'Absolute rubbish': Bhavish Aggarwal quashes reports of Ola's merger talks with Uber
India Today
Bhavish Aggarwal, the CEO of Ola Electric, has quashed reports about Ola's merger talks with Uber.
Bhavish Aggarwal, the CEO of Ola Electric, has quashed reports of merger talks with Uber and called the rumours "absolute rubbish". We’re very profitable and growing well, he said.
Taking to Twitter, Aggarwal said, "Absolute rubbish. We’re very profitable and growing well. If some other companies want to exit their business from India, they are welcome to! We will never merge."
According to Reuters, Uber has also denied reports of a merger. That report is inaccurate. We are not, nor have we been, in merger talks with Ola, Uber said in a statement.
The two Indian cab aggregators have been slugging it out in an intensely competitive Indian market and have spent billions in incentives and discounts to passengers.
Uber sold its local food delivery business Uber Eats to Zomato Ltd (ZOMT.NS) in January 2020, while Ola shut down its grocery delivery business and has of late invested billions of dollars in its electric vehicle venture, Ola Electric Mobility.
(With inputs from Reuters)
As of 10:26 am on MCX, gold futures were trading at Rs 1,37,307, down Rs 7,185 or 4.97%. Silver futures were at Rs 2,13,600, down Rs 13,172 or 5.81%.
The stock has seen a steep decline recently. In just two sessions, the share price fell from around Rs 843 to Rs 781 on the NSE, marking a drop of over 7%. After closing at Rs 781 on Friday, the stock is now only Rs 11 above its 52-week low of Rs 770.
As the war enters its fourth week, airlines are struggling to cope with a sharp rise in jet fuel prices, which have surged significantly in a short span of time. The impact is already visible for passengers, with ticket prices expected to rise in the coming months as airlines try to protect already thin profit margins.
The world is already feeling the heat as the West Asia conflict enters its fourth week, pushing global crude oil prices higher. In this article, we speak to experts to understand whether this shock could tip the world toward a recession.
The additional allocation will be subject to commercial establishments registering with oil companies and applying for a piped natural gas connection, according to a letter written by the oil secretary to states.
Civil Aviation Minister Ram Mohan Naidu said that the impact of the ongoing Iran war on the aviation sector is likely to be visible from April 1, when the Air Turbine Fuel (ATF) prices will be revised.
A new government directive on free seat allocation has triggered sharp opposition from airlines, who warn it could push up fares, hurt affordability and reshape how tickets are priced across India's aviation sector.
This is the third part of Lock & Key, a series that looks at how India's bank locker system works, the risks involved, and what customers need to know. After examining safety and insurance in the first two parts, this story focusses on a new problem – access.
The former RBI Govenor said a 15–20% global energy disruption would require sharp demand cuts, pushing oil to $150–$200 per barrel, risking severe economic stress if the conflict continues another month.
Venkataraman joined Flipkart in 2015 and has been part of the company's leadership team through a period of growth and restructuring. During his tenure, he helped strengthen the company's financial operations.
The gold rate today is around Rs 1.5 lakh per 10 grams for 24-carat gold, while 22-carat gold is near Rs 1.4 lakh, with prices edging higher after recent losses. Silver is also seeing a slight uptick after a volatile phase.