thursday, driven by growth in its consumer-focused divisions.

The company, led by Mukesh Ambani, remains India’s most valuable by market capitalisation.

Keep ReadingShow less
India faces growth challenge
as global uncertainty mounts

Narendra Modi (left) and Nirmala Sitaraman

India faces growth challenge as global uncertainty mounts

AFTER world-beating economic growth last year, India’s policymakers are scrambling to prevent a sharp slowdown as worsening global conditions and declining domestic confidence undo a recent stock market rally.

Last Tuesday (7), Asia’s third-largest economy forecast 6.4 per cent annual growth for the fiscal year ending in March, the slowest in four years and below initial projections, weighed down by weaker investment and manufacturing.

Keep ReadingShow less
Tata Consultancy sees 5.6 per cent rise in revenue despite market challenges

Chief executive and managing director of TCS K Krithivasan

Tata Consultancy sees 5.6 per cent rise in revenue despite market challenges

INDIAN IT giant Tata Consultancy Services (TCS) posted a 5.6 per cent on-year rise in revenue for the December quarter last Thursday (9), after lower earnings in its key North American market.

The leader of India’s $254 billion (£208.4bn) IT sector, TCS is the second-largest company in India by market capitalisation and earns over 80 per cent of its revenue from Western clients.

Keep ReadingShow less