Grab has written to Prime Minister Nguyen Xuan Phuc expressing concern over the latest draft of a decree prepared by the Ministry of Transport under which transport firms offering services with under 9-seater cars should be registered as taxi firms before they can apply ride-hailing technologies. This means that Grab and other ride-hailing firms would have to register their services again as taxi businesses and comply with corresponding legal responsibilities regarding their operating licenses, drivers’ profiles and tax duties. "The regulation not only goes against the policy and guidelines of the Government on the application of science and technology, and on reform of administrative procedures, but also completely denies the clear benefits achieved by the pilot scheme for ride-hailing services,” the company said. It said that the pilot scheme has sped up development of the transportation market, helped state agencies find effective management solutions using technology, … [Read more...] about Grab: becoming a taxi company a step back from Industry 4.0
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Hanoi bus company attracts more passengers
Illustrative photo (Source: VNA) Hanoi (VNA) – The number of passengers using monthly-paid bus passes issued by the Hanoi Transport and Services Corporation (Transerco) rose 6.6 percent so far this year, while the rise of this group of passengers throughout the capital city was recorded at 5.4 percent. Watchers attribute the increase to the stable operation and improved quality of the service of this means of public transport. Along with opening new lines to expand its service coverage, Transerco has piloted mini buses and vehicles using environmental-friendly fuel in Hanoi. On October 20, the company launched Line 109 connecting My Dinh bus terminal to Noi Bai International Airport. The modern buses, with a capacity of carrying 60 passengers each, have free wifi and GPS system. The launch of the line makes it easier for passengers to reach the airport from the city downtown, while easing overload in Line 07 from Cau Giay district to Noi Bai International Airport. According … [Read more...] about Hanoi bus company attracts more passengers
HCMC faces potential lawsuit over proposed repossession of land from company
Lavenue Investment JSC, which had planned to build a five-star hotel and shopping mall on a 4,896-square-meter (5,856-square-yard) plot of land on Le Duan Street in District 1, has sought his intervention to allow it to resume construction. The development ground to a halt after the Government Inspectorate concluded last May that the city People's Committee had sold the land to private firms against regulations, causing a loss of trillions of dong (VND23,250 = $1) to the treasury and urged the city to appropriate the land. Lavenue general director Do Minh Quan said in his letter to PM Nguyen Xuan Phuc" "[The inspectors] cannot request to have the land repossessed because of the city leaders' mistake. If the leaders committed mistakes then it was partially due to budgetary pressures during the economic crisis, they did not get any [personal] benefit from approving our project." According to Quan, Lavenue did not commit any violation, the land use fee it had paid was twice the market … [Read more...] about HCMC faces potential lawsuit over proposed repossession of land from company
New service to help companies cut carbon emissions, generate savings
SINGAPORE: Singapore companies can now subscribe to a service that will help them cut energy usage and carbon emissions by about 10 per cent, and in turn, generate savings. Singapore pledged under the Paris Agreement on climate change to reduce emissions intensity by 36 per cent from 2005 levels by 2030. (Photo: AFP/SHAMMI MEHRA) The service – called the Co-Pilot Hub – was launched on Monday (Oct 22) and is offered by software and services provider KBC. The hub is co-funded by Japanese electrical engineering and software firm Yokogawa Electric Corporation and through a grant from the Economic Development Board under the Research Incentive Scheme for Companies (RISC). Companies can sign up and pay a subscription fee and pay the solutions provider, KBC, a portion of the energy savings that are achieved. KBC declined to disclose how much the subscription fee is. KBC projects that a refinery, for example, will be able to save up to S$30 million a year through the … [Read more...] about New service to help companies cut carbon emissions, generate savings
Momenta, China’s first autonomous driving unicorn company
Existing investor NIO Capital and Pagoda Investment increased their investments. Strategic investors, including Tencent, government funds from Shanghai and Suzhou, China Merchants Group, and CCB International participated in this round. Earlier, Momenta announced the close of a $46 million round of B-1 funding led by NIO Capital, a B-2 round led by Cathay Capital, an A round led by Shunwei Capital, as well as angel investment from Blue Lake Capital, Sinovation Ventures and Zhen Fund. Since its inception, Momenta has attracted investment totaling more than $200 million. "This round of funding has strategic importance to the company," Momenta CEO Xudong Cao said, "Momenta will continue to work closely with its strategic partners in automotive, logistics, big data and other related areas." Founded in September 2016, Momenta is building intelligent systems for autonomous driving, aiming to provide solutions for Tier 1 suppliers and OEMs. Cao said, "In the past two years, Momenta has … [Read more...] about Momenta, China’s first autonomous driving unicorn company