Prime Minister Narendra Modi Addressing the Global Fintech Fest...
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Mpox emergency may add to economic, fiscal challenges in some African sovereigns: Fitch
In most of African countries , the number of confirmed mpox cases...
Indian lenders lag global peers on cybersecurity spends, BCG Says
Digital payment frauds saw a more than fivefold jump to 14.6...
Fed’s Bullard sees cryptocurrencies shifting US financial system
While it is possible for multiple currencies to exist simultaneously and lead to more voluntary transactions, “in the real world, some of these now-enabled transactions may be illegal or quasi-legal,” he said.
Harvard University invests in Litigation Finance Fund
Litigation finance has made inroads with law firms and litigants around the world, with investors committing an estimated $9 billion over the long-term to the growing industry, according to Bloomberg Intelligence. The funds, which have been knocked for fueling more lawsuits, pursue strategies from financing cases against corporations to providing cash advances to individual plaintiffs in exchange for a share of settlements.
More than one in 10 firms losing over $10 million due to cyberattacks:Willis Towers Watson
“Other than the direct costs such as financial expenses and fines arising as a result of cyber breaches, indirect costs such as opportunity costs, reputational damage and loss of customers can be equally or even more costly to companies. While the immediate losses from an incident may not be catastrophic, it may take more than five years for a company to feel the full financial consequences, particularly if a company has lost their competitive advantage as a market leader. It is therefore important for companies to take an integrated approach in assessing and managing their reputational risks,” added Jessica Wright, Cyber Leader Asia, Corporate Risk & Broking at Willis Towers Watson
DGCA found safety management system of 5 airlines deficient: Govt
Civil Aviation Minister Hardeep Singh Puri said the audits also found that the flight crew rostering software was not upgraded and untrained staff were manning check-in counters.
Shipping firms begin hiring unarmed guards for voyages in Middle East Gulf
-Jim Hilton, managing director with maritime security company PVI, said while a ship’s crew were able to carry out functions including increased watches and regular walk-rounds of the vessel, external support could provide “psychological comfort.”
-Additional insurance premiums are up tenfold, adding as much as $100,000 in costs for a supertanker sailing on a seven-day trip, ship insurers added
Financial world’s blockchain euphoria gives way to pragmatism as projects stall
The euphoria that surrounded the early days of Wall Street’s interest in blockchain is giving way to pragmatism, as companies realize that it will likely take years before it takes off in a substantial way.
Indian IT managers facing budget crunch for cybersecurity
“Staying on top of where threats are coming from takes dedicated expertise, but IT managers often have a hard time finding the right talent or don’t have a proper security system in place that allows them to respond quickly and efficiently to attacks,” Chester Wisniewski, principal research scientist, Sophos, said in a statement.
Facebook to pay $5 billion fine for privacy violations
FTC initiated the investigation after a scandal involving former British consulting firm Cambridge Analytica, which was accused of illegally accessing data of more than 87 million Facebook users without their prior knowledge. FTC investigated whether Facebook’s data sharing with the British firm violated a 2011 consent agreement signed between Facebook and the regulator.
India Inc flags Water-risks
Water is shaping up to be a serious economic risk in Asia’s third-largest economy. Desertification, land degradation and drought cost India about 2.54% of gross domestic product in 2014-15, according to a study last year by India’s environment ministry. In a global survey of miners, just under half the respondents reported financial impact worth $11.8 billion over five years thanks to water-related problems such as droughts, increased water stress and flooding, according to a 2018 report from CDP.
Safety lapses found in IndiGo, DGCA issues notice to 4 executives: Report
The DGCA is conducting a special audit of all airlines and airports which are in monsoon-affected areas in the wake of multiple landing incidents across the country.