Mumbai Taxi Drivers Take Uber-Ola Head On; Launch Own App

Bart Eshwar

Mumbai taxi drivers haven’t been the biggest fans of cab hailing companies Uber and Ola. Seeing their business slip away from beneath their feet, they’ve resorted to protests, strikes, and political posturing to get these companies out of Mumbai. But their efforts have been in vain – consumers have responded with their feet, and Ola and Uber have made rapid inroads into the city.

But now Mumbai’s iconic “kaali-peeli” taxi owners are trying to take on cab hailing startups at their own game.

More Than 1000 Ola Drivers Protest In Bangalore

Bart Eshwar

Over a 1000 Ola drivers protested against the company in Bangalore yesterday. The drivers alleged that they hadn’t been paid the incentives they’d been promised for driving over New Years’. They also were unhappy that the money that had been deducted from their accounts towards the payment of their car loans had not reached the banks.

World Bank Trims Global Growth Forecast For 2016 To 2.9%

Navin Bhatia

According to the latest World Bank (WB) forecast, the global economy is projected to grow by 2.9% in 2016. This is lower than the earlier forecast of 3.3% made in June 2015. WB has observed that simultaneous slowing of four of the largest emerging markets – Brazil, Russia, China, and South Africa – poses the risk of spillover effects for the rest of the world economy.