Taxi companies forced to reduce fares to compete with Uber prices.
Taxi companies slash fares to compete with Uber.

GetTaxi, a Tel Aviv-based ride-hailing service operating in Moscow and St Petersburg , has cut its fares in these Russian cities due to strong competition from Uber. GetTaxi is now charging a 50-rouble (US$1) starting fee and 18 roubles a minute afterwards, meaning that a five-minute ride will be less than half of its previous cost. The company is expecting to make a profit on longer routes and plans to subsidise drivers on shorter routes. Read more:

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