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Risk Management

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Third wave of coronavirus unlikely to be as severe as second wave: ICMR Study

Jun 26, 2021 | , , , , , ,

Presenting a vaccine ramp-up scenario where 40 percent of the population has received two doses within three months of the second wave peak, and further that the effect of vaccination is (conservatively) to reduce severity of infection by 60 percent, the study said it illustrates how vaccination could substantially reduce the overall burden during the possible third wave.

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KM Birla won’t buy firms with global supply chains, cites protectionism

Jun 23, 2021 | , ,

China’s rapid economic rise in the past few years and the coronavirus pandemic more recently have exposed the vulnerabilities of global supply chains. This, in turn, has spurred almost every nation, be it the U.S., European Union or Australia, to turn inward, protect domestic enterprises and pursue self-reliance — a macroeconomic policy shift that has complicated growth plans for multinational corporations.

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Karnataka to set up system at dams to get real-time water data, to prevent floods

Jun 22, 2021 | , , , , ,

This system, once set up in Karnataka’s Almatti and Narayanpur dams, will help the officials of both the states overcome the possibility of floods. In case Maharashtra has to release water from its dams as a precautionary measure, it will inform the Karnataka officials who would accordingly lower their water level in Almatti and Narayanpur dams. This alleged lack of communication in 2019 had resulted into Maharashtra releasing lakhs of cusecs water into river beds that flooded the villages on the banks.

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Govt not to seek disclosure of flash sales from etailers; to act on consumer complaints

Jun 22, 2021 | , , , , ,

Discount sales that benefit maximum to consumers will continue, but not fraudulent flash sales on the e-commerce platforms, the government said, adding that the etailers need not be “anxious” about the draft rules.

Ban on fraudulent flash sales, mis-selling and appointment of chief compliance officer/grievance redressal officer — are among key amendments proposed to the Consumer Protection (e-commerce) Rules, 2020, on which the government has sought public comments by July 6.

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Ransomware payment may be allowed tax deductible in US

Jun 21, 2021 | , , , ,

The IRS, the US body for tax administration, offers no formal guidance on ransomware payments, but multiple tax experts interviewed by The Associated Press said deductions are usually allowed under law and established guidance. It’s a “silver lining” to ransomware victims, as some tax lawyers and accountants put it.
Ransomware has become a multibillion-dollar business, and the average payment was more than $310,000 last year, up 171% from 2019, according to Palo Alto Networks.

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