US aviation chief says Boeing 737 MAX won't be recertified until 2020 : Bulletin: Business Today
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US aviation chief says Boeing 737 MAX won't be recertified until 2020

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December 12, 2019

Cabinet approves amendments to streamline Insolvency and Bankruptcy Code
The Union Cabinet has approved certain amendments to the Insolvency and Bankruptcy Code (IBC) during its meeting on Wednesday. The changes in bankruptcy law are meant to help investment in troubled sectors, protect corporate debtors, and to prevent ill-thought-out triggering of bankruptcy proceedings. The amendments also ensure that the foundation of a corporate debtor's business remains safe

Indian banks seek bankruptcy order against Vijay Mallya; UK court reserves judgment
A UK court on Wednesday reserved its judgement on a plea by a consortium of Indian public sector banks led by State Bank of India (SBI) seeking a bankruptcy order against embattled liquor tycoon Vijay Mallya as part of efforts to recoup around 1.145 billion pounds in unpaid loans. Judge Michael Briggs reserved his judgment after hearing arguments from both sides in the insolvency division of the High Court on the petition filed by the banks last year, in relation to lending involving Mallya's now-defunct Kingfisher Airlines. The verdict in the case is now expected only in the New Year.

War on poverty akin to battle against cancer, say Nobel Economics Prize winners
The war on poverty can not be won in one major battle, but in a series of small triumphs. This was the firm belief of Abhijit Banerjee, Esther Duflo and Michael Kremer, winners of this year's Nobel Prize in economics, when they started their experimental approach to alleviating global poverty.  The trio on Tuesday received the Sveriges Riksbanks Prize in Economic Sciences in Memory of Alfred Nobel for 2019 at an award ceremony

US aviation chief says Boeing 737 MAX won't be recertified until 2020
The top US air transport regulator on Wednesday doused Boeing's hopes that its 737 MAX will return to the skies this year while lawmakers probed why the agency did not ground the plane after the first of two crashes. In an interview just ahead of a congressional hearing on the crashes, Federal Aviation Administration chief said the aircraft will not be cleared to fly before 2020. The process for approving the MAX's return to the skies still has 10 or 11 milestones left to complete

Teen climate activist Greta Thunberg is TIME's 2019 Person of the Year
Greta Thunberg, the Swedish teenager who began a global movement by skipping school and demanding action on climate change, angrily thundering "How Dare You" at the world's most powerful leaders during the UN Climate Summit for their inaction, was on Wednesday declared as Time magazine's 2019 Person of the Year. At 16, Thunberg is the youngest individual ever to be named TIME's Person of the Year

Citizenship Amendment Bill passed in Rajya Sabha with 125 votes
The Rajya Sabha passed the Citizenship Amendment Bill 2019 a day after the contentious legislation was approved by the Lok Sabha. 125 members of the Upper House of Parliament voted in favour of the Bill, whereas 105 voted against it. The Citizenship Amendment Bill aims to give citizenship to illegal immigrants belonging to Hindu, Sikh, Buddhist, Jain, Parsi and Christian communities from Pakistan, Bangaldesh and Afghanistan. The bill also introduced some changes in provisions related to registration of Overseas Citizens of India (OCI) cardholders.


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