Japan aborts launch of flagship H3 rocket moments before lift off

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Japan on Friday aborted the launch of its first new medium-lift rocket in three decades moments before the H3 vehicle was meant to lift off after secondary booster engines strapped to its side failed to ignite.

During the live-streamed event, the H3’s main engine cut off after the launch countdown had reached zero, leaving the 57-metre (187 ft) rocket on the ground at the Tanegashima spaceport along with its payload, the ALOS-3 land observation satellite, which is also equipped with an infrared sensor designed to detect North Korean ballistic missiles.

“A lot of people have been following our progress and we are really sorry,” the H3 project manager at the Japan Aerospace Exploration Agency (JAXA), Masashi Okada, told a media briefing as he wiped away tears.

“It is really galling,” he said.

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JAXA would aim for a second attempt before the end of March, Okada said.

Japan built the H3 to enhance its independent access to space and bolster its chances of capturing a bigger share of the global launch market from rivals, including Elon Musk’s SpaceX.

It is designed to put government and commercial satellites into orbit and ferry supplies to the International Space Station.

As part of Japan’s deepening cooperation with the United States in space, later variants will also carry cargo to the Gateway lunar space station that NASA plans to build as part of its programme to return people to the moon.

The United States has promised Japan a seat on one of its crewed lunar missions.

Mitsubishi Heavy Industries, the H3’s builder and launch manager, hopes the rocket will boost its space ambitions as SpaceX shakes up commercial launches with its reusable rockets, including the Falcon 9.

The Center for Strategic and International Studies in a September report put the cost of a Falcon 9 launch to low earth orbit at $2,600 per kilogram. The equivalent price for H3’s predecessor, the H-II, is $10,500.

“With the H3 we are aiming to halve the cost per launch,” a Mitsubishi Heavy spokesperson said before the planned launch.

A successful first mission would have put the Japanese rocket into space ahead of the planned launch this year of the European Space Agency’s new lower-cost Ariane vehicle.

The failed launch deals a setback for a burgeoning renaissance in space exploration and industry for Japan.

In December, Japan’s iSpace successfully launched a craft that aims to be the world’s first commercial lunar lander, while billionaire Yusaku Maezawa revealed his crew for what would be the first civilian flyby of the moon.

But both projects are dependent on SpaceX rockets, and with Russian rockets no longer available, the pressure is on for Japan to develop its own delivery system to achieve its space goals.

Space exploration and defence were a core theme of talks between Prime Minister Fumio Kishida and U.S. President Joe Biden in Washington last month.

Chief Cabinet Secretary said the government did not believe the failed launch would impact space policy and the H3 remained key for “strengthening Japan’s autonomy and international cooperation in space activities”.

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‘Fake’ potatoes flood market, buyers confused between Chandramukhi and Hemangini

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Unscrupulous traders are selling ‘Hemangini’ or ‘Hemalini’ potatoes in the market at prices similar to the popular ‘Chandramukhi’ potatoes, which look similar but have a completely different taste. This has caused confusion among buyers, as it is difficult to distinguish between the two by look.

Chandramukhi potatoes are usually sold at Rs. 20 to Rs. 25 per kg, while Hemangini potatoes should be priced at Rs 10 to Rs 12 per kg. However, some traders are fraudulently selling Hemangini potatoes as Chandramukhi potatoes, causing trouble for consumers.

According to a member of the Hooghly Agricultural Cooperative Society, Hemangini potatoes are a mixed variety of potato that is cultivated in different parts of Punjab and Jalandhar. Although this potato has a higher yield than Chandramukhi potatoes, the demand for it in the market is very low, as it is not very tasty and does not cook well.

Hooghly District Agriculture Officer, Manoj Chakraborty, said that it is difficult for people in urban areas to differentiate between the two types of potatoes from the outside. Hemangini potatoes are produced by cross-breeding Jyoti potato with Chandramukhi potato, and since they are a hybrid, they can be cultivated in a shorter time and at a lower cost. These potatoes are grown in the Purshura and Tarkeshwar regions of the Hooghly district.

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Farmers can cultivate Hemangini potatoes twice in one season, and the production rate is higher for hybrids. However, unscrupulous traders are taking advantage of this by selling Hemangini potatoes as Chandramukhi potatoes to unsuspecting buyers.

To differentiate between the two types of potatoes, Chakraborty advised looking at the internal colour after peeling. Chandramukhi potatoes have a light beige colour inside, while Hemangini potatoes have white inside. Additionally, the taste can be used to identify the potatoes, as Hemangini potatoes are not very tasty and do not cook well.

While villagers who are associated with agriculture can recognise the difference, unscrupulous traders continue to deceive people in urban areas and slums. Buyers are advised to be cautious when purchasing potatoes and to be aware of the differences between the two types.

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US looking to ease ties with China, says strategic affairs expert

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The recent shooting down of a Chinese spy balloon by the US has further strained relations between the two superpowers. The incident has provoked a strong reaction from China, which has sanctioned Lockheed Martin and Raytheon Missiles & Defence in retaliation.

However, despite this escalation, President Joe Biden has made it clear that he intends to speak to President Xi Jinping about the issue but is not apologetic about the shooting.

According to Brahma Chellaney, a strategic affairs expert, the fact that US Secretary of State Antony Blinken is set to meet with Chinese Foreign Minister Wang Yi suggests that the Biden administration is looking to ease tensions with China.

This move is in stark contrast to the US’s approach to Russia. This contrast, Chellaney argues, is a sign that Biden is seeking to establish stable relations with China.

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Chellaney said the flight of the Chinese spy balloon across the US for four days before it was shot down signifies that a rising China and not a declining Russia possess the biggest threat to America.

Joe Biden is facing a lot of flak at home for having waited four days before ordering the downing of the Chinese spy balloon. In this context, it is significant that Biden has announced that he intends to speak with President Xi Jinping to keep lines of communication open. Also this weekend, Antony Blinken could meet with China’s Wang Yi, so that clearly shows that the Biden administration is seeking to ease tensions with China, Chellaney said.

Meanwhile, a bipartisan resolution has been moved in the US Senate stating that Arunachal Pradesh is a part of India. This comes at a time when India and China continue to be locked in a boundary dispute.

India has made some key announcements to ramp up boundary infrastructure- one, a Rs 4,800 crore scheme to develop infrastructure in border villages, the raising of 7 new ITBP battalions, and has also approved construction of the Shinku La tunnel for all weather connectivity to Ladakh.

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HUL to sell Annapurna and Captain Cook brands for Rs 60.4 crore; exits atta and salt biz

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Hindustan Unilever Limited (HUL), India’s largest Fast-Moving Consumer Goods (FMCG) company, on Friday, announced the selling of its Annapurna and Captain Cook brands to Singapore-based Uma Global Foods for Rs 60.4 crore to exit from the non-core atta and salt business.

It has signed an agreement for the sale of its atta and salt business carried out under the brands ‘Annapurna’ and ‘Captain Cook’, respectively, the company said in a statement.

“HUL’s decision to divest is in line with the stated intent of exiting non-core categories while continuing to drive its growth agenda in the packaged foods business of dressings, scratch cooking and soups,” said HUL.

About consideration received from the sale of the two brands, HUL said it is Rs 60.4 crore.

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In the financial year 2021-22, both the brand had a turnover of Rs 127 crore and had contributed less than one per cent of HUL’s turnover, it said.

“The brands are being sold to Uma Global Foods Pte Ltd, and Uma Consumer Products Private Ltd. which are subsidiaries of Reactivate Brands International, a Singapore-headquartered company and an affiliate of CSAW Aqbator Pte Ltd (Singapore),” it said.

CSAW is focused on acquiring and scaling up food brands to promote affordable wellness.

The deal envisages the transfer of trademarks, copyrights and other intellectual properties associated with India and several other geographies.

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“The transaction is subject to customary closing conditions, and HUL will continue to manage the business until the completion of the transaction,” it said.

Both brands were launched more than two decades ago.

HUL CEO & Managing Director Sanjiv Mehta said: “Given our strategic priorities and portfolio choices, we believe it is in the business’s best interest to sell these brands to Reactivate Brands International, which is well-positioned to unlock their full potential.”

Ashok Vasudevan, co-founder of Uma Global Foods, said: “We are confident of scaling them up and expanding globally, leveraging founders’ experience. These brands fit well with our mission to promote affordable wellness.”

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Qatar lifts ban on frozen seafood from India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Ministry of Commerce on Friday informed that Qatar has lifted its temporary ban on the import of frozen seafood from India, paving the way for improved bilateral relations and enhanced exports between the two nations.

The ban was imposed in November of last year, just before the FIFA World Cup, following the alleged detection of Vibrio cholera in a few consignments from India.

The Qatari authorities had previously informed India that the ban was temporary and was due to a lack of sufficient testing laboratories in Qatar before the football event.

Since then, the Department of Commerce under the Government of India, along with the Indian embassy in Qatar, has been making constant efforts to resolve the issue, , the ministry said in a statement.

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After a series of discussions with Qatar’s Ministry of Public Health, the ban on frozen seafood was lifted on February 16. However, restrictions on the export of chilled seafood remain in place, it noted.

The Chairman of the Marine Products Export Development Authority (MPEDA), Shri D.V. Swami, who is currently in the city in connection with the India International Seafood Show, expressed optimism about the situation.

“This week has been very good for seafood exporters in India, given the similar lifting of suspension by China. We hope that the restrictions on chilled seafood by Qatar will also be cleared soon after a reassessment of the situation,” he said.

Earlier this week, on February 14, Beijing lifted the suspension of 99 Indian seafood-processing exporters after acknowledging India’s assurance over source control. MPEDA, along with other agencies, played a crucial role in getting Beijing to lift the suspension of a total of 110 units since December of 2020.

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ED accuses Pernod Ricard of making illegal profits in Delhi

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Enforcement Directorate has accused the Indian unit of French spirits group Pernod Ricard of illegally making profits in India to the tune of $23 million by giving false price information and violating Delhi government’s liquor policy to boost market share, a charge denied by Pernod.

In a 14,000-page filing before the court, ED said Pernod gave ”false”, higher prices when Delhi’s 2021 liquor policy had required liquor manufacturers to disclose their lowest factory prices to enable the state government to set competitive prices.

This helped Pernod earn “excess profit” of $23 million which should have been passed to the consumers, ED said in the court filling, according to a Reuters report.

Pernod calls ED’s allegations inaccurate

Calling ED’s allegations inaccurate, Pernod Ricard India told Reuters it would demonstrate its legal compliance in court and added that it is cooperating with the authorities.

The Delhi court has asked the accused to be present at the next hearing on February 23. Pernod Ricard India’s Chief Operating Officer Rajesh Mishra and Benoy Babu, the head of its international brands business, face a hefty fine and jail term of 3–7 years if found guilty.

Pernod Ricard India’s net profit in 2021-22 stood at $176 million, its regulatory disclosures show. Pernod has 17% market where in India through its brands Chivas Regal, Glenlivet and Absolut Vodka.

In a court filing in November, ED said Delhi government’s liquor policy prohibited manufacturers from participating in retail sales but Pernod effectively used corporate guarantees to invest in retailers who bid for store licenses. Pernod has denied any wrongdoing.

Attempt to control Delhi liquor business

In the new filing, ED cited a Pernod PowerPoint presentation to say that the company had an internal plan to “take control of retail shops, create flagship stores” in a bid to control ”retail businesses in Delhi”.

Pernod’s ”support” to the associates who were bidding for licences in Delhi had the potential to generate an additional $15 million ”benefit over 3 year period”, ED said quoting an email sent by Mishra, when he was acting India chief financial officer (CFO) in mid-2021, to group CFO Helene de Tissot.

Mishra further wrote that the company’s partnership with retailers “will also enable us to counter local players’ threat, our other key battle ground”.

ED stated that Pernod was part of a lobby to privatise retail liquor stores and alleged that Babu was “fully involved in the conspiracy” and had sent 4,000 emails to “influence policy formulation to suit the interest of Pernod”.

Following the emails, a government panel formalised a policy wherein authorities would exit the retail business and let only private players bid for store licences.

Delhi revoked that policy last year, ending the reign of private retail shops. Liquor is now only sold via government-run shops.

Babu was arrested in November for alleged violations of Delhi’s liquor policy and his bail plea was rejected this week and he continues to be in jail. He has told the court his arrest is ”illegal” and he was ”falsely implicated”. Mishra has not been arrested.

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Edtech firm BrightCHAMPS launches ‘Next-Gen Hub’ for life-skills learning in Vietnam

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In response to the increasing demand for blended learning solutions in the post-pandemic era, edtech company BrightCHAMPS has launched its phygital model for life-skills learning, called the BrightCHAMPS Next-Gen Hub. The edtech platform is planning to set up more such hubs in major cities in India, Indonesia, and UAE in the next two years.

The learning centre, according to the company, offers hybrid STEM-accredited classes based on a curriculum reviewed by an independent Global Curriculum Advisory Board comprising world-renowned experts from Roblox, Kyron Learning, GEMS Education, and Nous Group.

The first BrightCHAMPS Next-Gen Hub opened this week in Ho Chi Minh City in Vietnam, while the second is scheduled to follow soon, in May 2023, also in Vietnam. 

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Founder and CEO of BrightCHAMPS, Ravi Bhushan, said, “We’ve learned that parents look towards global companies like BrightCHAMPS to simplify their lives by being the one-stop destination for all life skills learning for their kids. So we’re definitely looking to establish more BrightCHAMPS Next-Gen Hubs in the coming year.”

BrightCHAMPS said it aims to offer a holistic approach to learning and equip students with the necessary life skills to succeed in a rapidly changing world. With the establishment of the BrightCHAMPS Next-Gen Hubs, the edtech platform is set to revolutionise the education system and create a more well-equipped and job-ready workforce for the future.

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A look at the top 3 gainers and losers from the week gone by

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The world of cryptocurrency is known for its volatility and unpredictability, with prices fluctuating on a daily basis. In the past week, we have seen significant movements in the market with some coins experiencing major gains while others have taken a dip. In this article, we will delve into the top three gainers and losers of the week, as well as the reasons behind the rise and fall of each coin.

Top Gainers

BinaryX (BNX)

BinaryX started as a derivates trading platform but later transformed into a decentralised gaming and initial game offering (IGO) platform. It currently has three popular games on its network: CyberDragon, CyberChess, and CyberLand. 

The platform’s native cryptocurrency, BNX, saw a massive surge in its price over the last seven days. The token rallied 44.16 percent in the week gone by and was trading at $168.61 at the time of writing.

BNX began to spike after the team announced plans for a 1:1000 token split on Feb 9. The proposal to split the BNX token received support from 99.5 percent of the project’s DAO. Therefore, the platform’s announcement to go ahead with the split has won investor confidence. Moreover, the project’s low market capitalization of $487 million also makes it easier for the price to be influenced by positive news or developments.

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Astar (ASTA)

Launched in 2019 by Sota Watanabe, Astar is a Polkadot parachain that provides infrastructure for building dApps. The platform has a unique build-to-earn mechanism that pays developers for writing code and developing DApps. Astar’s native cryptocurrency, ASTA, has seen substantial growth in the past week, rallying more than 49 percent over the last seven days. These gains can be attributed to recent partnerships with Toyota and Sony. 

On Feb 1, the project announced a web3 hackathon that was sponsored by car manufacturing giant, Toyota. “During the event, we aim to develop the first Proof-of-Concept DAO tool for Toyota’s employees. If a good tool is produced, Toyota employees will interact daily with Astar Network,” said Watanabe in a statement. 

More recently, Astar partnered with global entertainment giant, Sony, to create a web3 incubation program. Through this program, Sony aims to explore “how blockchain technology can solve various problems in their industry.” Moreover, projects that participate in the incubation program, including Astar, may also receive funding from Sony. These recent collaborations have brought in a new wave of investors to the project, driving prices further up.

MAGIC

MAGIC is the native cryptocurrency of Treasure, the largest gaming and NFT ecosystem on Arbitrum. Treasure has several gaming platforms under its umbrella, including Bridgeworld, Smolverse, Bitmates, the Beacon, and many more. MAGIC serves as the in-game token for two of these projects, Bridgeworld and Smolverse. It also serves as the governance token for Treasure. 

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MAGIC has been on an upward trajectory ever since it was listed on Binance and added to the exchange’s “Innovation Zone” in December 2022. These gains continued as metaverse tokens began to rally in 2023. For instance, Decentraland’s MANA, Axie Infinity’s AXS, and SAND by the Sandbox are all deep in the green since the start of the year. MAGIC has also been riding the metaverse wave, jumping a further 47 percent over the past seven days. Overall, the token is up more than 325 percent since the start of 2023.

Top Losers

Frax Share (FXS)

Frax Share saw the largest decline in price over the past week, losing 2.22 percent of its value. This is likely due to increased scrutiny from regulators, particularly the U.S. Securities and Exchange Commission (SEC), as they ramp up their crackdown on the crypto industry. The SEC has been targeting stablecoins, particularly the BUSD token issued by Paxos Trust Company. Since Frax Share has a significant amount of $BUSD in its liquidity pools, it has been caught up in the SEC’s crosshairs.

Neo (NEO)

Neo also experienced a price decline this week, losing 1.70 percent of its value. This blockchain platform is often referred to as the “Chinese Ethereum” due to its support for smart contracts and decentralised applications. The reason for the price decline is not immediately clear, but it could be due to general market volatility or a lack of significant news or developments for the platform.

Nexo (NEXO)

Finally, Nexo saw a decline of 2.39 percent in its token price this week. Nexo is a cryptocurrency lending firm that recently agreed to pay $45 million in penalties to US regulators after an investigation into its Earn Interest product. The product allowed users to earn daily compounding yields on certain cryptocurrencies by loaning them to Nexo. 

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Following the settlements with the SEC and the North American Securities Administrators Association, Nexo has announced that it will terminate the product on April 1. The decline in price could be due to uncertainty around the future of the company following the settlements.

The Overall Market

Apart from the top gainers and losers, the overall market has seen some notable movements as well. The two biggest coins in the market, Bitcoin and Ethereum, have experienced significant gains, with Bitcoin up by 9.17 percent and Ethereum up by 8.01 percent over the last seven days. 

Top meme coins, Dogecoin and Shiba Inu, have also seen gains over the last seven days. DOGE recorded a spike of 5.70 percent over the past week, whereas SHIB was up six percent during the same period. Filecoin (FIL), the Render Token (RNDR), GMX, OKB, and Fantom were some of the other top gainers for the week. There were very few losers due to the recent bullish sentiment in the market, as well as the growing adoption of cryptocurrency by institutional investors.

Conclusion

As always, investing in cryptocurrencies can be highly volatile, and investors should exercise caution and do their due diligence before investing in any cryptocurrency. It is also essential to consider the overall market conditions, regulatory landscape, and other factors that can influence the price of cryptocurrencies.

Overall, the cryptocurrency market is still evolving, and there is still a lot of uncertainty about its future. However, with the growing adoption of blockchain technology and the increasing number of use cases for cryptocurrencies, it is clear that they are here to stay. As the market continues to mature, it will be interesting to see how these tokens and others perform in the future.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

NPG recommends 3 railway projects to improve port connectivity and decongest routes

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Network Planning Group (NPG) in a meeting held in New Delhi on Friday, recommended three important railway projects.

The first project that the NPG examined was the doubling of railway lines between Aurangabad and Ankai in Maharashtra. This project will provide an alternate route for travelers going from Bangalore, Hyderabad, Nizamabad, and other southern cities to long destinations like Mumbai, New Delhi, and Amritsar.

It will increase section capacity from 114 percent to 143 percent and improve both goods and passenger traffic on this single line. The doubling will also cater to the potential freight traffic movement from the nearby industrial clusters.

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The second project that the NPG recommended was the addition of a third line in the balance section between Bhadrak and Vizianagaram in Odisha and Andhra Pradesh.

This project will improve cargo movement between the western and southern coasts of India and decongest the stretch on the Howrah-Chennai railway route. The proposed railway line will connect three non-major ports and two major ports, facilitating movement to goods sheds at Khurda, Jagannathpur, and Srikakulam.

The project will also shift major road cargo movement to rail and enhance the modal share of railways.

The third project that the NPG recommended was the addition of a third and fourth railway line in the Sonnagar-Andal route, which runs through Bihar, Jharkhand, and West Bengal.

This project is part of the Mission 3000 MT plan of the Indian Railways and will connect important districts like Gaya, Hazaribagh, Dhanbad, and Pashchim Bardhaman.

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The completion of this project will increase the average speed of trains from 33 kmph to 55 kmph in this section, ensure overall improvement in logistics network, and decongest the highly saturated Delhi-Howrah railway route under the Golden Quadrilateral.

The Special Secretary emphasised the importance of these projects for port connectivity in the region, and all three projects were recommended for implementation with suggestions to address last-mile connectivity and achieve the right multimodal logistics share.

The NPG’s recommendations will be forwarded to the appropriate authorities for further action.

The NPG is part of the institutional framework of PM GatiShakti National Master Plan, and is chaired by the Special Secretary of DPIIT, with the heads of Planning Divisions of various infrastructure ministries, as well as representatives from NITI Aayog and MoEF&CC.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Uddhav Thackeray calls Election Commission’s decision dangerous for democracy

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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After the Election Commission of India (ECI) setback, former Maharashtra chief minister Uddhav Thackeray on Friday said the Eknath Shinde faction has stolen the bow and arrow symbol and people will avenge this theft.

The ECI had allotted the name ‘Shiv Sena’ and its poll symbol ‘bow and arrow’ to the party’s faction led by Maharashtra Chief Minister Eknath Shinde. Also, the three-member Commission allowed the Thackeray faction to retain the name Shiv Sena (Uddhav Balasaheb Thackeray) and the ‘flaming torch’ poll symbol, given to it in an interim order last year.

During the press conference at his Matoshree bungalow in Mumbai, Thackeray questioned why the ECI has given the decision before the Supreme Court verdict. “If the party’s existence is decided based on the number of MLAs and MPs, any capitalist can purchase MLA, or MP and become chief minister.”

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Claiming that there was no democracy left in India, Thackeray said PM Narendra Modi should declare that dictatorship has started in the country and described ECI’s decision to recognise the Eknath Shinde faction as real Shiv Sena as dangerous.

“We will challenge in Supreme Court poll panel’s decision to recognise Eknath Shinde faction as real Shiv Sena,” he said.  The EC decision indicates that the Mumbai municipal corporation elections will be declared soon, he added.

The Commission said it applied the principles of the ‘Test of Party Constitution’ and the ‘Test of Majority’ while finalising the order. The Commission said MLAs backing Shinde got nearly 76 percent of votes polled in favour of the 55 winning Shiv Sena candidates in the 2019 Maharashtra Assembly polls. The Thackeray faction’s MLAs got 23.5 percent of votes polled in favour of the winning Shiv Sena candidates, it added.

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The Commission said the respondent (Thackeray faction) had relied heavily on the 2018 Constitution of the party to stake claim to the poll symbol and the organisation but the party had not informed the Commission about the amendment to the Constitution.

“The amended Constitution of 2018 is not on record of the Commission,” the order said, and added that it found the party Constitution, on which the Thackeray faction was placing strong reliance, to be “undemocratic”.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow