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‘Flipping’ by startups poses security threat, says SJM
Ashwani Mahajan, National Co-Convener of SJM – a wing of the Rashtriya Swayamsevak Sangh, says unicorns with over USD 1 billion valuation ‘flipping’ means avoiding Indian regulatory oversight and loss of revenue to the country.
”India has been proud of its startups creating immense value and adding to the GDP of the country. But our happiness remains short-lived when we find that they have not remained Indian any more. Most of these high ticket startups have flipped away and are no longer Indian companies in essence,” he told PTI.
Flipping means a transaction where an Indian company incorporates a firm in a foreign jurisdiction, which is then made the holding company of the subsidiary in India. The most favourable foreign jurisdictions for Indian companies are Singapore, the United States and the United Kingdom.
Over 90 pc Indian business leaders feel pandemic pressed need to improve crisis mgmt capability: Study
Puneet Garkhel, Partner and Leader, Forensics Services, PwC India, said that operations and supply chain, finance and liquidity, and workforce are the three areas in which Indian businesses experienced ”significant” or ”critical” impact owing to the pandemic. ”Indian businesses that have survived and even thrived, through this period have several significant foundational strengths in common with the most critical being a dedicated crisis response team with a fit-for-purpose response strategy, aligned to their organisation’s goals and purpose,” said Garkhel.
Govt launches Rs 7,270 cr scheme for road safety in 14 states
An Integrated Road Accident Database (IRAD) will be rolled out in all states by 2022-23 and applied for identifying and rectifying all black spots on state highways and major district roads.
Road safety audit will be made mandatory on state highways and urban roads by the end of the scheme period.
Nairobi to Ningbo: See the supply shocks spanning globe
Container rates have shot up by as much as fivefold because of the disruptions that the pandemic is causing at ports around the world. Space on containers has been hard to secure and at one point, the company had a shipment of finished goods delayed for six weeks trying to leave India, said Adrienne Sodar, the company’s joint managing director.
65% of users still re-use passwords across accounts: Report
“Strong cybersecurity habits are more important than ever this year, given the sheer volume of time individuals have spent online in the last 18 months and the corresponding spike in cyber-attacks,” the company said in a statement.
Most data breaches — a staggering 85 per cent — involved a human element through phishing or human error, according to the 2021 Data Breach Investigations Report and the need for password security remains critical as attacks rise.
WPP settles with US SEC charges of bribery in India, other FCPA violations; to pay $19 mn to watchdog
Issuing an order after accepting WPP’s offer to settle the matter, the Securities and Exchange Commission (SEC) said the bribery scheme took place at a WPP’s majority-owned subsidiary in India, which through intermediaries paid as much as a million dollars in bribes to Indian officials to obtain and retain government business.
Google CEO Sundar Pichai sought to keep Incognito mode issues out of spotlight, lawsuit alleges
Users last June alleged in a lawsuit that Google unlawfully tracked their internet use when they were browsing Incognito in its Chrome browser. Google has said it makes clear that Incognito only stops data from being saved to a user’s device and is fighting the lawsuit.
IMF’s Georgieva accuses former World Bank president Kim’s office of manipulation
She also accused the office of the bank’s past president, Jim Kong Kim, of manipulation, saying his office had proposed including Hong Kong data in China’s ranking in the World Bank’s Doing Business 2018 report to boost China’s standing. 7
WNS Cares Foundation Partners with CHILDLINE India to Empower Over 7 Lakh Children on Cybersafety
”Cybersafety has become a crucial aspect within the larger issue of child safety, especially in the wake of the pandemic due to the unprecedented unsupervised online exposure that children are experiencing. We are pleased to collaborate with WCF to seed cybersafe behavior among children,” said Dr. Anjaiah Pandiri, Executive Director, CHILDLINE India Foundation (CIF).
Supply chain snarls could cost automakers $210 billion this year: Report
The dour new forecast comes amid warnings from automakers and commercial truck manufacturers that semiconductor shortages and commodity price spikes are not easing as 2021 heads into its final months, as industry executives had hoped they would.