New York moves to cap Uber, app-ride

New York moves to cap Uber, app-ride

New York : New York’s city council on Wednesday dealt a blow to Uber and other car-for-hire companies, passing a bill to cap the number of vehicles they operate and impose minimum pay standards on drivers. It makes New York the first major US city to limit the number of app-based rides and to impose pay rules, with authorities under pressure to act over pollution and worsening congestion.

The financial capital of 8.5 million is the biggest app-ride market in the United States, where public transport woes and astronomical parking costs have helped fuel years of untamed growth by the likes of Lyft and Uber. But that growth has brought New York’s iconic yellow cabs to their knees and since December, six yellow-cab drivers have committed suicide. Those deaths have been linked to desperation over plummeting income. The increased competition has slashed the value of yellow cab taxi licenses from more than $1 million in 2014 to less than $200,000 today. The bill stipulates a 12-month cap on all new for-hire-vehicle licenses, unless they are wheelchair accessible, as well as minimum pay requirements for app drivers -- regulated by the Taxi and Limousine Commission.

The TLC, which regulates taxis and is a powerful force in New York politics, commissioned a study recently in a bid to underscore the chaos and push city authorities into taking action. That report recommended a guaranteed income of $17.22 an hour for drivers -- the city’s $15 minimum wage is due to come into effect at the end of 2018 -- plus a supplement to mitigate against rest time. Uber hit back Wednesday, saying the 12-month pause would threaten one of the city’s “few reliable transportation options” -- a swipe at a burgeoning subway crisis -- “while doing nothing to fix the subways or ease congestion.” “Uber will do whatever it takes to keep up with growing demand and we will not stop working with city and state leaders... to pass real solutions like comprehensive congestion pricing,” a spokesperson said.




Sri Lanka reverses $300m housing deal

Sri Lanka reverses $300m housing deal

Sri Lanka has reversed a decision to award a $300-million housing deal to China in favour of a joint venture with an Indian company, the government said, ahead of a visit by the prime minister to its South Asian neighbour.

IMTA opens new showroom for Mazda

IMTA opens new showroom for Mazda

International Motor Trading Agency (IMTA), the preferred distributor for Mazda passenger vehicles in Bahrain, has officially opened a brand-new Mazda showroom. The new state-of-the-art facility is spread over 3,753.00 Sq. Mt. and offer

Sun, Seas and sand

Sun, Seas and sand

Mesmerizing blue seas and pristine white sands are taking the guest experience to new heights at Four Seasons Hotel Bahrain Bay, following the launch of The Beach. Curving along the private island’s sun-drenched southern shore, t

NBB profits rise 11.3pc

NBB profits rise 11.3pc

The National Bank of Bahrain (NBB) yesterday announced recording a solid double-digit growth in its profitability for the first nine months of 2018, supported mainly by its “more prudent asset liabilities management” skills


Sri Lanka reverses $300m housing deal

Sri Lanka reverses $300m housing deal

Sri Lanka has reversed a decision to award a $300-million housing deal to China in favour of a joint venture with an Indian company, the government said, ahead of a visit by the prime minister to its South Asian neighbour.