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Nairobi to Ningbo: See the supply shocks spanning globe

by | Sep 26, 2021 | , , , , ,

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

by | Sep 25, 2021 | , , ,

“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.

Vanuatu to push international court for climate change opinion

by | Sep 25, 2021 | , , ,

Vanuatu, with a population of some 280,000 people spread across roughly 80 islands, is among more than a dozen Pacific island nations facing rising sea levels and more regular storms that can wipe out much of their economies.

“In response to the catastrophic levels of climate change loss and damage faced by this small Pacific nation, Vanuatu recognises that current levels of action and support for vulnerable developing countries within multilateral mechanisms are insufficient,” the government said in a statement on Saturday.

India & US to collaborate on health and to counter ransomware

by | Sep 25, 2021 | , , ,

The White House said both India and the US are committed to continued partnership on cybersecurity, to include efforts to promote critical infrastructure resilience, collaboration to counter cyber-enabled crime such as ransomware, and cooperation to address shared cyber threats, including through workforce development, and exploring common cyber standards and promoting secure software development.
The White House noted that over the 50 years, the US Centers for Disease Control and Prevention (CDC) has successfully collaborated with the Indian government to address India’s public health priorities.

US, India launch task forces on Hydrogen, Biofuels to expand clean energy technologies use

by | Sep 25, 2021 | , , ,

Apart from it, the US invited India to participate in the Agriculture Innovation Mission for Climate (AIM for Climate), which will be launched at COP26 in November. AIM for Climate has the goal of increasing and accelerating global innovation on agriculture and food systems in support of climate action. The United States looks forward to working with India to support the conclusion of a contract to build six Westinghouse Electric Company AP-1000 nuclear reactors in Kovvada, India, and looks forward to a completed techno-commercial offer soon. Once completed, the Westinghouse project will provide clean, reliable power to millions of Indians.

WPP settles with US SEC charges of bribery in India, other FCPA violations; to pay $19 mn to watchdog

by | Sep 25, 2021 | , ,

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.

MSMEs vulnerable to cyber threats with growing digitalisation: Officials

by | Sep 25, 2021 | ,

There is a need to equip these businesses with knowledge and hands-on training on how to identify and combat these threats, and, become more cyber-resilient, Union MSME ministry’s director SK Sahoo said.

Cyber security remains an “area of serious concern” for the MSMEs, and the vulnerabilities of these businesses stem from several factors such as “lack of understanding of cyber security risks, less prioritisation for safety and limited capital allocation, he said in a workshop here.

Allianz is said planning to offload large U.S. life portfolio

by | Sep 25, 2021 | ,

Such deals are attractive to insurers as it helps them manage risk. These insurance blocks have become popular targets for private equity buyers including Apollo Global Management Inc., which set up Athene Holding Ltd., and KKR & Co. as they seek to eke out returns in a low interest-rate environment. American International Group Inc. agreed in July to sell a stake in its life-insurance and retirement-services business to Blackstone, which will also manage some of the unit’s assets. U.S. insurer Prudential Financial Inc. said last week it would sell an annuities subsidiary for $1.5 billion to Carlyle-backed Fortitude Group Holdings LLC. 

Digital cos’ data hegemony may lead to ‘attention economy’, says CCI chief

by | Sep 25, 2021 | , , ,

While noting that rapid changes are happening in markets, which are increasingly shifting towards a digital platform-centric configuration,Competition Commission chief Ashok Kumar Gupta also pointed out that these platform markets are by their very nature “winner-takes-all or winner-takes-most”.

“Network effects, access to large amounts of data, economies of scale and scope, induced behavioural biases among consumers etc., in digital markets, may heighten market concentration and result in the creation of impermeable entry barriers,” Gupta said.