As operations in Australia and the UK are slowing down, cab-hailing company Ola may halt its international expansion for the second time in two years, reported Business Standard quoting sources.

Ola was close to starting its operations in Dubai, with executives from the startup firm visiting the city multiple times to hold meetings with government officials, the report said, adding that the venture may happen but it is moving at a slow pace.

However, Ola in an email to the daily dismissed the speculation said the company is encouraged with the progress in global markets and continue to invest in these regions.

"In addition, we are constantly evaluating new opportunities and offering across geographies as we build a sustainable business," Ola was quoted as saying in the report.

It is the second time that the company has faced a setback regarding its international operation, the report said. Earlier, Ola had dropped its plan to launch its business in Bangladesh and Sri Lanka due to issues over internal remittance, which forced it to shift its focus to Australia, the report added.

Besides Dubai, Ola is also planning to expand its service to overseas markets such as the Netherlands, Kenya, Israel, and Brazil, the report added.