Archive: April 30, 2021

The fallout over Brexit: why are the assets in Luxembourg sweating?

Could it be that this country, which gave the world the former president of the European Commission – Jean-Claude Juncker, became one of the biggest Brexit-winners? We already know that Paris, Amsterdam, Frankfurt, and Dublin all benefited from Britain’s EU departure, as most of the financial institutions (up to this point mostly based in London) opened there to make sure, they still are present in the EU structures.

LFF (Luxembourg for Finance) has been founded 13 years ago with the goal of promoting the country’s service industry. And right now they are doing everything they can, to not be seen as someone who tries to capitalize on the new environment.

Robert Jarvis from the LFF reminds that they actually campaigned for the United Kingdom to remain as a part of the European Union integration. He stressed how much Luxembourg needs the strong position of the European Union. He’s actually putting it in a very simple equation. When something makes the European Union weaker (and the Brexit certainly did so), it automatically makes the country of Luxembourg weaker.

The results (and gains) of the people and companies moving are short-term and do not equalize the losses caused by Brexit. Jarvis even compares Luxembourg and London to brother (of course the capital of England was the bigger one).

 LFF owns a MoveToLux.com website. They started even before the initial EU-exit referendum organized in the UK in 2016. This automatically raises the question – “How many professionals actually moved to Luxembourg after Brexit?”. There is no precise data, but the estimates say that there have already been around 3,000 of them. LFF predicts that this number could grow to even 5,000.

The numbers aren’t that impressive, but if you take the scale into the consideration, they actually are, as Luxembourg’s population fairly exceeds 600,000 citizens. So yes, a creation of even a couple of hundreds of jobs has a big impact on the country.

64 new companies have opened their Luxembourg presence after the United Kingdom’s referendum. 31 of them are actually working in asset management. The rest are insurance (13 of these), banking (11), as well as fintech and investment (respectively 6 and 3). Jarvis also had something to say about the new businesses. According to him, they all found their local solutions on a small, typical of the country, scale.

 Citigroup, JP Morgan, and Goldman Sachs

Citigroup was one of the first institutions to make Luxembourg their new home. In 2017 their private banking segment moved its headquarters to the city and has since settled in very well. Gregor Bollen from Citi’s structures shared the bank’s perspective on Brexit.

Those events have complicated a lot for them, as they could no longer service clients from all across the EU while being based in London. The practical consequence of the UK’s decision was the move in order to be still able to work with their clients. This doesn’t of course mean that London has been empty since – Citi still employs over 8,000 people there, as the city still hosts the EMEA HQ.

Citi has actually shown how smart (or lucky) they were. They had their EU clients booked in the bank based in Dublin. Thanks to that, Luxembourg was set up as Dublin’s branch, which saved a lot of administrative mess and stress for everyone.

Goldman Sachs managed to register an entity based in Luxembourg as well, and the whole private banking by JP Morgan has been moved there too. The latter actually chose the country as their new European Union headquarters.

Should you want to read more about Luxembourg’s prediction for the future and Brexit response, visit the original Ian Hall’s piece published by Disruption Banking: https://disruptionbanking.com/2021/03/17/brexit-fallout-luxembourg-sweats-its-assets/.

SRM University-AP celebrates the exorbitant success in Maiden Batch Placement 2021

SRM University-AP initiated its journey in the year 2017, and now it is time to bid farewell to the maiden batch of students. The university is proud to share that 92% of the graduating students are placed successfully. About 500 companies visited SRM campuses during the Placement drive, including Amazon, Adobe, Infosys, HealthRx, Bank of America, Standard Chartered, and many more have offered exhilarating opportunities. Students of the founding batch have received one or more job offers in reputed companies with the highest CTC of ₹29.5 LPA an average salary of ₹6.2 LPA, and over 57% of offers were Super Dream and Dream offers. The Campus Placement drive is still on and best efforts are put in to ensure that all the students are placed.

Dr P Sathyanarayanan, The founder and President established this university with a vision of providing quality education to the students who will not only be able to secure a position of their choice but also add value to society. It has been an incredible journey so far, and the students made the university proud with their excellence in academics and extra-curricular activities. “Acknowledging the needs of the hour, SRM University-AP is dedicated to devising strategies to mould students to become global leaders,” said Dr Sathyanarayanan.

The university took it as a challenge to find the best job offers for its deserving students. The Department of Corporate Relations and Career Services (CR&CS) was deeply involved in providing students with the best training and placement opportunities. SRM University-AP believes that every student is filled with numerous possibilities, and they can scale greater heights if their potentials are explored wisely. The students of the maiden batch proved the vision.

“We always bring the best to our students when it comes to their training and personality development. The thoughtfully crafted training sessions, in close coordination with industry and corporate experts, rigorous aptitude tests, mock interview rounds help students to excel in the interviews and placement rounds”, informed Mr M S Vivekanandan, Assistant Director, CR&CS.

Sri Ritika Katragadda, a final-year student in the Department of Computer Science and Engineering secured the highest pay package. She expressed her joy, saying, “Though we were the first graduating batch of SRMAP, the outstanding experience in the past four years in academics and placement training made us so confident that we cracked the long hiring process with ease”.

Prof V S Rao, Vice-Chancellor, SRM University-AP, opined, “Our university is the flag-bearer when it comes to inculcating quality, value, and excellence among the students in order to make them an asset to society. The maiden batch placement programme was bound to be a success as it was not a job hunting for our students, rather, finding opportunities to contribute to the society, putting into use their intellect and innovative ideas”.

Leading companies offer much-needed support to their employees amid the COVID-19 surge in India

India is currently rallying against a devastating second wave of the COVID-19 outbreak. The country’s key metro cities such as Delhi and Mumbai are registering record growth in cases day after day. Amid the ensuing chaos, certain employers are going the extra mile to keep their teams protected. From vaccination drives to precautionary medication, here’s how India Inc is helping its employees and to provide vaccination who are above 18 from 1st May:

Infosys

Leading IT company Infosys has set up COVID care centres at Pune and Bengaluru for its employees and their families and is in process of setting up similar facilities across its major offices in the country. Infosys has also tied up with COVID-19 testing labs across the country and collaborated with emergency ambulance providers in every major city. The company has partnered with 1,490 hospitals in 242 cities in India to enable treatment for its employees and their family members.

‘In order to support employees and their family members who have contracted COVID-19 and need special medical care beyond home quarantine, Infosys has set up Employee COVID Care Centres in Pune and Bengaluru. These centres would be managed by Ruby Hall hospital for Pune, and Manipal Hospitals for Bengaluru. We have established vaccination centres at some of its campuses across India in collaboration with healthcare partners.’ said Infosys.

Leverage Edu

The leading ed-tech start-up is currently providing free vaccines to employees and their families. Working closely with its team, the company is running from pillar to post to secure beds and oxygen in New Delhi. While its overseas education business is peaking amid growing vaccinations and falling infection rates in the United States and Canada, the company is focusing all its energies on helping employees through this challenging period.

Bharti Singh, Sr Manager – HR at Leverage Edu said, “As things started to get bad last week, Akshay asked us to set up a small team to help internally. That very quickly scaled into we are helping patients and their families across the country, bulking up the team, and being able to help more than 300 people already. Alongside, Akshay also recently announced free vaccines for all of our 200 employees & their families, & at the moment we are also working towards setting the logistics of it. It’s empowering to work in a missionary company, where the focus is on always doing the good, all else later.”

SMOOR

Multiple crucial initiatives have been undertaken by the Bangalore-based premium couverture chocolate brand. While offering COVID insurance for each employee including drivers, SMOOR has also procured oxygen cylinders for emergency scenarios. Apart from this, antibiotics and precautionary medications have been procured and steamers have been bought for those who cannot afford them. Finally, a free vaccination drive for employees and their families is being planned for the near future.

“The COVID-19 outbreak has impacted all the companies and their employees. At SMOOR, our employees are our priority and we are taking all possible steps to help them through this crisis. Over & above our regular medical insurance, we have taken a special COVID specific insurance for all our employees. We have procured medication for in-home quarantine and first-line treatment as a precautionary measure (such as paracetamols & multivitamin supplements). Additionally, streamers have been sourced for our employees too. We have made arrangements to deliver food safely and hygienically from our kitchens to the homes of our staff in the event they or their family members get affected & are home isolated. Finally, we are planning a vaccination drive for our employees, the expense of which will be borne by the company. We stand with our team during these tough times and hope that they and their families remain safe” said Vimal Sharma, Founder, and CEO, SMOOR

StanPlus

Already contributing to the healthcare industry with reliable ambulance services in Hyderabad, StanPlus is collating a complete health safety net for any employee who gets infected. Employee insurance offered by the company already covers COVID-19 and complete PPE kits have been provided to everyone. For people who fall sick with COVID-19, StanPlus is offering a quarantine leave, which will not count towards sick leave. Moreover, employees can take leaves whenever they feel overwhelmed due to the ongoing situation in the country. Of course, the company is also offering local ambulance trips and seeking out bed availability for employees and their families – free of cost. It is also contributing to institutional quarantines for its team if required. As and when directed by the government, StanPlus will provide vaccinations for the entire team. In doing so, these companies are displaying unmatched commitment to the health and safety of their employees, solidifying the truth which is now widely and irrefutably accepted – we are all in this together.

“The pandemic has increased the emphasis on the ‘human connect’ aspect of the HR function. Startups always run in a super dynamic and fast-paced environment, and this element is even more prominent now for those operating in the healthcare sector. At StanPlus, we handhold our employees if they or anyone in their families is affected by covid. Quarantine facilities and emergency services are provided at no cost. We ensure that our people on the ground have a sufficient supply of PPE kits and sanitizers always. Considering the industry StanPlus operates in, we realize the pressure and secondary trauma our people go through. Therefore we have taken away the concept of sick leaves. The employees have the liberty to take leaves whenever they feel overwhelmed. We are tackling these uncertain times as a family”, said Prabhdeep Singh Founder and CEO StanPlus

From Vidyadaan To Jeevandaan…

As India’s largest cities wrestle with an unprecedented rise in COVID-19 cases, Ahmedabad is no exception. With thousands of new cases every day, the city’s medical infrastructureis under increasing stress. To face this unpredictable evolving challenge, Ahmedabad needs more space, more hands, and more care.

In support of the state’s fight against the virus, theAdani Group will open a COVID Care Centre(CCC) in Ahmedabad. Under the stewardship of the Adani Foundation, the Adani Vidya Mandir school campus in the city will be converted into a supportive care facility for COVID +ve patients.

This facility aims to lighten the load onthe city’s government and private health infrastructure and will take care of those who are isolated from their families. This isolation facility will also protect their other family members and contribute in slowing down the spread of COVID-19.

“The government and healthcare institutions are pooling their resources to contain this fast spreading pandemic. Wemustsupport them in every possible way we can,” said the Adani Foundation.“We expect to leverage our Group’s execution experience in rapidly putting up the infrastructure at the Adani Vidya Mandir. We will convert our school’s halls of learning into halls of life – from vidya-daan to jeevan-daan.”

Through the Adani Vidya Mandir CCC, the Adani Foundation will provide patient beds, nutritious food, and medical care. The conversion process involves arranging accommodation and resting units for both patients and medical personnel, setting up technical facilities to provide medical oxygen, medical suppliesand monitoring systems. Adani teams will also put in place the registration, reporting and security protocols required by the government, the city administration and state health authorities.

“During discussions with our Hon’ble Chief Minister Shri Vijaybhai Rupanion how the Adani Group can contribute in this unprecedented situation, this challenging task of creating a COVID Care Centre in 3 to 4 days was taken up by the Group,” said the Adani Foundation. “The Govt of Gujarat has been extremely proactive and helpful in this endeavour.”

The Adani Group has already been using its global business relations and logistic expertise for sourcing and importing critical essentials like 40+ ISO cryogenic containers for oxygen supply, 20 oxygen plants each capable of supporting 100+ oxygen beds hospital, 120 oxygen concentrators and 5000 oxygen cylinders from Singapore, Saudi Arabia, Thailand and Dubai. The Group also supports oxygen refilling requirements on continuous basis at many places.

The Adani Group is also closely working with Noida Authority to set up a similar COVID Care Centre in Noida.

The CCC initiative is rooted in the Adani family’s philosophy of giving back to society. Through the Adani Foundation, the family has been driving education, healthcare, and skill-development campaignsin over 2,400 locations in 18 states.

ImaginXP launches India’s first Virtual ECM – Education Counseling Mela 2021: Understanding careers and higher education opportunities in future skills for university aspirants and their parents

New Delhi, April 30th, 2021: ImaginXP one of India’s leading providers of university embedded and partnered future skills degree programs has launched India’s first Virtual ECM (Education Counselling Mela) 2021. The event mission is to help guide and counsel lakhs of Indian undergraduate and post-graduate aspirants in discovering lucrative career opportunities in future skills and explore available degree programs in these skills. In the absence of erstwhile physical education fairs, conclaves, and university visits, students are finding themselves at a loss to make the right career and education choices which ImaginXP hopes to bridge with this virtual event.

Participated by over 80 corporates, 100+ industry experts, recruiters, startup founders, policymakers, and 30+ universities from across the country, this is a unique opportunity for students to get their queries answered on careers, recruiter expectations, degrees, and skills that are valued in the industry and impact of the pandemic on the job market. The India Skills Report 2019 states that only 46.2% of students were found employable or ready to take up a job after completing higher education.

In 2019, 53% of Indian businesses were unable to hire candidates due to a lack of future skills. The ImaginXP virtual ECM will help students explore future skills degree programs in streams such as UX design, product management, HealthTech, FinTech, RPA, Data Science, IoT, Cybersecurity, and more which are required in the modern digital economy. Students will get to interact with experts such as Smitha Suryaprakash – President & CDO Moon Raft, Yaduvendra Mathur – Ex. IAS Officer & CMD Rajasthan Financial Corporation, Ankush Tiwari – CTO Quest Digital & IIT Kanpur Incubation, Anand Jha – CDO Miko, Patanjali Somajayi – CTO CAPITAL Float, Vidhika Rohatgi – Founder FCUX Design & CDO EY INDIA, Vivek Singh – Ex UX/UX Director CarDekho & GirnarSoft, and many more.

Commenting on the same, Prof (Col) Shishir Kumar, Director General, ImaginXP says “We want to support the PM’s vision of making India a $5trillion dollar economy. This will require our youth to be ready with the future skills required for the digital economy. It is extremely important for the young aspirants and their parents to discover the amazing opportunities available and strive towards choosing education and degree which will enable them to make lasting careers. Our mission is to provide these students with the right mentorship, guidance, and counseling needed to make this decision through experts, recruiters, universities, faculty members, and students.”

Additionally in May ImaginXP will also be launching an augmented reality (AR) counseling experience to support the ECM where students can take virtual tours of partner universities, explore degree programs and programs provided by them and have personalized sessions with select counselors and mentors to clear doubts and answer any queries. Mohit Chitkara – Vice President Chitkara University commenting on the Virtual education counseling mela says “This is a unique opportunity for students to interact with and hear from industry experts, recruiters, and educationists and receive much-needed counseling to choose career paths and degrees. It is commendable that ImaginXP has set up such a counseling platform which connects students and their parents with the university, industry, and peers to take guidance from.”

Aiming to create exclusive programs to upskill India’s blue and grey-collared professionals, OckyPocky ties up with Quess

New Delhi, 30th April, 2021:The future of jobs will be defined by technology. In order to stay relevant in the hyper-competitive job market, professionals need to adopt continuous learning in order to keep their skillsets up to date. Against this backdrop, OckyPocky, India’s first interactive learning app, has tied up with Quess, a global workforce management company, to create exclusive learning programs for India’s largest pool of talent in the blue and grey-collared space.

Over the next 12 months, OckyPocky will be creating and deploying targeted upskilling programs for Quess’s workforce and their families as part of the latter’s Employee Benefits Program. These digital programs will allow professionals to strengthen their skillsets and expand their capabilities to achieve greater success. It will also allow their family members to gain new skills and commence or grow their careers during this challenging period.

Amit Agrawal– OckyPockySpeaking on the partnership, Mr. Amit Agrawal– OckyPocky, said, “Having successfully created interactive learning modules for kids, we are now expanding our ambit by catering to working blue collared professionals in partnership with a domain leading company such as Quess. We are looking forward to creating top-notch upskilling programs for Quess and contributing to enhancing the country’s vast talent pool.”

Adding to this, Mr. Ajay Kumar Singh, Head, People Services, Quess, said, “We are extremely delighted to partner with OckyPocky for the Quess Employee Benefits Platform. With this partnership, our overarching goal is to provide quality education and skill enhancement experience for Quess’sworkforce and their families. OckyPocky brings the right mix of classes delivered in a digital format at an affordable price, which will perfectly suit our diverse workforce.”

About OckyPocky

OckyPocky was established in the year 2017 with a vision to target parents of small-town kids who face challenges with English speaking. The innovative start-up was founded by former YouTube India head and IIM Bangalore alumnus Amit Agrawal. He decided to bridge the gap for ‘Bharat’ thereby building a better foundation for its future generations at a stage where it really matters.

OckyPocky – The Octopus is based on the theme of Channapatna Toy, which assists children with their English learning needs using AI/NLP behind the screens. Unlike other video apps, OckyPocky gives feedback and allows kids to build an early year vocabulary foundation with voice, video, and vernacular. OckyPocky runs with a motto, “Skills That Matter”. With this as their philosophy, they help children develop creativity and logical reasoning besides English skills. The classes are delivered by OckyPocky’s highly competent, industry-leading teachers, who are trained in teaching.

GBP Group plans to bring multiple real estate projects in Punjab

One of the most trusted developers of the Tricity region, GBP Group has been relentlessly working to change the face of real estate in Punjab. The Group has plans to deliver 20 lacs sq ft residential and 10 lacs sq ft commercial by 2022. The total investment in all the projects would be around Rs 1600 crore.

The group has a futuristic project in the commercial segment called Centrum, a versatile project by GBP Group that will become Tricity’s third-largest commercial space slated for completion by Dec-2022. The upcoming commercial space offers a wide range of inventory in retail shops, Multiplex, Soho, Office spaces, studios, hotels, banquet halls, and food courts.

The group has also ventured into providing residential plots at GBP Smart City in Mohali. The cost of this project is 100 crore and will be funded through promoter funding and bank loan. The plots are close to Airport Chowk, the epicenter of bustling activities, and an upcoming four-lane expressway is slated to be fully functional in a year; apart from this Kharar-Ambala has all the amenities to have a fine livability quotient. Aerocity and IT City are nearby two ambitious commercial projects that will be providing the residents with an array of options in retail, entertainment, and recreation when fully operational.

Overall, the Group is planning to launch five new projects this year, two commercial and three residential, in areas like Peer Muchalla, Airport Road, New Chandigarh, Derabassi, and Mohali extension. The three months post lockdown saw GBP Group selling 295 units, which corresponds to around Rs 200 crore of business. The units were in Camellia in Kharar (90), Athens (100 units) in Zirakpur, Techtown (30) in Mohali, Centrum (30) in Zirakpur, and Dera Bassi (45).

Elaborating more on the vision of the group, Raman Gupta, Director, Branding & construction, GBP Group, said, “We are very positive with our delivery timelines, it is only possible due to the support from our associated stakeholders. The lockdown has established multiple trends in the real estate sector, it is only a matter of time that some of them would stay. Customer preferences have changed to a great extent, real estate is increasingly being viewed as an investment opportunity by a large section of buyers, this was not the case in pre-COVID times. The prevalent market scenario is also motivating for the buyers to enter into a real estate agreement. Our efforts remain to offer a real estate development for the distinct sections of buyers through our multiple projects.”

Hype expands its services to serve the fast-growing luxury mobility rental market across 19 cities in India

April 29th, 2021: Hype Luxury Mobility Rentals, India’s first and premier luxury car rental brand has now expanded its services to cater to the fast-growing niche market. It had grown to serve 19 cities across India over the recent months, covering, Ahmedabad, Bangalore, Chandigarh, Chennai, Cochin, Coimbatore, Delhi NCR, Goa, Hyderabad, Indore, Jaipur, Jodhpur, Kolkata, Mangalore, Mumbai, Madurai, and Pondicherry. In 2017, when Hype first started its operations, it had launched the services across seven cities in the country. Today, it is growing at 300-400 percent month-on-month and strives to provide the best customer experience.

After successfully traversing the metros and Tier I cities in India, Hype is now focussing on Tier-II cities and looks forward to serving Lucknow, Kanpur, Ranchi, and Baroda markets also in the year 2021. With the business is picking up rapidly, the organisation is eyeing 300% growth in the fiscal year 2024.

Talking about the organisation’s expansion plans, Raghav Belavadi, Founder and CEO, HYPE Luxury Mobility, said, “Since August 2000, there has been a sudden spike, which is four to five times increase in the number of tourists renting our luxury cars. The demand from different regions in India, drove us to expand our operations in other cities as well.” He also added, “With the unlocking, we have seen a significant increase in the demand for renting our luxury cars for weekend getaways with families and friends, and expect the trend to continue.”

Recently, Hype added 1,000 luxury cars and now has a fleet size of more than 14,000 with over 6,000 luxury and 8,000 premium cars. There has been an increase of 3-4 times in bookings, which has led the organisation to double its fleet size. Hype runs on an aggregator model, working with dealers and manufacturers. In luxury car renting, people prefer self-drive to chauffeur-driven with a ratio of 60:40. The top preference in Bangalore is Mercedes Benz, followed by BMW, which is the general trend in South India and Mumbai as well. In North and East India, the demand for renting Audi is high.

Car rentals are certainly more sustainable as they are more environmentally friendly than owned vehicles. People’s preference for experiential luxury by renting is also on the rise. Moreover, the tech-enabled platforms with GPS, telematics, and security systems providing enhanced navigation and safety features are appealing to today’s customers. The rise of international tourism, exposure to luxury services, increase in smartphone penetration, higher disposable incomes, and better road infrastructure are some of the growth drivers in the luxury mobility rental market.

11 Wickets ropes in Pappinder Singh as its brand ambassador, launches a campaign to promote the app

The humorous campaign conceptualised and executed by Shreyansh Innovations aims at telling people why playing on its app is the real deal

11 Wickets ropes in Pappinder Singh as its brand ambassador, launches a campaign to promote the app

Mumbai, 30 April 2021: Pappinder Singh is a witty man. Pappinder Singh knows the difference between the smart and the naive. Also, Pappinder Singh is a Puppet, but as humanlike as any one of us and he is now the face of 11 wickets, an online fantasy cricket league.

11 Wickets has released a series of films to create awareness around its offerings. Along with the humanlike puppet, the campaign also features his roommate, a simple guy who takes everything Pappinder says on its face value without understanding it completely. This hilarious banter between the guy’s fascination for a particular food and Pappinder’s animated outburst at this guy’s simpleton arguments draws across an analogy between the unique features of 11 Wickets, creating memorable stories.

Conceptualised and executed by Shreyansh Innovations, one of Kolkata’s leading creative ad agency, the campaign has 3 films which are live across TV and all digital channels, including social media and OTT.

FILM LINKS:

FILM 1: https://www.youtube.com/watch?v=7q1rmZR9ZWU

FILM 2: https://www.youtube.com/watch?v=OZKhJBhxUXg

FILM 3: https://www.youtube.com/watch?v=Q-7AT1esDeI

Suraj Chokhani, Managing Director, Ability Games
Suraj Chokhani, Managing Director, Ability Games

Suraj Chokhani, Managing Director, Ability Games, commented on the campaign, “When the agency came up with this thought of onboarding Pappinder Singh for the campaign, we instantly liked it, because it was very fresh in the advertising domain as a whole. We believe this approach will get a lot of people talking about our brand and also our brand ambassador.”

Shreyansh Baid, Founder, Shreyansh Innovations
Shreyansh Baid, Founder, Shreyansh Innovations

Shreyansh Baid, Founder, Shreyansh Innovations, says, “Today advertising is dominated with the excessive use of celebrities, and the same goes when it comes to promoting fantasy league platforms as well. We wanted to move away from this clutter, and have a brand ambassador on board that people will truly relate to and remember for a long time.”

Debdarsan Dutta (Chief Creative Officer) and Vaishakh Jhunjhunwala (Creative Director)
Debdarsan Dutta (Chief Creative Officer) and Vaishakh Jhunjhunwala (Creative Director)

Adding to it, Debdarsan Dutta (Chief Creative Officer) and Vaishakh Jhunjhunwala (Creative Director) from Shreyansh Innovations said, “Fantasy Gaming is becoming a very huge domain with millions of players getting added every day. But what isn’t happening is the way these apps promote themselves. All of them look and sound the same when it comes to their offerings. That’s the barrier we wanted to break with a clutter-cutting campaign that doesn’t just talk about its unique features in an interesting way but also creates a high recall value for the consumers. We hope Pappinder Singh and his flatmate, are able to do exactly that.”

Credits:

Client: Ability Games

Managing Director: Suraj Chokhani

Chief Marketing Officer: Suman Paul

Agency: Shreyansh Innovations

Founder: Shreyansh Baid

Creative Team: Debdarsan Dutta, Vaishakh Jhunjhunwala, Vidhi Agarwala, Sruti Ghosal

Account Management Team: Monalisa Mitra, Shruti Vohra

Digital Team: Vikas Parihar, Priyasha Bhagat

Comment from Tenable on BadAlloc flaws

Microsoft disclosed more than 25 critical memory allocation vulnerabilities in OT and IoT devices that could enable an attacker to bypass security controls and execute malicious code or cause a system to crash in industrial, medical, and enterprise networks.

“Vulnerabilities such as the BadAlloc flaws underscore the need for critical infrastructure and manufacturing organisations to have continuous visibility into the devices used in their production environments. It is no longer sufficient to evaluate your risk ‘with a clipboard’ on a periodic basis. When the CISO comes to ask if your organisation is exposed to these latest vulnerabilities, you should have the answer immediately. Not being able to answer that question gives attackers the upper hand.

Since these vulnerabilities are in the Real Time Operating Systems that are the foundation of many OT and IoT devices, the end user may not actually know that they rely on these products. Hopefully, the OT OEM vendor community will evaluate these vulnerabilities and determine if they are a risk in their products. We always advise owners of OT to work with their vendors on how to appropriately mitigate vulnerabilities in critical devices. This case is no different.” — Marty Edwards, VP of OT security, Tenable