Category:

Risk Management

World economy risks ‘dangerously diverging’ even as growth booms

For the year as whole, Bloomberg Economics forecasts growth of 6.9%, the quickest in records dating back to the 1960s. Behind the buoyant outlook: a shrinking virus threat, expanding US stimulus, and trillions of dollars in pent-up savings.

Much will depend on how fast countries can inoculate their populations with the risk that the longer it takes the greater the chance the virus remains an international threat especially if new variants develop. Bloomberg’s Vaccine Tracker shows while the US has administered doses equivalent to almost a quarter of its people, the European Union has yet to hit 10% and rates in Mexico, Russia and Brazil are less than 6%.

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Accident at power plant in UP’s Sonbhadra, 13 labourers injured

In a letter addressed to the district magistrate and Superintendent of Police of Sonbhadra, factory manager of Lanco Anpara Power Ltd SK Dwivedi said the accident took place around 2.45 am when the iron structure fell during maintenance work.

While eight laborers were discharged after treatment, another five are in a serious condition and have been admitted to a government hospital, he said.

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Global chip supply chain increasingly vulnerable to massive disruption: Study

The report comes amid a global chip shortage that started with overbooked factories in Taiwan late last year, but has since been exacerbated by a fire at a plant in Japan, a freeze that knocked out electricity in the U.S. state of Texas and a worsening drought in Taiwan this year. The shortage has idled some production lines at automobile factories in the United States, Europe and Asia.

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US looks to keep critical sectors safe from cyberattacks

“Our aim is to ensure that control systems serving 50,000 or more Americans have the core technology to detect and block malicious cyber activity,” Anne Neuberger, deputy national security adviserShe said the administration has identified five specific modernization efforts as a result of its review of how the SolarWinds hack happened, including using technology that continuously monitors for malicious activity and requiring greater use of multi-factor authentication so systems can’t be accessed with a stolen password alone.

That threat to critical infrastructure was laid bare in February after a hacker’s botched attempt to poison the water supply of a small Florida city raised alarms about how vulnerable the nation’s utilities may be to attacks by more sophisticated intruders.

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Investigation begins into how ship got stuck on Suez Canal

Suez Canal Authority (SCA) Chairman Osama Rabie has suggested weather conditions, including high winds, and human error could have played a role in the grounding on March 23.

“Such grave accidents may not be caused by a single factor, part of it could be the wind, another part could be the human element, and another part could be technical,” Rabie told a news conference Monday night after the vessel was freed.

The investigation will include examining the seaworthiness of the ship and its captain’s actions to help determine the causes, Rabie advisor Captain Sayed Sheasha told Reuters.

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Suez Canal to seek over $1bn compensation for losses caused by stuck ship

The SCA chairman explained that the compensation demanded by the authority is not only for the financial losses caused by six-day navigation suspension, but includes the expenses of using dredgers and tugboats and the physical damage caused during the salvage process.

Egypt resumed navigation in the canal several hours after the Ever Given was freed and re-floated on Monday, after which many of the 422 ships that have been kept waiting started to cross the waterway.

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