Akasa Air Takes Flight; Nod for International Operations to Saudi Arabia, Kuwait, and Qatar
In a groundbreaking move, Akasa Air has received the government’s approval to extend its flight operations beyond India’s borders, signaling the airline’s entry into the international market. The destinations initially granted are Saudi Arabia, Kuwait, and Qatar, heralding a new era for this low-cost carrier. This development aligns with India’s modified 0/20 rule, facilitating international flights once an airline possesses a minimum of 20 aircraft in its fleet without any time-based constraints, a shift from the previous 5/20 rule. However, a notable challenge for Akasa Air lies in securing access to destinations like Dubai, where existing bilateral agreements have nearly been exhausted, underscoring the intricacies of international aviation regulations. The airline’s upcoming journey abroad will undoubtedly shape its role in the global aviation landscape.
US Crypto Crackdown Regulators Target Coinbase and Binance, Raising Calls for Comprehensive Regulation
US regulators have intensified their scrutiny of major players to assert greater control over the burgeoning cryptocurrency industry. The Securities and Exchange Commission (SEC) recently filed a lawsuit against Coinbase, the largest digital currency trading platform in the United States, for failing to register as a securities exchange venue. This legal action comes just a day after similar charges were brought against Binance, a prominent cryptocurrency exchange, and its founder, Changpeng Zhao.
Exclusive: India demands nearly $250 million from Pernod for undervaluing imports
Indian authorities have demanded $244 million from the local unit of French spirits giant Pernod Ricard for undervaluing concentrate imports for over a decade to avoid full payment of duties, a government notice seen by Reuters shows.
