Fewer companies close down in April

first_img24 May 2011Fewer companies closed down in April 2011 compared to the same month last year, Statistics South Africa reported on Monday.Liquidations recorded a year-on-year decrease of 25.4%, from 358 to 267, in April 2011, Statistics SA said.The number of liquidations recorded for the three months ended April 2011 fell by 7.3% compared with the same period of 2010. This was driven by fewer voluntary liquidations, dropping from 1 037 to 962 and fewer compulsory liquidations, from 59 to 54.Statistics SA said liquidations took place when the affairs of a company or close corporation were wound up because the liabilities exceeded assets, and the matter was resolved either voluntarily or by a court order.The total number of insolvencies for the first quarter of 2011 dropped by 30.5% (from 836 to 581) compared with the first quarter of 2010, the agency said.“A year-on-year decrease of 30.6% (from 360 to 250) was estimated for March 2011.”Statistics SA said insolvency referred to an individual or partnership which was unable to pay its debt and was placed under final sequestration.Recovery phase“The Stats SA trend-lines for liquidations and insolvencies have clearly entered long-term downward trends, with the figures for insolvencies, which relate to individuals, especially steep,” said Adam Harris, a director in the insolvency and restructuring department of corporate law firm Bowman Gilfillan.He said the decline for the three months to April 2011 compared to the same period in 2010, “was of a magnitude sufficient to indicate that the economy had entered a recovery phase”.Harris said the sectors hardest hit for the first four months of 2011 were financing; insurance; real estate; business services; wholesale and retail; catering and accommodation; and community, social and personal services.Sapalast_img read more

GoAir plans fleet expansion to hire 500 crew members

first_imgIndian budget carrier GoAir has announced it will expand its fleet size by March 2017. With an aim to expand its fleet size, the carrier also said it would recruit 500 crew members, including pilots.The Mumbai-based carrier said it plans to induct five new aircraft to its fleet, which means the airline will have a fleet size of 26 aircraft to fly overseas by next year. “We will expand our fleet by up to 26 aircraft by the end of March next year. We need to build up for the expansion that we are going for. Every aircraft (inducted) needs 100 increase (in manpower) approximately. So we will naturally hire,” Wolfgang Prock-Schauer, GoAir’s CEO, was quoted as saying by Press Trust of India.The expansion of the fleet would automatically result in hiring employees. At present, GoAir has about 2,300 employees. Schauer went on to explain that for every new aircraft the carrier requires about 14 pilots (to conduct smooth operations). Hence, for five new aircraft, GoAir aims to hire about 70 pilots. The Wadia group-owned airline has 21 aircraft in its fleet at present, which includes Airbus A320s and A320neos.New OrdersEarlier this month, GoAir reportedly received the government’s approval to fly overseas to nine countries. Some of the countries include Iran, Uzbekistan and Kazakhastan. In June, GoAir signed deal for 72 Airbus A320 neos at the Farnborough International Airshow in the U.K. The deal is estimated to be about $7.73 billion, Livemint reported.Five years ago, the budget carrier had placed an order with European aircraft manufacturer Airbus for 72 new A320 neo aircraft valued at about Rs. 32,400 crore on list price.IPO ListingGoAir is soon planning a stock market listing, just like its competitors InterGlobe Aviation (IndiGo airlines), Jet Airways and SpiceJet. Talking about the airline’s impending Initial Public Offering (IPO) debut, the CEO said the listing would happen at the right time.”We are preparing ourselves (for the IPO). Its a question of timing, it is about the right timing. We are not in a hurry. We will wait for the right timing. We want to be well prepared. There are many things which we need to look at (before going to stock exchange),” Wolfgang Prock-Schauer was quoted as saying by the agency. Market ShareIndia, currently the fastest-growing civil aviation market in the world, reported yet another month of double-digit growth in passenger volumes in July. The domestic carriers flew 85.08 lakh (8.5 million) passengers last month. GoAir recorded a market share of 8.4 percent in the month of July.last_img read more

Govt develops Energy Action Plan to ensure generation of worldclass electricity in

first_imgKolkata: The state Power department has developed a comprehensive ‘Energy Action Plan’ in order to generate world-class electricity in Bengal.The Power department has been exploiting all its resources to ensure that the people here in the state can avail the quality of electricity that is normally found in Western countries. In its attempt to produce best quality power, the state government has focused on the renewable energy sector. A senior official of the department said through the development of an ‘Energy Action Plan’, the department aims to produce the best quality electricity, at par with the Western countries, in the next 2-3 years. Also Read – Rain batters Kolkata, cripples normal life”We are venturing into the unknown areas of renewable energy sources and in the future years, there will be a paradigm shift from conventional energy to renewable energy. We are taking all necessary steps to make the whole process more sustainable. How the grid integration will be done remains a big challenge for us,” a senior official of the Power department said. In the last one year, more than 10 power sub-stations have been constructed across the state to maintain better quality of electricity and also to address the voltage problem that has often been reported from some pockets, the official added. In the solar energy sector, Bengal has already achieved a significant growth through various projects. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killedStressing on the generation of hydroelectricity, the Bengal government has taken up a number of new initiatives. Several hydroelectric projects are coming up on Teesta river, namely Teesta I, Teesta II, Teesta V, Teesta Intermediate state and Rammam Stage I in Darjeeling, each having a capacity of 80-84 MW. “The number of hydroelectricity resources is not plenty in Bengal. Despite the challenges, we are trying our best to generate hydroelectricity, which is one of our main focus areas in the state now,” the official said. It may be mentioned here that the Centre, during the Paris Convention in 2015, had vowed to catch up with other developed nations in the field of energy generation and power. The Centre has also made some commitments before the United Nations, saying that it will achieve the target of producing 40 percent of its power through renewable sources by the end of 2030. The overall carbon emission level in the country will also be reduced within the same period. India has so far been successful in generating 20 percent of its total power through renewable sources. The country will achieve the goal if all the states give more emphasis on renewable energy, thereby contributing towards the cause. Bengal is one of the states that has done a great deal of work on building infrastructure in the renewable energy sector. Since the Mamata Banerjee government came to power in the state, there has been a significant infrastructural reform in the energy sector. Power generation from solar energy has been given paramount importance through the launch of the ‘Aloshree’ project, a brainchild of the Chief Minister. To this end, solar panels have been set up on the rooftops of various government buildings, schools, colleges and other offices by the Power department.last_img read more

Promoting and preserving public art

first_imgFifteen artists from different backgrounds have gathered to showcase sculptures and installations on the theme of ‘Public art and its relevance’, at India International Centre. Titled ‘Sculpt for Delhi-II’, the group exhibition was inaugurated by Anil Baijal, Lt Governor, Delhi and Ambassador of Bulgaria Eleonora Dimitrova in the presence of Vijay Kumar Dev, Chief Secretary, Delhi.”Exhibitions like these offer a platform to express our thoughts through the medium of art, showcase our creativity, and bring it into the notice of concerned authorities. The authorities need to understand our strengths, and therefore use our potential in the best way possible. It is a way to communicate with them and discuss the importance of such installations and sculptures for artists as well as the public,” said Shovin Bhattacharjee, whose sculpture ‘Mystery of life’ highlights how urbanisation is destroying the nature. Also Read – Add new books to your shelf”I have tried to bring a mirror in front of the people to see the sad reality, and understand why it’s important to be sensitive towards nature,” he added. The show is conceptualised by artist and sculptor Neeraj Gupta, President, Delhi Art Society in collaboration with Indian International Centre, and will go on until March 19. Well-known artists including Bipasa Sen Gupta, Anjali Khosa Kaul, Asurvedh, Suresh Kumar, O P Khare, Sangeeta Gupta, Farhat Jamshed, Neeraj Gupta, Shreedhar Mukul Panwar, Kavita Nayyar, among others, have created tangible forms and figures of smooth stimulations, gradual escalation of symmetry and a hint of mystery for the ongoing exhibition. Also Read – Over 2 hours screen time daily will make your kids impulsiveOn this occasion, Lieutenant Governor of Delhi, Anil Baijal said that this exhibition will be a witness to the symbol of art and cultural influences, which the artists have raised with finesse. All artists have given their best to make this exhibition one of its kind. I have always been a fan of sculpture exhibitions, and I congratulate the Delhi Art Society and India International Centre for organising such an event with great enthusiasm.” Neeraj Gupta said, “This liberating form of art is a mystical practice, and thus brings together a dreamy amalgamation of form, features, ideations, and ideals. Art is what metamorphoses the world into a more humane world. ‘Sculpt for Delhi II’ is one such attempt to control your world to consecutively take over culture. Works of art displayed in public places are the magnets that may hold the public space together. They represent the relentless spiral of the energies of the people.”last_img read more

Hacking Doomsday Your Cyberattack Survival Checklist

first_img 6 min read Opinions expressed by Entrepreneur contributors are their own. On Oct. 21, 2016, the largest distributed denial of service attack (DDoS) in history was launched at around 7 a.m. EDT. It nailed servers belonging to a company called Dyn, an internet performance-management company that directs traffic for major sites.The Dyn attack caused a severe disruption of internet traffic to major sites, including many you may be familiar with, like Amazon, Reddit, Twitter, Tumblr, Verizon, Pinterest, Etsy, Spotify, PayPal, Comcast and even Playstation. The first attack was followed by at least two more.Back in 2012, there was a DDoS attack that took out the websites of JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and other financial companies. In 2007, a DDoS attack literally knocked most of Estonia off the grid.How do these attacks work? The hackers look for a distribution model that can deliver sufficient traffic — in this latest case, a webcam that had sold well and had easily exploitable security. Then they focus on a target. The target here seems to have been companies that act as the internet’s phone book, making sure that traffic requests find the fastest route to any particular destination.If you’re a fan of The Walking Dead, imagine a huge herd of zombies lumbering toward a valley with three fenced communities. While all three are in harm’s way, the one with the weakest fence will be overrun. The other two are more likely to withstand the onslaught.Another way to imagine this scenario is a subway car or bus contaminated with a cold virus. While everyone on board is exposed, not everyone will get sick. The virus goes where it encounters the least amount of resistance, which in this most recent attack happened to be Dyn.We can make this a problem of the past.While our government has disappointed time and again, in particular on matters of cybersecurity, a DDoS solution may possibly be only a rule or two away from becoming reality. That is, of course, if the new administration truly focuses on the issue.In that case Congress will actually agree on the day of the week to discuss the issue, and we can all say adios to the debate about whether the “Great Wall of Mexico” will be the answer to most of our problems.Related: Expert Hacker Shares 3 Ways Small Businesses Can Minimize Cybersecurity Threats The solution may lie in the way many ATMs now handle the new chip technology in credit and debit cards. When you make a request for cash or any other transaction, many machines will not release your card until you grab your cash or completely finish your transaction. This ensures that consumers don’t leave their cards in machines, which of course can create a very real vulnerability.When it comes to the Internet of Things (IoT) devices, the six billion (and geometrically increasing) connected and interconnected devices that surround us in our personal and business lives, the same principle might help. However, it would have to become the law of the land to work — a law that would include authority over trade, i.e., products coming in from overseas.Meanwhile, the “insert and release only when the transaction is completed” ATM process is a security measure designed to better protect your card, your accounts and your financial institution. If all IoT devices required the user to set a long and strong password before the device would function, a major vulnerability available for use by hackers in DDoS attacks would go the way of three-card monte scams.In the meantime, there are a few things you can do to put your organization in the best position to survive a DDoS attack. While these measures are somewhat technical, they are within the skill sets of whomever is in charge of your digital security.1. Identify a DDoS attack early.You can do this with the right Intrusion Detection System (IDS) or a state-of-the art firewall that uses “Stateful Inspection.” These are techniques that can alert you to an attack and allow you to respond before systems fail. Another good move: having a technology professional that is capable of identifying traffic that looks like a DDoS attack and is ready to respond by immediately applying filters to the inbound DDoS traffic.Related: 7 Cybersecurity Layers Every Entrepreneur Needs to Understand 2. Have plenty of bandwidth available.Bandwidth is pretty cheap, and if you are able to over-provision what you need, you can ride out smaller attacks or at least buy some time to react properly to larger attacks.3. Have a rule book.Apply the right technical defenses at your perimeter. For example, you could “rate-limit” your web server so that only so many traffic requests are allowed. This will keep your server from getting swamped. Doubtless, it will still slow down during a DDoS attack, but it won’t fail.There are other things you can do that are beyond a generalist’s knowledge, but are straightforward for a professional who handles the engine room of your online presence. One strategy is to add network rules that dump requests from suspicious places or deny all traffic that doesn’t come from trusted sources.Your IT team may decide it makes sense to time-out suspicious connections, drop malformed packages or set lower flooding thresholds on certain types of traffic. It is crucial to have these rules — however you choose to throttle them — applied to all routers and firewalls and even internal internet-working components to filter out the most common kinds of DDoS-type traffic.4. Get your provider involved.Your service provider will have better tools than anyone else when it comes to locking down the DDoS traffic headed your way. Alert the provider as soon as you see something. The company can even “null route” your address (a network route that goes nowhere) so you will see no DDoS traffic at all while it figures out how to neutralize the attack.5. Outsource your traffic.There are technical firms that specialize in filtering traffic for you in an emergency. When a DDoS attack occurs, all your traffic moves through one of their routers first, and they are very good at blocking all the DDoS traffic that would be coming your way.Related Offer: Experience ESET’s award-winning antivirus software right now with a 30-day free trial.While you cannot prevent someone from launching a DDoS attack against your company, you can be prepared to mitigate its impact. The key thing is to assume that it’s going to happen and be as ready for it as possible. Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals December 7, 2016 Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Register Now »last_img read more