7/17/2017, 7:43 AM (Source: TeleTrader)
more TeleTrader news

Uber leaves Macau, bitter over regulatory struggle

By suspending operations in the previous Portuguese territory in China, Uber Technologies Inc. is hoping to secure space for talks with authorities in the gambling mecca. The ride-hailing giant said on Monday that its activity in Macau will "temporarily" cease on July 22, while that neighboring Hong Kong won't be affected.

Uber revealed it would like to engage in "constructive dialogue" with the aim to resume of its transportation system operations. Preliminary talks are underway with corporate entities including hotels, it said. The company based in San Francisco has struggled with regulators for nearly two years, but it failed to secure appropriate permits. Its efforts to get decision makers to adapt the framework were fruitless. It has also ran into barriers in Hong Kong.

Baha Breaking News (BBN) / IT