Much has changed in the U.S. politics over the last one month. Biden’s performance in the presidential debate a month ago played into the Republican narrative that he is too old for the office, allowing Trump to get away with his untruths and exaggerations.A fortnight later, President Trump narrowly survived an assassination attempt. Trump picked […]

Hungarian Prime Minister Viktor Orbán met Chinese President Xi Jinping in Beijing on Monday, 8th June. The meeting follows Orbán’s visits to Russia and Ukraine in the past week, and comes a day before NATO’s 75th anniversary summit. Orbán is by far the most Russia-friendly leader in the EU, and threatens to undermine the European […]

On Monday, 8th June, Philippine defence minister Gilberto Teodoro and Japanese foreign minister Yoko Kamikawa signed a bilateral Reciprocal Access Agreement (RAA), which allows for further cooperation and coordination between the armed forces of the two countries. This includes training exercises as well as increased access to equipment for visiting forces. The RAA represents growing […]

Iran will hold a run-off election this Friday, 05 July after hardline candidate Saeed Jalili and reformist Massoud Pezeshkian, both failed to secure 50% plus one vote needed for an outright victory in the presidential race. Pezeshkian led the first round with 42.5% of the vote, followed by Jalili with 38.6%. At 40%, the turnout […]

Last week Xi Jinping travelled to Europe after a long period during which many in Europe have been very critical of China’s position on Russia’s invasion of Ukraine, trade and human rights. China has steadily lost ground in Central & Eastern Europe with China’s perceived support for Russia souring relationships in a region with history of Soviet domination. Italy has walked […]

On 15 May 2024, the Deputy Prime Minister Lawrence Wong, 51 will take over as Singapore’s Prime Minister from Lee Hsien Loong, the leader since 2004. He will become only the fourth prime minister in nearly 60 years since independence. Lee Hsien Loong, the elder son of Singapore’s architect, founding father and the first Prime Minister […]

In a strategically significant move, India has inked a 10-year deal to operate #Chabahar, a deep water port in Iran – a strategic gateway to Afghanistan, Central Asia, Russia and the larger European Region, bypassing Pakistan. Along with the proposed India Middle East Europe Corridor (#IMEEC), it will provide India with an alternative route to […]

Rising tensions between Ethiopia and Somalia have stoked fears of greater instability in the Horn of Africa. Somalia said on Thursday it was expelling Ethiopia’s ambassador, closing two Ethiopian consulates (in Hargeisa, the largest city and capital of Somaliland, and Garowe, the capital city of the semi-autonomous region of Puntland) and recalling its own ambassador […]

Covid-19 exposed the fragility of global supply chains. It made supply chain resilience a priority for national and corporate leaders. The list of challenges confronting the global supply chains continues to be long – from geopolitical tensions and conflicts to natural disasters, terror attacks, piracy and industrial accidents. The conflict in Ukraine disrupted global food, […]

Moscow-massacre On 22 March 2024, camouflaged gunmen stormed into Crocus City Hall Moscow, opened fire on concert-goers and set the building ablaze, killing at least 139 people. 𝐈𝐒 𝐜𝐥𝐚𝐢𝐦𝐬 𝐫𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲: The Islamic State in Khorasan Province (ISIS-K), has claimed responsibility via its Amaq news agency. The existence of a highly graphic video filmed by attackers, their use […]

Risk management includes identifying, assessing, responding to, and monitoring threats to a company’s overall setting in the marketplace and its total earnings. Risks begin from a range of sources, including technology, natural disasters, internal systems, legal liabilities, company branding, compliance needs, and more. Assessing these risks is important to every company, as understanding the weak […]

Operational risk management in current business trend is the monitoring and mitigation of risks that arise due to a failed process, system or a series of events. The risk and thereby loss incurred due to the failure of procedure can bear financial losses either indirectly or directly. For instance, poor customer service can indirectly hamper […]

Operational Risk Management (ORM) is a systematic process aimed at recognizing, evaluating, and addressing the operational risks confronting an organization. It involves establishing a comprehensive framework and executing strategies to alleviate the consequences of potential events that might impede the realization of an organization’s objectives. An Operational Risk Framework serves as a methodical approach utilized […]

Supply chain risk management, as a concept, involves identifying and addressing various risks associated with supply sources, including suppliers, third-party dependencies, physical locations, and other factors. Given the multitude of risks companies face today, effective supply chain risk management can seamlessly integrate into a company’s overall risk management strategy, adding an extra layer of control. […]

What constitutes a Dynamic Risk Assessment? A Dynamic Risk Assessment entails an ongoing safety procedure enabling workers to swiftly recognize and evaluate risks and hazards in real-time, mitigate them, and proceed with work securely. It involves regularly observing and analysing high-risk or dynamic work settings, facilitating prompt yet informed decision-making. Dynamic risk assessment plays a […]

What is Third party risk management? Third-party risk management (TPRM) is a critical aspect of an organization’s overall risk management strategy. It involves identifying, assessing, and controlling risks that occur due to interactions with third parties. Third party here refers to vendors, suppliers, service providers, and other external entities with whom an organization interacts. The engagement […]

Operational risk is the risk of loss as a result of ineffective or failed internal processes, people, systems, or external events that can disrupt the flow of business operations. These operational losses can be directly or indirectly financial. Operational risk can also refer to both the risk in operating an organization and the processes management […]

The future of operational risk management is dependent on the increase in efficiency and efficacy for risk managers, and their capacity to anticipate future risks will set the course for its development. The future of operational risk management is also dependent on technical breakthroughs that might enable data integration and risk minimization. With external variables […]

As businesses navigate through complex environments and operational risk examples, understanding & effectively managing operational risks becomes paramount.

There are several types of operational risk management (ORM). This blog delves into the various types of ORM and risks involved and explains these briefly.

Operational Risk Management definition serves as a critical framework for identifying, assessing & mitigating potential risks faced in daily business operations

What: A march to Delhi for Indian Farmer Protest is scheduled on 13 February. The march is organized by the Samyukta Kisan Morcha and Kisan Mazdoor Morcha against the union government. Why: The march is organized to advocate for their demands which include the enactment of a law to guarantee Minimum Support Price (MSP) for […]

Argentina News: Country witnesses massive protests against reforms proposed by the President Javier Milei's government especially in the capital Buenos Aires.

Locations Affected: Pakistan Pakistan News What: The general elections in Pakistan have been scheduled for 08 February. Security measures have been announced in the country to ensure a smooth undertaking of the elections. Why: As Pakistan approaches its general elections on 08 February, it is highly likely that protests, rallies, attacks by militant groups and […]

In Feb 2021, Myanmar’s military leaders seized power ousting the elected government of Aung San Syu Kyi. Three years on, the resistance to the military rule continues. Ethnic Armed Organisations (EAOs) and People’s Defence Forces (PDF) control many towns across the country. Indian Government has decided to fence the 1,643-km Indo-Myanmar border. It is reconsidering […]

“After decades of battling against more ethanol going into cars, Big Oil is joining Big Agriculture in a push to expand use of the corn-based biofuel,” reports Bloomberg. The rise of electric cars is set to curb both liquid fuels, bringing oil & farm groups closer together. Fossil-fuel giants are ramping up investment in renewable […]

Senegal’s Parliament ignited a firestorm of controversy by approving a delay in the presidential election, propelling the West African nation into unprecedented political turmoil. This “Senegal Delays Election” decision, as widely dubbed, sparked violent protests and heightened fears for the country’s democratic stability. The vote was rescheduled to Dec 15 from Feb 25 after a […]

Geographically large, scantily populated, ecologically fragile mountainous Ladakh is India’s super-sensitive centrally-administered northern union territory (UT) sharing borders with China and Pakistan. It was hived off from Jammu & Kashmir (J&K) in 2019, following the abrogation of Article 370. While the restoration of statehood for J&K – with assembly – is likely this year, Ladakh […]

Introduction In a world fraught with externalities, as well as internal risks, an organisation’s overall resilience to such risks is defined by its Operational Risk Management. Operational Risk Management is relevant and essential for all organisations across all sectors and industries, as operational risks can fundamentally impact any organisation’s growth, financial stability, employee safety and […]

Pakistan, the world’s fifth most populous nation (241 million; 2/3rds below age of 30), will hold national elections on Feb 8 amid political & economic instability. 128 million voters will elect 266 members of 16th National Assembly. 5,121 candidates from 167 political parties are in fray (94% males). 60 seats are reserved for women & […]

Locations Affected: France, Germany, Belgium, Spain, Italy, Greece, Netherlands, Poland, Romania What: Countries across Europe, including France, Greece, Spain, Netherlands, Belgium, Poland, and Romania, are witnessing protests by farmers against falling incomes and rising imports. Various unions across the European countries, including the FNSEA in France, Algemeen Boerensyndicaat (ABS, General Farmers Syndicate) in Belgium, and […]

French farmer protests stand against unfair prices, taxes, & water shortages. Farmers demand lowering consumer prices & reduction of environmental regulations.

New Covid Variant Cases in India: The JN.1 variant differs from Pirola variant by a single mutation. It is highly transmittable with mild symptoms like Omicron.

Ram Temple at Ayodhya will be inaugurated on 22 Jan 2024. It is spurring an unprecedented economic boom in Ayodhya & much of India. Ram Temple, Spiritual Tourism & Mandir Economy Temple & the economic transformation: The construction of Ram Mandir with an investment of INR 18 billion is not only a significant religious project, […]

Ram Mandir Live Updates: On 22nd Jan 2024, Indian PM Narendra Modi inaugurated the Grand Ram Temple in Ayodhya amidst VIP guests.

Israel Hamas War News: The brutal war enters 100th day with no light at the end of the tunnel. Israeli Military says the war will stretch through much of 2024.

Israel War News: Since mid-November 2023, the Houthi militants in northern Yemen have been conducting armed attacks near the Bab-el-Mandeb strait. Read More.

North Korea News: Over 200 artillery shells launched in the border region with South Korea, reacting to a US-South Korea joint firing drill with heavy weapons.

Israel Current Affairs: Israeli Defense Minister Yoav Gallant has outlined proposals for the future governance of Gaza after the war. Know The Four Corner Plan.

Pakistan Election Updates: Grappling with massive economic & political crisis, 127 million voters will cast their ballot in the general elections on 08 Feb 2024

Drones are useful but pose threats of drone attacks. Read how they can also deliver explosives, bombs & other dangerous items intended to harm critical systems.

Middle East News: Killing of Senior Hamas Leader, Explosions in Iran & Shipping disruptions at Red Sea raise risk of escalation in the Israel-Hamas conflict.

Read Exclusive election pdates from South Asian Countries exclusively delivered by MitKat Advisory and datasurfr as 1.5 Billion head to vote in 2024.

Read Bangladesh Election Updates exclusively delivered by datasurfr as a Muslim-majority liberal nation of 170 million, heads to polls 7th Jan 2024.

Bomb threats pose a significant security concern for businesses and institutions. The severity and possibility of the risks to businesses can vary, but their occurrence can result in public panic, disruption of normal operations, injuries, casualties, and property damage. Bomb threats can be received via email, phone calls, handwritten notes, mail, and social media post. […]

AI industry reached an important milestone In Dec 2023 with the publication of ISO/IEC 42001:2023 the ground-breaking AI Management System Standard. Read More

Global supply chain woes continue. Earlier, drought hampered shipping through Panama Canal. Now, transit through Suez Canal (12% of world trade) is impacted due to rising threat levels in Red Sea. Iran-backed Houthis, in control of North Yemen, have targeted ships using drones & missiles since Israeli offensive in Gaza. According to New York Times, “The […]

A new climate deal has been agreed at COP-28 – it calls on all countries to transition away from fossil fuels – but not to phase them out, as many countries wanted. Summit President Sultan Al Jaber called the accord “historic” but added that its true success would be in its implementation. Several countries cheered the deal […]

On Monday, 11 December 2023, in a landmark judgment, the Supreme Court (SC) upheld Modi Government’s August 2019 decision to end the special status of Jammu & Kashmir (J&K) by abrogating Article 370 of the Constitution.The bench directed the centre to restore statehood to J&K earliest and to the Election Commission to conduct legislative assembly polls by 30 […]

After a nationwide referendum, Venezuelan President Nicolas Maduro has revived claim over the disputed oil & mineral-rich disputed Essequibo region (area of 61,776 square mile / 159,000 sq km or two-thirds of Guyana’s national territory) – which is generally accepted as part of Guyana. He has directed the country’s state-owned companies to “immediately” explore and exploit the […]

After a seven-day ceasefire involving release of 100 Israeli hostages and 240 Palestinian prisoners, #Israel has resumed offensive, expanding the operations to central #Gaza, particularly Khan Younis, the second largest town and a key Hamas stronghold. Nearly 1.9 million or two-thirds of the population of #Gaza has been displaced. According to Hamas sources, 16,248 people […]

In assembly elections in five states, battling heavy odds, BJP secured emphatic wins in three Hindi heartland states – Rajasthan, Madhya Pradesh (MP) and Chhattisgarh. Markets cheered the BJP win reaching record highs on Monday. Indian National Congress (INC) secured an impressive win in Telangana defeating two-term chief Minister KCR of Bharat Rashtra Samiti (BRS) – […]

https://youtu.be/AkL8eL8omAkAccounting for the Impact of Climate Change in Business Continuity PlanningThe threat landscape for businesses is evolving significantly due to climate change. According to the World Economic Forum’s 2023 Global Risks Report, climate-related events and ramifications account for the top five global risks for the next decade. While climate change is often characterized as a […]

In a welcome development, Israel and Hamas have agreed to a four-day humanitarian pause for a prisoner exchange deal. Qatar which mediated the agreement, announced that the starting time of the pause will be announced within the next 24 hours and shall last for four days, subject to extension. Israeli cabinet approved the ceasefire with […]

“The most important bilateral relationship in the world” – Xi Jinping thus described the US-China relations as the two leaders met last week for the first time in nearly four years amid strained relations.The Guardian said, “The US and China cannot afford a rancorous economic breakup, much less a war. A few of the most […]

Undersea cables carry 95% of transnational internet traffic & trillions of dollars of global commerce; protecting these from accident or sabotage is vitally important. UNCLOS does not explicitly prohibit states from treating these as legitimate military targets during wartime. Threats Unintentional physical damage is the most common hazard – of the 500 cable lines, >100 […]

Wealth and fame come with their own set of challenges. The perception of threats to high net worth individuals (HNIs) is rising; so is the demand for comprehensive, protection programs designed and executed by professionals who understand threats, plug the vulnerabilities, and ensure robust security and peace of mind.Executive Protection comprises two distinct words – understanding […]

Syunik (Zangezur in Azeri), a thinly populated, strategically important tiny southernmost province of Armenia separating Azerbaijan from its western exclave of Naxcivan (or Nakhchivan), and sharing a 40 KM southern border with Iran, is emerging as a geo-political hotspot. A transport corridor through Zangezur (promoted by Azerbaijan & supported by Turkiye; opposed by Armenia & Iran) would give […]

Myanmar’s military rulers are under pressure since three ethnic armed groups launched a coordinated offensive in late October. They made significant inroads in military-controlled areas on the border with China in Shan State seizing control of several towns & >100 security outposts. What makes this offensive by the insurgents significant is that it marks the […]

The War in Gaza – five weeks on Barbaric attack by Hamas on 7th Oct 2023 led to 1,200 Israeli deaths & 240 hostages – the deadliest day for Jews since the Holocaust. Israel launched “Swords of Iron” to: Destroy Hamas terrorist organization & infrastructure Release all Israeli hostages In relentless Israeli operation, over 11,000 […]

A month after Hamas’ brutal attack on Israel, where >1,400 people were killed & >240 taken hostage, the war in Gaza continues, with no end in sight. Israel Defense Forces (IDF) have been striking >400 targets in densely populated Gaza every day. >10,000 have been killed in Israeli strikes. Buildings have been destroyed. Escalation in […]

In today’s complex and rapidly evolving business landscape, risk management has become a paramount concern for organizations across various industries. Traditional risk management methods, while effective, often fall short when it comes to dealing with the intricacies and unpredictability of contemporary risks. However, emerging technologies are reshaping the risk management landscape, and one of the […]

The debate on the moral alignment of artificial intelligence (AI) has been intensifying and the calls to regulate it growing louder. Geoffrey Hinton, the Godfather of AI, quit his job to speak freely about the technology’s dangers. An open letter signed among others by Musk and Wozniak had called for a moratorium on the development […]

Travel Risk Management: Ensuring Safe Journeys A critical determinant of post-pandemic work mechanisms revolves around the gradual yet steady Back-to-Office guidelines, with employees across the business landscape transitioning from remote, then hybrid, and now to full physical work schedules. Employee commute, therefore, is subject to a host of operational challenges and difficulties which require close […]

China recently organised a high-profile event marking the 10th anniversary of the Belt and Road Initiative (BRI) – an ambitious undertaking to boost connectivity and trade across the world with Chinese investment and know-how.  BRI, the signature foreign policy project of Xi Jinping and hailed as a “project of the century” is a symbol of […]

Geopolitics trumps geo-economics The world is witnessing unprecedented geopolitical turbulence – a high-intensity Hamas-Israel war with thousands of casualties and potential for escalation, 600-day long conflict which reshaped the security and energy architecture of Europe and seems to have no end in sight, deepening hostility between global powers, and trade protectionism undermining the global trading […]

50 years after the Yom Kippur War, Israelis woke up to another massive attack on a Jewish holiday. Hamas Military Commander has announced the start of Operation ‘Al Aqsa Flood’ against Israel. Palestinian militant organization Hamas fired thousands of rockets into Israel, breached heavily fortified border defenses, entered Israeli settlements, and took Israelis hostage.  Israeli […]

Nagorno-Karabakh has been a long-running conflict. On 19 Sep 2023, Azerbaijan launched an offensive & regained control of the enclave. Authorities have indicated that the ethnic Armenian enclave would dissolve on 01 Jan 2024. Nagorno-Karabakh, a mountainous region in South Caucasus, with 95% ethnic Armenian population, predominantly Christians (with close historical & socio-cultural ties with […]

In parliamentary election in Slovakia, the former prime minister Robert Fico’s left-wing populist Smer (Direction) party secured 23% votes, defeating pro-EU Liberal Progressive Slovakia Party (18% votes). The three-time former PM won the election on a pro-Kremlin & anti-US stance, vowing to halt military aid to Ukraine. Fico campaigned on a rhetoric that would shift […]

Global supply chain is under threat as the holiday season approaches. Depleted water levels are leading to shipping delays in the Panama Canal. The average wait time for non-booked vessels has risen over 40% with reduced cargo as low water levels cause restrictions on daily transits & ship drafts.Waiting time averaged 8.85 days for south-bound […]

What is El Niño and La Niña?  El Niño is a natural climate phenomenon within the El Niño Southern Oscillation (ENSO) that significantly impacts global weather. The El Niño weather patterns can cause changes in normal ocean sea surface temperatures, which can cause changes to the global weather system. It occurs when sea surface temperatures […]

These days many flights lead to New Delhi. The City just hosted a successful B-20 meet. And the Nation, in high spirits post the lunar success, now prepares to host President Biden and other world leaders for the G-20 Summit and related events in New Delhi in under two weeks. VVIP security details and Executive […]

Senior Gabonese military officers appeared on the National TV and said they have taken power. A group of 12 military officers made the announcement shortly after Gabon’s election body reported on Wednesday morning that President Ali Bongo had won a third term in office. Gabon’s borders have been closed indefinitely, the soldiers announced on the […]

Relationship with UAE is one of India’s most significant bilateral relationships. UAE was the first country with which India signed a Comprehensive Economic Partnership. UAE is India’s third largest trading partner behind the US and China, and ahead of Germany, France, UK & Japan . Last year, India-UAE trade was $85 billion

Crises present organizations with complex challenges and, possibly, opportunities with far-reaching consequences. #ISO 22361:2022 provides guidance on crisis management to help organizations plan, establish, maintain, review & continually improve a strategic crisis management capability.

Leaders of eight Amazon nations are attending ‘Amazon Co-operation Treaty Organization’ meeting in the North Brazil city of Belem to set out a roadmap to save the world’s biggest rainforest. Representatives from Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru, Suriname & Venezuela have joined the first-of-its-kind meeting in 41 years.