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30 Oct 2023 — 4 min read

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Hedge Funds Increasing India Presence:

Global hedge funds are increasingly moving their operations to India, a market that was previously not a major focus for international investors.
This interest is sparked by India's expanding market size, improved liquidity, and its potential as an alternative investment destination to China. Notable players such as Singapore's Dymon Asia Capital and Citadel Securities are now establishing a stronger presence in the country, despite past concerns about tax issues and investment hedging options.
Dymon, which manages about $2 billion in assets, is in the process of applying for an investment advisory license and is opening an office in Mumbai. The co-CEO of Dymon, Mark Wong, has noted a significant shift in the company’s investment focus, highlighting India's growing contribution to returns and risk management in their overall portfolio, especially in the last two years.
This move by hedge funds reflects a broader trend in various sectors, including technology, where major corporations like Apple are also increasing their investments in India. The country’s attractive economic prospects, rich talent pool, and stable regulatory environment are key factors drawing these investments, showcasing India’s rising stature as a reliable and lucrative market for global investors.

Boeing’s Cybersecurity Threat:

Boeing is currently investigating a serious cybersecurity threat from the Lockbit hacking gang. On Friday, the company announced that the group claims to have stolen a significant amount of confidential data and is threatening to release it online unless a ransom is paid by November 2nd.
The hackers have set up a countdown on their website, warning Boeing to make contact before the deadline, or face the consequences. Lockbit is known for its strategy of encrypting a victim's system and stealing sensitive information for blackmail purposes. "We are assessing this claim,” stated a Boeing representative via email.
Last year, Lockbit was identified as the most active ransomware group globally, having claimed a large number of victims and posted about them on their data leak blog, according to the U.S. Cybersecurity and Infrastructure Security Agency (CISA). The agency also revealed that since its first appearance on Russian cybercrime forums in January 2020, Lockbit has launched 1,700 attacks on U.S. entities.
As of now, the details of the alleged data breach, including the volume of stolen data and the ransom amount, remain undisclosed. Boeing has chosen not to provide additional comments, and the Lockbit group has yet to respond to requests for comment. The situation continues to unfold, with many waiting to see how Boeing will handle this cybersecurity threat.

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