Uber halts decision to shift APAC headquarters from Singapore

By Akshay Kedari  Date: 2020-07-31

Uber halts decision to shift APAC headquarters from Singapore

Uber Technologies Inc., the American ride-hailing giant, has reportedly halted the company’s decision to relocate its Asia Pacific headquarters from Singapore to Hong Kong until December 2022.

Sources cite that the company’s decision was based on the lack of progress on ridesharing regulations in Hong Kong. The ride-hailing giant declined to comment on the security law introduced in China last month.

According to an official statement, the company claims that it has seen the enthusiasm and robust public support for reform, but not the level of certainty from the government that it needs, As time progresses, the firm will continue these efforts but, in the meantime, it seems to have decided to keep Singapore, the current country, as a regional hub for the medium term.

According to sources, Uber agreed to build employment and opportunities for Hong Kong in its earlier announcement in May, citing how well it was received in the city with a population that had used its services. The company has nearly 250,000 drivers and over 6,400 restaurants in the city involved in its food delivery program in Uber Eats.

Evidently, the overall outlook of the coronavirus pandemic does not look good on China. The nation is being blamed for the pandemic outbreak. National security and trust issues are looming over the nation due to recent Hong-Kong protests. Even other countries have blamed China for its inadequate handling of the Covid-19 outbreak. Overall, the trust factor of China is hanging low with the rest of the world.

With the virus affecting millions of people, companies and governments have decided to take their resources out of the world's second-largest economy. Consequently, China is currently facing a backlash from most of the countries in the world that may take away its position from being the world's preferred factory.

Source Credit -https://in.reuters.com/article/us-uber-singapore/uber-halts-move-of-apac-headquarters-from-singapore-to-hong-kong-idINKCN24V0Y0

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Mark Zuckerberg planning to rebrand Facebook to reflect metaverse focus

Mark Zuckerberg planning to rebrand Facebook to reflect metaverse focus

By Akshay Kedari

There have been many businesses that have rebranded themselves to alter their identity with time. Following the league, social networking giant Facebook is also reportedly planning to rebrand the firm with a new name. On October 28, Chief Executive ...

Formula One teams to test second-generation biofuel during 2022 season

Formula One teams to test second-generation biofuel during 2022 season

By Akshay Kedari

The leading motorsport intends to achieve net-zero carbon status by the end of this decade. F1 has ruled out switching to an all-electric powertrain such as in Formula E. With increasing significance towards green mobility, Formula One teams are...

Apple’s iPhone 13 production may take a hit due to global chip shortage

Apple’s iPhone 13 production may take a hit due to global chip shortage

By Akshay Kedari

Apple Inc. is likely to cut down production of its iPhone 13 model by approximately 10 million units on account of the global chip shortage. The American multinational technology company was previously expected to manufacture 90 million units of the ...

Israel's GoTo Global acquires German e-moped sharing platform emmy

Israel's GoTo Global acquires German e-moped sharing platform emmy

By Akshay Kedari

Israel-based multimodal vehicle sharing services provider GoTo Global Mobility Ltd. has reportedly acquired Germany’s shared e-scooter company emmy. The acquisition will allow GoTo Global to enter the German market as well as accelerate its Eur...

German airline Lufthansa adds four new planes to its A350 fleet

German airline Lufthansa adds four new planes to its A350 fleet

By Akshay Kedari

Deutsche Lufthansa AG recently revealed that it has agreed to take four new Airbus A350-900 long-haul passenger aircraft on lease, utilizing newer planes that are left grounded as airlines reorganize their balance sheets in the wake of the ...