Chandrayaan-2 launch delayed due to technical snag. China GDP growth falls. IndiGo Board to question cofounder. France calls for jet fuel to be taxed. Softbank may invest $1.4bn in Piramal Group. Sachin Bansal invests INR200cr in Piramal Enterprises’ debt. TRAI is at it again – sets high base price for 5G spectrum. What DHFL’s downfall teaches us. Why Trump’s rant against Bitcoin drove up its price and delighted crypto enthusiasts. Amazon upcoming Prime Day sale.
AVIATION, ROCKETS & DRAMA
Chandrayaan-2 launch delayed due to technical snag. IndiGo Board to question cofounder. France calls for jet fuel to be taxed.
Countdown Extended: India will have to wait a little longer to descend on the moon’s South Pole. At T-56 minutes, ISRO spotted a technical snag in the Chandrayaan-2 launch vehicle system and took the decision to postpone the mission.
Details on the snag are yet to be revealed, alongwith the new mission date, which could be in September, which is when the next launch window is.
Oh My IndiGod: Today in IndiGo’s ongoing crisis, some Board members are reportedly set to question cofounder Rakesh Gangwal on “exclusive parleys” with engine-maker Pratt & Whitney. The Board will probe whether Gangwal executed his duties as Director to keep it informed of aircraft and equipment purchase-related developments.
Party Like It’s 1945: Since World War II, the global consensus was to not tax jet fuel in order to incentivise commercial aviation. All these years, while petrol and diesel used in cars or trucks was taxed, fuel on international flights was exempt from such levies.
This could change with France calling for an “eco-tax” on intra-EU economy flights and flights outside the EU. Alongside this eco-tax, France has called for the EU Commission to end the jet fuel tax exemption.
The Goal?: Reducing emissions, which could fall by 11% if such a tax is implemented.
The Downside?: Higher prices – even the minimum tax would increase flight ticket prices by 10%.
Softbank may invest $1.4bn in Piramal Group. Sachin Bansal invests INR200cr in Piramal Enterprises’ debt.