Indian

India plans more power islands to counter cyber, terrorist threats

The plan follows a major power outage in India’s financial hub Mumbai last year that brought the city to a halt and prompted speculation about a cyber attack. The year before, the country’s nuclear power monopoly reported computer systems at one of its generation plants had been attacked by malware. Power grids the world over are increasingly digitalized, leaving them vulnerable to such attacks.

Islanding systems feature generation capacity and can isolate automatically from the main grid in the event of an outage. For the new systems, provinces need to submit proposals for setting up generation and storage capacities, power minister Raj Kumar Singh Singh said

Govt changes rules related to incorporation of companies

Section 16 relates to rectification of a company name subject to various conditions, including that the government may direct changing a firm’s name if it is identical with or too nearly resembles the name of an existing company. In case such a direction is issued, the same has to be implemented by the company concerned within three months.

International

Major Bluetooth bug leaves devices vulnerable

As Engadget reports, the KNOB attack allows hackers to interfere with the Bluetooth pairing procedure by making the connection’s encryption key shorter than required. This makes it easier for hackers to intrude and spy on data shared between devices.

Total cost of risk up 2% in 2018 due to rising insurance rates:RIMS

Reversing the trend of falling average TCOR per $1,000 of revenue seen from 2013 to 2017, average total cost of risk (TCOR) rose from $9.75 per $1,000 of revenue in 2017 to $9.95 in 2018. The marginal increase in TCOR was driven primarily by slightly higher liability, property, and workers compensation costs.

Global recession coming soon! Yield curves invert in US & UK 

The gap between two- and 10-year yields dropped below zero on both sides of the Atlantic after a wave of soft economic data globally. Weaker-than-forecast Chinese retail sales and industrial output set the mood for the markets, with data later in the day showing Germany’s economy contracted, adding to the gloom. 

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