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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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Pre-trump trouble

5,436

What is it? The drop in approved new petitions of India-based companies for HIB visas in 2016.

Why is it important? The number represents a drop of 37% at 9,356 new petitions for the top seven India-based companies seeking approval in fiscal 2016, says a report by National Foundation for American Policy. It’s an indicator that the opportunities for Indian technology workers in the US started narrowing even before Trump administration took charge. The companies affected in 2016 include TCS, Infosys, Cognizant, Wipro.

Tell me more: Indian companies have been accused of flooding the visa lottery system earlier.

 

Rs 11,000 crore

What is it? The amount State Bank of India (SBI) is looking to raise in a share sale to qualified institutional investors (or a private placement).

Why is it important? The move to raise its capital base could bring in 73% of the equity capital (Rs 15,000 crore) that was approved to be raised in FY18 at SBI’s central board meeting in March. Meeting with Basel III norms and provisioning for bad loans have necessitated raising of fresh capital by Indian banks.

Tell me more: SBI had last sold shares in 2014.

 

Rs 100 crore

What is it? The cost of redeveloping a railway station in Bhopal, Habibganj, by Bansal Group. The work will commence on June 9.

Why is it important? This is the first redevelopment of an Indian Railways (IR) station through a public-private partnership. The project marks a major step to modernise and privatise IR. Not only upgrading passenger facilities at stations, this would boost IR’s non-fare revenues, for example, through land monetisation. The Bansal Group will invest Rs 350 crore for commercial development of land parcels around the station, on a 45-year lease, according to an agreement in 2016.

Tell me more: The Bhopal-based Bansal Group will be operating and maintaining the station for a period of eight years.

 

7

What is it? The number of countries which have cut ties with Qatar, the West Asian country, accusing it of supporting Islamist terrorism. Saudi Arabia, Egypt, the United Arab Emirates and Bahrain were the first to cut diplomatic and transport ties, followed by Yemen, Libya and Maldives.

Why is it important? The geopolitical rift among the Arab neighbours would have ripple effects on the globe, including oil prices, which dropped 1%. While both Saudi Arabia and Qatar have been accused earlier of funding Islamists and terrorists, Qatar has drawn the ire of others due to its supposed support of Iran. The boycott is being seen as a move to target Iran as well.

Tell me more: Qatar will bear the brunt of the ban as transport links with neighbours have been severed and will make food imports (40% of the nation’s supplies) and travel out of the country dearer. The Kerala Chief Minister Pinarayi Vijayan has raised his concerns for the650,000-strong Indian population in Qatar, by writing to the Centre.

 

10

What is it? The number of students whose admissions got rescinded at Harvard for posting obscene memes in a private Facebook group chat.

Why is it important? It’s an indicator of the worrying trend of social media being used to spread content which is obscene, hateful, abusive and even illegal; and how organisations are trying to tackle it. Last year, prospective students at Harvard who posted similar messages were let go with a strongly worded, but generic statement..

Tell me more: Social media platforms such as Facebook and Twitter have been making some attempts to clean up such content, but it has proven to be a difficult task. It might also be hurting these firms. Salesforce might have walked away from a Twitter acquisition deal last year because of Twitter’s inability to tackle abusive content.

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News in Numbers, Nov 18, 2016: The right note…

15 million

What is it? The number of new Rs 500 notes that have reportedly been printed by the Security Printing and Minting Corp of India, the government agency that prints notes and coins.

Why is it important? There seems to be a delay in the printing of this denomination as the order is to print 400 million by the end of this month. The reason for the delay is due to the presses at Dewas (Madhya Pradesh) and Nashik (Maharashtra) are running below capacity. The presses operated by the Reserve Bank of India (RBI), which are to produce the new Rs 2,000 notes, are now likely to take up the printing of the new Rs 500 notes to meet the demand. Printing of currency notes in Rs 100 denomination has been stalled, according to unnamed RBI officials, as the focus has now shifted to the new ones.

Tell me more: Before the demonetisation move, there were 16.5 billion Rs 500 notes and 6.7 billion Rs 1,000 notes in circulation.

 

789,000 barrels per day

What is it? India’s oil imports from Iran, according to a report by Thomson Reuters Oil Research and Forecasts and ship tracking data.

Why is it important? This exceeded Saudi Arabia’s oil supply to India by 92,000 barrels per day (bpd) and Iran is now the top oil supplier to India. However, Saudi Arabia still retains the top slot over the January-October period. With the Organization of the Petroleum Exporting Countries meeting at the end of this month to take its final call on cutting down production to boost oil prices, it remains to be seen if Iran continues to enjoy the exemption to be excluded from these price cuts, given its recent dominant position in oil supply to India, the world’s third-largest oil importer.

Tell me more: Due to the western sanctions imposed on Iran over its nuclear development programme, the country had slipped to the seventh position in 2013-14 and 2014-15 among the 50-odd countries from which India imports oil.

 

25 million

What is it? The capacity of a vaccine facility (in terms of number of doses) set up in Gujarat by CPL Biologicals, a joint venture of Cadila Pharmaceuticals and US-based Novavax at an investment of Rs 100 crore.

Why is it important? The company says it has become the first Indian company to have developed a vaccine to treat seasonal influenza (Cadiflu-S), which is also the world’s first influenza vaccine based on virus-like particle technology (VLP). The vaccine does not contain any viruses, which means it completely does away with the possibility of any infection to the vaccinated person from the vaccine (viruses present in vaccines can sometimes replicate in the human body, causing disease by itself).

Tell me more: CPL Biologicals says with the VLP technology, it can develop the new strain specific vaccine in 12-14 weeks compared to the 24-32 weeks it takes to develop a conventional vaccine. Cadiflu-S doesn’t contain egg proteins, antibiotics and preservatives, which would help those who are prone to allergies.

 

Rs 137.18 crore

What is it? Losses posted by food delivery startup Swiggy (owned and operated by Bundl Technologies) in 2015-16.

Why is it important? This is an increase of nearly 65 times of the loss it posted in 2014-15 (company started operations in August 2014). Swiggy’s revenue increased to Rs 23.59 crore in FY16 (from Rs 11.59 lakh a year ago) while its total expenses were Rs 160.77 crore, indicating that it burnt cash in order to scale up (a trend observed in many other startups such as Flipkart and Ola). Food startups have been struggling to get their economics right with some of them such as Eatlo and Dazo shutting down, some being acquired (FoodPanda acquired TastyKhana) and others downsizing their operations.

Tell me more: Swiggy reportedly has started charging consumers delivery fees for orders from a few food outlets, which have refused to pay a commission to the startup. Earlier, it was delivering for free from these outlets, which is unlikely to be feasible in the long-term.

 

5-100 basis points

What is it? The cut in deposit rates offered by various Indian banks. A basis point (bps) is one-hundredth of a percentage point.

Why is it important? This is a result of the government’s recent demonetisation move, which saw customers depositing old currency notes of Rs 500 and Rs 1,000, which have ceased to be legal tender since over a week ago. Lending rates are expected to come down as well. The Reserve Bank of India (RBI) has noted on several occasions that banks have not been passing on interest rate cuts to their customers. Between January 2015 and March 2016, the RBI has reduced its benchmark repo rate (the rate at which the apex banks lends to other banks) by 125 bps but public sector banks have lowered their base rate by an average of 55 bps while the private ones have decreased it by 50 bps.

Tell me more: The RBI introduced a new methodology for setting interest rates since the beginning of this financial year after which public sector banks have reduced their base rates by 15 bps on an average while the private banks have lowered it by 25 bps.

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News in Numbers – May 20, 2016

-0.1%

What is it? Net sales growth of 1,500 companies listed in stock exchanges in three months ended March 2016.

Why is it important? Near flat sales could be early indicator of recovery. In three quarters between March and December last year, sales of the same set of firms contracted by 5% and 7%. Consumer oriented sectors like auto, entertainment, garments and infrastructure companies performed well.

Tell me more: Fall in value of Rupee helped software and pharma firms to post double-digit sales growth.

20%

What is it? Increase in price of 1121 variety of Basmati rice in the last month to Rs 46 per kg in wholesale market.

Why is it important? The spike is due to impending rice ban to be imposed by Iran to protect its local farmers. The ban, which will be effective from July 23 this year, led to exporters signing contracts and export before the ban comes into force.

Tell me more: Basmati rice exports shrunk by 22% in dollar terms between April 2015 and February 2016. 1121 variety or known as PUSA 1121 rice is has dominant share in Basmati rice exports because of its grain length, aroma and non-sticky nature. For farmers, this variety needs less water and yields more.

260,000

What is it? The number of excess cancer-related deaths due to 2008-10 economic crisis in high and middle income countries.

Why is it important? Underlines the need for more government spending on healthcare. The 2008-10 economic crisis fueled unemployment, which in turn reduced the capacity of people to spend. This combined with absence of Universal Health Care led to deaths from cancer that could have been treated.

Tell me more: The data relates to the Organization for Economic Co-operation and Development, a grouping of world’s richest countries.

4,700 acres

What is it? Land claimed to be owned by Sahara Group that’s up for sale now.  

Why is it important? The sale is to meet the Supreme Court conditions to grant bail to Subrata Roy, chief of Sahara group. The apex court has demanded Rs 5,000 crore to grant bail, and another Rs 5,000 crore as bank guarantee. This is after the Sahara group failed to repay Rs 20,500 crore of deposits deemed illegal by the market regulator.

Tell me more: The sale of land is spread across 14 states. HDFC Realty and SBI Capital are managing the sales.

46.66%

What is it? The pass percentage of class 10 students in Bihar. The pass rate dipped by 28 percentage points from last year.

Why is it important? The sharp dip was due to measures taken by education authorities to curb cheating. This followed after pictures of mass cheating in an examination centre in Vaishali went viral.

Tell me more: Pass percentage of boys in Bihar was 54% as compared to 38% among girls – in contrast to the rest of the country where girls have higher pass percentage than boys.

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