Taiwan says set to order Uber to exit market

[TAIPEI] Taiwan's Investment Commission said on Wednesday it is set to order Uber Technologies Inc to exit the domestic market, saying the global ride-hailing giant misrepresented its business as an internet-based information technology platform rather than a transportation service.

The commission's executive secretary Emile Chang said a final decision will be made by Aug 11. The commission oversees Taiwan's inbound and outbound foreign investments.

Uber officials in Taiwan could not be immediately reached for comment.

REUTERS