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Cost Of Data Breach

10,000

What is it? The number of products that have faced sanctions in the ongoing trade war, primarily between US and China.

Why it’s important? It started with a mere 18 products in January when US imposed tariffs on solar panels and washing machine products, and shows how trade wars can escalate fast. European Union, Canada and Mexico also joined the fray. Among other things, it has hit China’s currencygold prices, and could hit US tech sector.

Tell me more:  In the latest salvo, US proposed more tariffs on $200 billion in Chinese products, and China said it would retaliate.

 

$3.1 billion
 

What is it?The combined value of 19 new planes ordered by Delhi-headquartered Vistara, a joint venture between Singapore Airlines and Tata Sons

Why is it important?It will help expand the fleet of the airline which is expected to launch its international service later this year. Of the 19, it has ordered from 13 Airbus and six from Boeing, making a departure from its earlier Airbus-only fleet. Some airlines prefer to stick to a single manufacturer to keep the costs low. Singapore Airlines has a mix of both. Vistara has ordered six Boeing 787-9 Dreamliners, to be used for international routes.

Tell me more: Vistara has a market share of about 4%, connecting 22 destinations with 800 weekly flights, in a highly competitive market ledby Indigo, Jet Airways and Spicejet.

 

592,800 barrels per day

What is it?India’s oil imports from Iran in June.

Why is it important? It’s down 16% from May, even as the US imposed sanctions on Iran. US wants to push Iran’s oil exports to zero, till it complies with a dozen conditions including disclosure of its nuclear programme and release of all US citizens held in the country. India has said it will take a decision based on its own national interest.

Tell me more: Iran is OPEC’s third largest oil producer after Saudi Arabia and Iraq; and India is Iran’s second largest oil importer after China. Some analysts believe US sanctions on Iran will backfire as higher oil prices.

 

$ 1.77 million

What is it?The average cost of data breach in India, according to a report by IBM security and Ponemon Institute.

Why is it important? It is up 7.9% from 2017, even though compared globally, it’s the lowest in India. As India journeys into digital world – driven by cheaper data costs and mobile phones, and competition among companies to offer digital products – it exposes itself more to data breaches. IBM said India saw a rise both in the number and in the sophistication of breaches.

Tell me more: While a mega breach – where 1 million to 50 million records get compromised – could cost anywhere between $40 million to $300 million, on average it costs about $3 million. The cost is the highest in the US at $7.91 million.

 

16

What is it?Number of people killed in Manipur and Uttarakhand in rain related incidents.

Why is it important? Highlights the risks from natural disasters. Seven persons lost their lives in Dehradun, Uttarakhand after their houses collapsed in heavy rains following a cloudburst. In Manipur, landslides set off by rains killed eight children and a woman.

Tell me more: India is not alone. In Japan, landslides and flash flooding caused by rains have already claimed 179 lives, its worst natural disaster since Fukushima earthquake in 2011.

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Tesla’s China Factory

5,00,000 units

What is it?Annual capacity of the car manufacturing factory that Tesla is reportedly planning to build in China.

Why is it important? This would be Tesla’s first major expansion beyond US, and comes at a time when US and China are fighting an escalating trade war; and when US president Donald Trump is openly antagonistic towards companies that are moving manufacturing outside US. He slammed Harley Davidson, America’s iconic motorcycle manufacturer for its offshoring plans. Meanwhile, China is opening up even further for FDI. It is expected to stop requiring foreign companies to have a local partner later this year, which would allow Tesla to own the factory 100%.

Tell me more: China is an important market for Tesla, accounting for 17% of its revenues in 2017. China is also fast emerging as a market for next generation of cars. Recently, it allowed Daimler to test its self driving cars in Beijing.

 

25%

What is it?Operating margins of Tata Consulting Services in the first quarter of 2018-19

Why is it important? The margins are up by more than a percentage point and a half compared same period last year, but shrank by 40 basis points from the previous quarter. It performed better than expectations, thanks in part to a recovery in banking, financial services and retail vertical.  It posted a net profit of $1.07 billion in the quarter.

Tell me more: Revenues from India shrank by about 1%, while growth in North America grew at its fastest pace in over three years.

 

22%

What is it?The rate at which India’s investment in clean energy went up in the first half of 2018 (to $7.4 billion), according to a report by Bloomberg NEF.

Why is it important? These investments will help the country move towards its goal of installing 175,000 megawatts (MW) of renewable energy capacity by 2022. In 2017-18, the country generated one lakh gigawatt hours of renewable energy for the first time.

Tell me more: Bloomberg NEF report said that in the last few years, the balance has shifted from Europe as largest clean energy investing region to Asia. Asia’s clean energy investments is mostly driven by China, which invested 17.6 billion in wind, and $35.1 billion in solar in the first half.

 

9

What is it?Number of states that got over 95% score in the ease of doing business ranking released by the government

Why is it important? The list published by Department of Industrial Policy and Promotion ranks the states and union territories based on 372 action points and feedback from businesses. Andhra Pradesh and Telangana topped the list, followed by Haryana, Jharkhand and Gujarat. Five states, Manipur, Sikkim, Arunachal Pradesh, Lakshwadeep and Megalaya scored less than 1%.

Tell me more:  This is the third edition of the list, and was published ahead of World Bank’s Ease of Doing Business, which ranks 190 countries. India was ranked 100 in 2017.

 

2,73,759 units

What is it?The number of passenger vehicles sold in June 2018 in India

Why it’s important? The sales are up 37.54% year on year, the fastest growth in nearly 9 years. This is thanks to a low base resulting from uncertainty over Goods and Services Tax last year and indicating that the growth rate is not sustainable. Three wheeler sales and two wheeler sales were up 55.89% and 22.28% year on year.

Tell me more:  The data, released by Society of Indian Automobile Manufacturers, showed Maruti Suzuki leading the pack. Passenger car sales were up 34.21% y-o-y to 1,83,885 units. Exports declined  7.37%.

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Samsung Makes In India

8.64 million metric tonnes

What is it? The quantity of coal imported by Indian power plants in two months ending May 2018.

Why is it important? This is down from 10.13 million during the year ago period, an indication that there could be a decline in power generation. The lower imports is thanks to higher coal prices (up 25% from year ago) and a weaker rupee.

Tell me more: Power plants designed to use imported coal have been running on lower capacity. Power plants in general are facing a shortage in coal supply, with coal stock of 15.3 MT in June, against the usual 35.5 MT.

120 million

What is it? The number of mobile phones Samsung can manufacture at its Noida factory after expansion.

Why is it important?This would make it the largest mobile manufacturing factory in the world, according to the South Korean mobile maker. It would invest  $716.57 million over the next three years to expand its plant capacity. It is expected to add 1000 jobs, and would help the government’s Make in India campaign.  The plant was inaugurated by Prime Minister Narendra Modi and South Korean President Moon Jae-In on Monday.

Tell me more:Last week, Samsung said its earnings in the second quarter grew at the slowest pace in more than a year. Analysts attributed it to the slump in sales of its smartphones.

6
 

What is it? The number of educational institutions that have been granted ‘eminent’ status by the government of India, enabling them to get Rs 1000 crore of government funding over the next five years. 
 
Why is it important?  The Human Resource Development ministry faced criticism for including Reliance Foundation’s Jio Institute, which is yet to be set up, in the list. The other five are well established. HRD ministry later said it was included under the under Greenfield category for new or proposed institutions. 

Tell me more:The other five educational institutions are: Indian Institute of Science, Bengaluru, the Indian Institutes of Technology at Mumbai and Delhi, Manipal Academy of Higher Education and BITS, Pilani.
 
 
8549

What is it? The number of products for which China has agreed to cut import tariffs, in an agreement with India. India, in turn, has agreed to cut tariffs for 3142 products.

Why is it important? The Indo-China agreement comes at a time when China is fighting a trade war with US, raising concerns about globalisation, and economic growth. From cars to whiskey, a range of products are likely to feel the impact.

Tell me more:In China, the reduction in tariffs for Indian medicines, especially anti-cancer drugs, which costs a tenth of its alternatives, has caught attention. A recent Chinese film on cancer, Dying to Survive, highlighted the high costs and the need for Indian drugs.

52 crore

What is it? Tax amount charged on Indian Institute of Management for the years 2009-10 to 2014-15, on the fees it collected for four postgraduate programmes.

Why is it important?The premier B-school has appealed to Human Resources Development ministry for help. It’s likely to emerge as yet another high profile tax disputes. The government has often been accused of ‘tax terrorism’ arising from “high unrealistic target setting, leading to high-pitched assessments, and the long time taken to settle appeals.”

Tell me more:Revenue department has slapped charges considering the institute to be a ‘commercial coaching centre.’ The dispute has been going on for some years, with IIM-A arguing that it is liable to pay service taxes for its consulting revenues, and not for educational programmes such as PGP.

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Kharif Deficit

14.2%

What is it? The deficit in Kharif plantation this year compared to last year due to rainfall shortage, according to data released by the agriculture ministry.

Why is it important? The government has cited the shortfall of 8% rainfall as the reason for the lower plantation. In Gujarat, Madhya Pradesh, Chhattisgarh, Odisha, West Bengal, Jharkhand, Bihar and Uttar Pradesh, the rains are deficient by 19% or more.

Tell me more:The Kharif season is mainly rain-led, and the four-month monsoon is critical as more than 50% of the agricultural land in India lacks irrigation and is rainfall-dependent. Among Kharif crops, only the area under sugarcane (a crop requiring extremely high amount of water) is higher than last year.

9

What is it? The number of political parties opposed to simultaneous Lok Sabha and assembly elections.

Why is it important?At a consultation meeting held by the Law Commission, as many as 9 parties objected to the proposed move to hold simultaneous elections, while 4 parties supported the move. The two national parties, BJP and Congress, stayed away from the consultations.

Tell me more:This is the Law Commission’s second set of deliberations on the subject to get political opinions from across the spectrum. It gains significance in view of the speculation on whether the four assembly elections slated to be held in the next 6-8 months in Chhattisgarh, Rajasthan, Madhya Pradesh and Mizoram could be delayed or advanced to kick-start the first step towards synchronizing them with 2019 elections.

0.87%

What is it? The percentage amount by which dues of big wilful defaulters of Punjab National Bank (PNB) fell.

Why is it important? Bank data has shown that dues from big wilful defaulters has fallen to Rs 15,354 crore on June 30, against Rs 15,490 crore last month. According to PNB, big wilful defaulters are those who have borrowed more than Rs 25 lakh and haven’t paid back, even though they have the ability to do so.

Tell me more:The public sector bank has been grappling with mounting non-performing assets, scams and frauds. PNB also witnessed a sharp decline in asset quality, with gross non-performing assets amounting to 18.4% of gross advances at March end.
67,000

What is it? The number of students enrolled in the Cambridge Assessment International Education (CIE), a provider of international qualifications, from India.

Why is it important?This represents a 50% increase in student enrollment from India since 2013, as parents are looking at international qualifications for their children. Higher enrollment in CIE is increasing the number of schools (420 in 2017) that offer this international qualification. These schools, in general, charge much higher fees than other private schools.

Tell me more:Assuming that each of the 67,000 students spend an average of Rs 10,000 per month, the 420 schools would earn Rs 804 crore in one year.

55,000

What is it? The number of South Korean women who protested against pervasive use of spycam pornography.

Why is it important? South Korea has the world’s highest penetration of smartphone at 95% of population, and this wide access coupled with high-speed internet has created a wave of online porn videos using spycams. The protestors were demanding stricter punishment for offences.

Tell me more:The number of spycam crimes in South Korea increased to 6,500 in 2017, as compared to 1,100 in 2010. Creating sexual images via spycam can attract a jail term of 5 years or a fine of $8,970. In reality, protestors at the female-only protests say, convicted people receive lighter punishments.

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