BB alerts banks of malware risks

Bangladesh Bank has recently alerted banks and non-bank financial institutions that they are at risk of cyberattacks and asked them to heighten their guard against malware and viruses. Malware like the banking Trojan TrickBot — which can steal financial details, account credentials and personally identifiable information — are at large. Subsequently, the BB in a letter on July 10 requested banks and NBFIs to deploy cybersecurity best practices such as regular patch updates of ICT systems, the use of licenced software and other solutions, regular penetration tests to assess the vulnerabilities in sensitive systems, constant monitoring and storage backup. The central bank also asked banks and NBFIs to notify of any recent incidents of malware attacks and the actions taken by July 13. It also sought a detailed account of the preventive and reactive measures from cyberattacks by July 20. Since 2016, approximately 5,576 cyber incidents were registered by BGD e-GOV CIRT, the government agency responsible for maintaining the country’s cybersecurity. The cyberattacks targeted the government, start-ups and the financial, military, industrial, trade and commerce, healthcare and energy sectors.

Source: https://www.thedailystar.net/news/bangladesh/news/bb-alerts-banks-malware-risks-3372546

 X Ceramics, Dysin to invest $42m in ceramics, textile chemicals

Two Bangladeshi companies will invest $42 million to build factories in the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) for manufacturing ceramics and textile chemicals. X Ceramics Limited ‍and Dysin Advanced Materials Limited will set up their factories on 30 acres of land. Once up and running, these factories are expected to create employment for 1,691 people, according to sources at the Bangladesh Economic Zones Authority (Beza). X Ceramics Limited will build a ceramics factory on 20 acres of land in BSMSN with an investment of $28.65 million. This factory will employ 1,559 people. The company was incorporated in 2008 with the Registrar of Joint Stock Companies. The other company Dysin Advanced Materials Limited will invest $13.32 million on 10 acres of land to build a textile chemical factory where 132 people will be employed.

Source: https://www.tbsnews.net/economy/x-ceramics-dysin-invest-42m-ceramics-textile-chemicals-667662

 Oil surge to $80 shows long-awaited market tightening is here

After languishing for months, crude surged above $80 a barrel in London last week as fuel demand in China and elsewhere recovers from the pandemic to reach new highs. That’s happening just as production cutbacks by Saudi Arabia and its Opec+ allies are set to rapidly drain storage tanks around the world. It’s still far from clear whether Brent crude’s return to $80 a barrel is a turning point that heralds a major price rally. Economic storm clouds still darken the horizon, from shaky Chinese indicators to rising interest rates, and barrels of cut-price crude continue to flood from Iran and Russia. Oil-watchers spent the first half of the year lowering their price expectations. They abandoned initial calls for a return to $100 a barrel in the face of lacklustre economic growth, even as Saudi Arabia made repeated efforts to juice prices with production.

Source: https://www.tbsnews.net/world/oil-surge-80-shows-long-awaited-market-tightening-here-666570