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Demonetisation tanks automobile sales to 16-year low

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New Delhi, Jan 11, 2017: Post demonetisation the sale of Automobiles in India for December fell the most for a month in 16 years with total vehicle sales declining by 18.66% as notes ban hits the industry hard.

According to data released by Society of Indian Automobile Manufacturers (SIAM), sales of two-wheelers slid 22 percent in December 2016 compared to the figure in December 2015, marking the highest monthly contraction since SIAM started recording the data since 1997.

Scooters, motorcycles and cars account for almost 75 percent of total vehicle sales and are a significant indicator of rural demand.

Vehicle sales across categories registered a decline of 18.66% last month at 12,21,929 units, from 15,02,314 units in December 2015, as per SIAM. “This is the highest decline across all categories since December 2000, when there was a drop of 21.81% in sales. The reason is largely due to the negative consumer sentiment in the market due to demonetization,” SIAM Director General Vishnu Mathur told media.

Except for the light commercial vehicles segment, which saw a growth of 1.15% at 31,178 units, all the other categories of the industry saw the decline in sales in December, he added.

“Almost half of two-wheelers sales comes from rural markets, which have been hit hard by demonetisation,” said Vishnu Mathur.

Alongside the grim auto sales numbers, there was bad news from the corporate sector and the realty segment. A primary survey conducted by SBI Research between December 30 and January 3 showed that the demonetisation drive had impacted 69 percent of businessmen in the country’s financial capital of Mumbai and the manufacturing hub of Pune.

Sectors such as construction and informal roadside trade were the worst hit by the note-ban, according to findings of the survey that covered different formal and informal business groups to ascertain the effects of demonetisation on a daily business.

A total of 175 responses were recorded and analysed, of which 40 per cent respondents were from Mumbai and the remaining 60 percent from Pune and nearby areas.

He also added that Delhi-NCR market was hit hardest with sales volume dropping by 53 per cent to 6,765 units in the fourth quarter of 2016 while new launches fell by a massive 73 per cent. Knight Frank tracks the primary housing markets of eight cities — Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune and Ahmedabad.

Wefornews Bureau

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India 7th most targeted nation for Web Application Attacks: Report

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Bengaluru, Feb 21: Nearly 40 per cent of over 53,000 cyber attacks in India occurred in the financial services sector during 2017, placing it at the seventh spot in the list of targeted countries for Web Application Attacks (WAA), a new report said on Wednesday.

Security incidents like phishing, website intrusions and defacements, virus and ransomware targeted the rapidly growing of the Banking, Financial services and Insurance (BFSI) sector in India, warranting a robust infrastructure and planned roadmap for cybersecurity, said the report from content delivery network services Akamai Technologies.

“A key motive of attackers has always been financial profit. In the past few years, we have seen adversaries move to more direct methods to achieve that goal such as ransomware,” noted Martin McKeay, Senior Security Advocate at Akamai.

“Crypto-mining offers attackers the most direct avenue to monetise efforts by putting money immediately into their cryptowallets,” McKeay added.

The report, titled “Akamai State of the Internet Security Q4 2017,” also stated that the Distributed Denial of Service (DDoS) attack frequency in the BFSI sector increased by 50 per cent in the fourth quarter of 2017 over the last quarter.

It also placed India seventh in the list of the top source countries for WAA.

“While India maintained the same position in the third quarter last year, it is interesting to note that the attacks sourced have seen a drop of approximately four million in number as compared to last quarter,” the report said.

The newly-released data that analysed more than 7.3 trillion bot requests per month found a sharp increase in the threat of credential abuse, with more than 40 per cent of login attempts being malicious.

This indicates that DDoS attacks remain a consistent threat and the Mirai botnet is still capable of strong bursts of activity.

Akamai’s findings also confirmed that the total number of DDoS attacks last quarter increased 14 per cent from the same time last year.

“The hospitality industry suffered as the biggest target of fraudulent credential attacks, with 82 per cent of their login attempts being from malicious botnets, the report said.

The financial industry saw a sharp increase in the number of DDoS attacks, experiencing 298 DDoS attacks against 37 distinct organisations last quarter.

There was a 31 per cent increase in DDoS attacks sourcing from the US last quarter compared to the same timeframe in 2017, the report said.

With Inputs from IANS

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Google reveals security flaw in Microsoft Edge

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San Francisco, Feb 20: Google has made public the details of a medium-level security flaw in Microsoft Edge browser whose patch is still not produced.

The vulnerability was first discovered in November 2017, by the search giant’s Project Zero.

According to Engadget, taking advantage of the flaw, hackers could bypass Microsoft Edge’s existing security measures to inject malicious code into a victim’s computer.

Google, through its Project Zero, notified Microsoft about a bug in November, giving the company the usual 90-day disclosure deadline.

With the three-month deadline over, the team of security analysts employed by Google tasked with finding zero-day vulnerabilities — Project Zero –went public with the details of the security flaw.

The search giant granted a 14-day extension to Microsoft after it said that the problem was complex and it needed more time to fix it.

But, Microsoft even missed the second deadline to produce the patch of the vulnerability. However, given Edge’s small market share, the security issue was unlikely to affect too many people though it is still embarrassing for the company.

IANS

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M-tech launches 4G smartphone at Rs 4,499

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New Delhi, Feb 19: Domestic mobile manufacturer M-tech on Monday launched a new 4G VoLTE smartphone “Foto 3” at Rs 4,499.

The device comes with 5-inch FVWGA LCD display and is powered by 1.3 GHz quad core processor paired with 1GB RAM and 8GB internal storage, which is expandable upto 32 GB.

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“With ‘Foto 3’, Internet-savvy users can now avail super-fast data connectivity and superior voice call quality. We are positive that the ‘Foto 3’ will certainly appeal to our customers,” Goutam Kumar Jain, Co-Founder, M-tech Informatics Ltd, said in a statement.

The device runs Android 7.0 Nougat operating system (OS) and houses 2400 mAh Li-Ion battery. It also sports 2+ VGA dual rear camera and a VGA front camera.

The product is available on both online and offline platforms.

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