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Eco/Invest/Demography

Massive ransomware attack hits PTI, services resume

According to a company spokesperson, “The computer servers suffered a massive ransomware attack, disrupting operations and the delivery of news to hundreds of subscribers across India for several hours before they were restored after an all-night effort by engineers”.
According to sources, no ransom was paid and the engineers worked through the night to restore the services by Sunday morning.

The ransomware was identified as LockBit that encrypted data and applications, crippling the news delivery to subscribers.

LockBit functions as ransomware-as-a-service (RaaS).

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Cyberattack on Dr Reddy’s Labs sharp reminder to strengthen digital infrastructure: Analysts

Dr Reddy’s faced a major data breach yesterday which triggered a shutdown of its key facilities. The company experienced data breaches in servers in the UK, the US, India, Brazil and Russia. Afterwards, the company released a statement which said that in the wake of a detected cyberattack, it had isolated all data centre services to implement preventative measures. Dr Reddy’s anticipates all services to be up within 24 hours and does not expect any major impact on operations due to the cyberattack.

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Vaccine storage issues could leave 3 billion people without access

The vaccine cold chain hurdle is just the latest disparity of the pandemic weighted against the poor, who more often live and work in crowded conditions that allow the virus to spread, have little access to medical oxygen that is vital to Covid-19 treatment, and whose health systems lack labs, supplies or technicians to carry out large-scale testing.

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FPIs remain net buyers in Oct so far amid better than expected financial results

The total net investment during the period under review stood at Rs 17,749 crore. In September, FPIs were net sellers at Rs 3,419 crore. The investment in Indian markets has come at a time when most of emerging markets like Brazil, South Africa, Taiwan, and Thailand have seen net outflows in 2020.This shows that foreign investors perceive India to be performing well in the immediate as well as long horizon,” co-founder and COO at Groww Harsh Jain noted.

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All citizens in the country to get free COVID-19 vaccine: union minister Sarangi

The governments of Tamil Nadu, Madhya Pradesh, Assam and Puduchchery have already announced free of cost COVID vaccines for the people of their states, while Delhi Chief Minister Arvind Kejriwal has demanded free vaccine for all citizens across the country.Prime Minister Narendra Modi has announced that all people will be provided free of cost vaccines. An estimated Rs 500 odd will be spent on vaccination of each person,

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Changing global retirement planning

Global life expectancy went up by five years between 2010 and 2015, the fastest increase since the 1960s. A post-pandemic boost to healthcare investment may make us all live longer, on average.
Asians naturally don’t want to die working, and many societies have some form of non-family safety net. Japan has a public long-term care insurance. In South Korea, Taiwan, Singapore, Hong Kong, and Malaysia, retirees expect the government to play a role in ensuring income security.
Indians have an even keener wish. Given the country’s youthful demographics, constrained state finances and underdeveloped pension markets, even limited financial assistance for the elderly may have to be “purchased” by them from the next generation.

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