Page 66 - Data Controller News Today

The Personal Data Protection Board (" Board") rendered a decision dated 24.11.2020 and numbered 2020/905 (" Decision") regarding a data controller insurance companys (" Data Controller") failure to take the necessary technical and administrative measures to ensure data security and to fulfill the obligation to notify data breach. In the data breach notification submitted by the Data Controller, it is stated that, (i) the data breach has occurred due to a cyber-attack imposed upon the test serve...

The Data Protection Commissioner has said she has concerns about the risks associated with the Minister of Children taking over as Data Controller of the archive of evidence given to the Mother and Baby Homes Commission when it is dissolved as expected on Sunday. Speaking on RTÉs Today with Claire Byrne, Helen Dixon said her office has been in almost constant contact with the Commission in recent weeks, and has been engaging with particular urgency about the redaction of the identity of witnes...

Pressure is growing for UK and US companies to move supply chains out of Xinjiang following recent measures by both governments to crack down on imports of goods linked to the Chinese region. However, analysts suggest that switching to new suppliers elsewhere in the country, or even in Asia, comes with similar risks. Amid international ...

The Indian government has pledged to pump US$2.7bn into a new development finance institution (DFI) as part of plans to galvanise infrastructure spending and help the country bounce back from the deleterious effects of Covid-19. The announcement was made in the country’s annual budget earlier this month, with India’s finance minister Nirmala Sitharaman stating that she would introduce a bill for setting up the new DFI with a starting capital of roughly Rs200bn. The ambition is to have a len...

The decline in global goods trade volumes caused by the Covid-19 pandemic appears to have been less drastic than predicted by the World Trade Organization (WTO) in late 2020, with export growth in Asia during the second half of the year matched by increased demand from other markets. In its most recent goods trade barometer, the WTO says growth in trade volumes remained strong in the fourth quarter of 2020, after a stronger-than-anticipated rebound during Q3. The UN Conference on Trade and Deve...

HSBC has hired Celine Herweijer as group chief sustainability officer, reporting directly to Noel Quinn, HSBC’s group CEO. She joins from PwC, where she most recently served as global innovation and sustainability leader, driving the consulting firm’s strategy and partnerships on innovation and emerging technologies, including on agendas such as responsible technology, tech ethics and ...

UK Export Finance (UKEF) has overhauled its supplier credit facility programme to make its support more accessible to the large proportion of SME trade that is financed by non-bank lenders. Launched this week, the British export credit agency’s new standard buyer loan guarantee (SBLG) allows it to guarantee a loan of up to 85% of a UK company’s export contract value, enabling British exporters to get paid upfront while their overseas buyers can repay the loan from their lender over a longer...

DBS Bank has provided a structured trade facility to Chandra Asri, Indonesia’s largest integrated petrochemical producer, to support the company’s efforts to boost export sales. The US$60mn short-term credit line is made up of both pre-shipment and post-shipment finance, which Tan Su Shan, group head of institutional banking at DBS, says will give the company the ability to “obtain, scale and diversify access to competitive financing”, as well as bolster the country’s balance of payme...

GTR can reveal. Court documents filed by GP Apac – a Singapore subsidiary of UAE-based oil giant GP Global Group – describe how the company ran into financial difficulties during 2020, prompted by pandemic-related disruption, a drop in demand for oil products, record low oil prices and Its chief restructuring officer and sole director, Rod Sutton of FTI Consulting, says evidence then emerged of “irregular commodity trades and/or fictitious trades where there was no actual transfer of any...

Impello Global, a trade finance advisory group and trade credit insurance brokerage headquartered in Seattle, has hired Matthew Handwork as its new head of structured trade finance. Starting with immediate effect, Handwork will work with lenders and manufacturers to grow the firm’s structured trade finance business globally. He will continue to be based in Columbus, Ohio. Handwork moves from his position as senior vice-president for credit specialties at Marsh JLT Specialty, a post he had bee...