trending Market Intelligence /marketintelligence/en/news-insights/trending/4IWPJvob1Q-sZoRov2H95A2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Philippines fines Grab for breaching commitments in May to August 2019 rides

US fintech funding on pace to end year higher than 2019

How US Transportation Credit Quality is Affected by COVID-19

How US Transportation Credit Quality is Affected by COVID-19

COVID-19: Assessing The Credit Risk Impact On Small- And Medium-Enterprises (SMEs)


Philippines fines Grab for breaching commitments in May to August 2019 rides

The Philippine Competition Commission said Dec. 18 that it fined GrabTaxi Holdings Pte. Ltd. about 16.2 million Philippine pesos for breaching its pricing and service quality commitments in the final quarter of the company's initial undertaking.

Grab was fined about 14.2 million pesos for overcharging passengers and an additional 2 million pesos for exceeding driver cancellations.

The development comes after the commission received the audit report submitted by the independent monitoring group tasked to review the ride-hailing company's compliance with its voluntary commitments on price, service quality and non-exclusivity for one year or until Aug. 10, 2019.

Singapore-based Grab was earlier fined 11.3 million pesos in the first quarter, 7.1 million pesos in the second quarter and 5.05 million pesos in the third quarter. Fines for the third and fourth quarters will be refunded via GrabPay credits to passengers who used the ride-hailing platform between May 11, 2019, and Aug. 10, 2019.

Grab said that it will respect the commission's decision and process the refund despite saying that its fares are compliant with the rules set by the country's Land Transportation Franchising and Regulatory Board, according to the Nikkei Asian Review. The company reportedly added that its pricing will "still be influenced by factors such as lack of supply, and the traffic situation."

Grab in 2018 acquired Uber Technologies Inc.'s Southeast Asian operations for an undisclosed sum.

As of Dec. 19, US$1 was equivalent to 50.65 Philippine pesos.