Singapore watchdog fines Uber, Grab $9.5 mn over merger deal
Singapore watchdog has fined ride-hailing firm Uber and rival Grab $9.5 million after their merger deal was found to have violated the country's anti-competition laws. The regulator said the effective fares on Grab rose 10-15% following the deal whilst its market share grew to around 80%. However, Uber said it was disappointed with the ruling and was considering an appeal.