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Jet Airways in tailspin, nosedive at IndiGo. New Delhi must stop India’s aviation sector crashing – or face election turbulence

When Bhaskar Dahbi booked a last-minute flight from the southern Indian city of Hyderabad to the western city of Ahmedabad to attend his uncle’s funeral, little did he know his 1,200km journey would be in vain. The software developer, 27, arrived at the airport in good time to cover any eventualities and things appeared to be going his way. All around him, flights were being delayed, rescheduled or cancelled but at least the departures board suggested his own flight would be spared the chaos. … Source link

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The world needs to stop worrying about blockchain, regulate it and let it fly

It was not so long ago that the internet was considered the pinnacle of technology, a network that encompassed far-reaching corners of the globe and demarcated a new world from the old. Over time, technologies that fundamentally change the way people work, operate and engage with each other have emerged – and we continue to make great strides towards a future enabled by technology and limited only by imagination.Underpinning the radical changes, these technologies have in common the willingness… Source link

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The man who grounded the Dreamliner for 123 days says the FAA should stop Boeing’s 737 MAX 8 from flying

It’s a daily miracle that the general public accepts the existence of the aviation industry. Every day, around 100,000 flights take off and fly between towns and cities around the world, each carrying fuel with the stored energy of a cruise missile jammed up alongside scores of families, tourists, businesspeople and pets.That we tolerate and even welcome this state of affairs is a tribute to the generations of engineers and administrators – and regulators – who’ve made travelling by air safer… Source link

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China 

China mulls reprieve for some shadow bankers to stop fall in growth

China might allow a return of some shadow banking operations as long as their lending “benefits the real economy” and does not support speculation, according to a senior banking regulator.The move could relieve some, if not most, of the funding squeeze facing smaller private firms but would also be an step back from the government’s deleveraging campaign to reduce debt and risky lending to help stabilise growth.“We need to have an accurate understanding of shadow banking. For those … Source link

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Vietnam 

Customs to stop accepting cash – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A electricity bill. Việt Nam is promoting cashless payment of public service charges. – Photo thanhtra.com.vn Viet Nam News Dũng said the State Bank of Việt Nam would co-operate with the Ministry of Finance to detail the list of transactions that must be conducted via banks to improve transparency, management and the development of the non-cash economy. The application of QR codes and mobile payments will also be sped up. In late February, the governor of the central bank issued a decision to establish a steering committee…

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Singapore 

Streaming into Normal and Express in secondary schools to stop in 2024; to be replaced by full subject-based banding, Singapore News

Subjects to be taught at 3 levels – G1, G2 or G3 Those who reach Sec 4 in 2027 will take a common exam,  and graduate with common cert SINGAPORE – Forty years after streaming was introduced in secondary schools, the Education Ministry has taken the momentous step to do away with the Normal (Technical), Normal (Academic) and Express streams. Instead, there will be full subject-based banding, in which students will take up subjects at higher or lower levels, based on their strengths. The ministry will start full subject-based banding in…

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Singapore 

Recalcitrant paedophile sexually violated 8-year-old while another boy tried to stop him, Singapore News

SINGAPORE – A paedophile, who sexually violated the eight-year-old son of a friend despite the valiant efforts of another boy to protect the victim, pleaded guilty in the High Court on Wednesday (Feb 13). The prosecution is seeking at least 12 years’ preventive detention for Sanusi Ahmad, 57, a recalcitrant offender who has spent a large part of his life behind bars since he was 26. The current offences were committed less than a year after he was released from jail for molesting and threatening a 29-year-old woman with a…

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Singapore 

Parliament: Bionix did not stop reversing in CFC Liu Kai incident despite repeated commands, says Ng Eng Hen, Singapore News

SINGAPORE – The Bionix armoured vehicle which collided into the Land Rover that Corporal First Class Liu Kai was driving, leading to his death, did not stop reversing despite repeated commands for its driver to do so, Defence Minister Ng Eng Hen revealed in Parliament on Monday (Feb 11). In the Nov 3 accident, the Bionix Infantry Fighting Vehicle stopped only after it mounted the driver’s side of the Land Rover – about eight seconds after it started reversing, said Dr Ng. An independent Committee of Inquiry (COI), as well…

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China 

Next stop Myanmar in China-Japan rivalry as frontier market opens doors to yuan and yen payments

Myanmar has officially permitted the use of the Chinese and Japanese currencies in cross-border payments, as the Asian giants vie for dominance in one of the region’s last frontier markets. The directive means that the yuan and yen join the euro, the greenback and the Singaporean dollar as designated currencies for settling international trade in Myanmar, where the central bank is desperate for foreign investment after years of economic sanctions and financial mismanagement. China, which shares a 2,200km (1,360-mile) border with Myanmar, has been keen to draw its southern neighbour…

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China should save less, stop protecting industries and liberalise instead, to unleash domestic consumption

In his influential 1954 article “Economic Development with Unlimited Supplies of Labour”, the future Nobel laureate economist Arthur Lewis concluded that “the central problem in the theory of economic development is to understand the process by which a community which was previously saving and investing 4 or 5 per cent of its national income or less, converts itself into an economy where voluntary saving is running at about 12 or 15 per cent of its national income or more”. That process, Lewis argued, “is the central problem because the central…

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