Uber expanding its services to Asia

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    UPDATE: Exclusive reports from India brought in news of Uber Technologies Inc. to have cut charges by 22% in 10 non-metro cities including Pune and Ahmedabad – to intensify *competition with domestic rival, Ola. It will now charge a base cost of INDR 25 instead of INDR 40 in Udaipur and Jodhpur. Also, the per kilometer charges have been reduced to INDR 7.0 from INDR 8.0.

    “With even more affordable fares, we believe Uber can be a viable alternative to people driving their own cars with all the hassle and cost that parking brings.” – UberGO

    (*Bengaluru-based rival had launched Micro. With its affordable charging service, i.e INDR 6.0/kilometer, it claims to soon take over Uber’s customers)

    WEDNESDAY: Apps like Go-Jek and Grab are probably going to give tough rivalry to Uber which has brought its motorcycle-taxi hailing service to Indonesia, this week. After Thailand and India, it is world’s third country to avail riding giant’s **services.

    (**Mode of transaction can also be via credit card payment)

    The popularity of motorbikes and regular taxis ordered from smartphones has provoked a backlash in the taxi industry. For users, they can avail this service by choosing uberMotor in Uber’s mobile App. A motorcycle driver then picks them up and makes it easy for them to reach their destinations.

    INSIGHT: Motorcycle taxis are common in the country as they can move easily within crowed traffic-of the capital, Jakarta. The city’s official data has revealed approximate economic losses worth $3 billion on annual scale.

    UberMotor service is certain to provide cheap, reliable transportation for hundreds of thousands of people. It offers charges worth 1,000 rupiah/kilometer (7 cents/km); lower than those from its rival motorbike services, whose minimum charges are 12,000 rupiah/kilometer, (91 cents/km) and 10,000 rupiah/kilometer (76 cents/km).

     

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    Javier Davis produces news on stocks, currencies, bonds, commodities, and real estate. His in-depth research covers most of the major financial markets in America, Europe, and Asia. His research is based on the interconnected relationships among economic and technical factors that drive valuations in the markets, with an emphasis on how to formulate investment strategies. From interest rates to inflation to economic growth and much more, the fundamental concepts presented on this website provide an essential foundation of knowledge for investors to profit in stocks, bonds, commodities, currencies, and real estate markets.

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