Skip to content 
Search

Latest Stories

India’s Ola eyes low fares to crack London taxi market

IN A bid to dominate London’s competitive taxi-hailing market, Indian firm Ola is moving ahead with its plans for a price war.

Ola expects that it can snap the business by offering its services at lower prices than other online taxi service providers such as Kapten, Bolt, Uber, and others, who are facing stiff competition in the British capital.


The Softbank-backed South Asian company is expected to benefit from the recent problems of Uber.

In the latest development, the American company submitted an appeal last week against a decision by the London's transport regulator, Transport for London (TfL), to cancel the taxi app of its right to operate in the British capital.

The latest move by Uber is expected to pave way for a potentially lengthy legal process.

Ola has yet to announce its plans on how much it will charge drivers.

However, for the first 60 days, the company, founded by Bhavish Aggarwal, 34, will waive commissions, which is expected to beat its competitors in the British capital, according to the company.

Simon Smith, managing director at Ola’s operations outside Europe, was quoted by The Times: “In London, we’ll offer drivers the best deals in the market. There will be enough cars so that customers get at least as good a service as they do with the incumbents.”

Ola hopes that it can generate profits in London, despite the stiff competition among the increasing number of taxi-hailing apps.

Smith further added: “As long as we launch aggressively, we’re confident we can get there (break-even) quickly. That is what we’ve seen in other markets. At a significant market share, this industry supports break-even operations.”

Founded in 2010, Ola is India’s one of the best-funded technology businesses. Indian business tycoon Ratan Tata, Softbank, and Tencent have pumped investment into the company.

According to media reports, Ola has raised over $2.6 billion and is valued at about $6.5bn.

The upstart is aiming for a stock market float in 2021.

It operates in more than 250 cities worldwide, including 200 in India and 33 in Australia and New Zealand, and over two million drivers use its platform.

The Indian firm was launched in the UK in 2018 and has over 10,000 drivers in Cardiff, Birmingham, Reading, Exeter, and Coventry.

More For You

Bangladesh seeks US deal to shield garment industry from tariffs

Workers are engaged at their sewing stations in a garment factory in Savar, on the outskirts of Dhaka, on April 9, 2025. (Photo by MUNIR UZ ZAMAN/AFP via Getty Images)

Bangladesh seeks US deal to shield garment industry from tariffs

BANGLADESH, the world's second-biggest garment manufacturer, aims to strike a trade deal with the US before Donald Trump's punishing tariffs kick in next week, said the country's top commerce official.

Dhaka is proposing to buy Boeing planes and boost imports of US wheat, cotton and oil in a bid to reduce the trade deficit, which Trump used as the reason for imposing painful levies in his "Liberation Day" announcement.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Bond yields ease following Starmer’s support for Reeves

THE COST of UK government borrowing fell on Thursday, partially reversing the rise seen after Chancellor Rachel Reeves became emotional during Prime Minister’s Questions.

The yield on 10-year government bonds dropped to 4.55 per cent, down from 4.61 per cent the previous day. The pound also recovered slightly to $1.3668 (around £1.00), though it did not regain all its earlier losses.

Keep ReadingShow less
modi-trump-getty
Modi shakes hands with Trump before a meeting at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Indian exporters watch closely as Trump says trade deal with India likely

THE US could reach a trade deal with India that would help American companies compete more easily in the Indian market and reduce tariff rates, President Donald Trump said on Tuesday. However, he cast doubt on a similar deal with Japan.

Speaking to reporters on Air Force One, Trump said he believed India was ready to lower trade barriers, potentially paving the way for an agreement that would avoid the 26 per cent tariff rate he had announced on April 2 and paused until July 9.

Keep ReadingShow less
Kolhapuri sandal sales surge in India post Prada controversy

Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi

Kolhapuri sandal sales surge in India post Prada controversy

INDIAN footwear sellers and artisans are tapping into nationalist pride stoked by the Prada 'sandal scandal' in a bid to boost sales of ethnic slippers with history dating back to the 12th century, raising hopes of reviving a struggling craft.

Sales are surging over the past week for the 'Kolhapuri' sandals that have garnered global attention after Prada sparked a controversy by showcasing similar designs in Milan, without initially crediting the footwear's origins.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy grew 0.7 per cent in Q1 2025, fastest in a year

THE UK economy expanded at its fastest pace in a year during the first quarter of 2025, driven by a rise in home purchases ahead of a tax deadline and higher manufacturing output before the introduction of new US import tariffs.

Gross domestic product rose by 0.7 per cent in the January-to-March period, the Office for National Statistics (ONS) said, confirming its earlier estimate. This was the strongest quarterly growth since the first quarter of 2024.

Keep ReadingShow less