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Each week, we break down international news into our four quadrants of risk and present ways to mitigate those risks. 

Market and Economic Risks

The European Commission took steps to regulate and introduce a new tax system for digital economy companies such as Amazon, Google, Facebook, and Uber. Per reports last week, India and South Korea held a new round of negotiations to improve the existing Comprehensive Economic Partnership Agreement, which was implemented in 2010. Free trade agreement talks between China and the Maldives have concluded after two years, following five rounds of negotiations. The government of the Mexican state of Puebla last week announced that Cabify, a transportation network company, would no longer be able to operate in the state. On Thursday last week, it was announced that the Argentinean authorities approved a new sanitary certificate for the importation of fresh and unboned Brazilian meat into the country.

Technology and Information Risks

- Cyber-security researchers have disclosed that they had discovered a backdoor in the maintenance and file clean-up software CCleaner. CCleaner is a very popular application that has been downloaded 2 billion times since November 2016. Per recent reports, the Irish National Teachers Organisation, an online learning portal, warned users that its data may have been compromised. The website was reportedly hacked last week, making user information such as email addresses, city, country, name, gender, and course information potentially accessible to hackers.

Operational and Physical Risks

On Thursday last week, the Chinese government instructed banks to cease business engagements with North Korean customers, in an attempt to further choke Pyongyang’s military ambitions. Ireland-based airline Ryanair has announced that it would cancel 40-50 flights per day, for the next six weeks.

Hazard and Event Risks

Last week, Iraqi police were reportedly deployed to stop deadly clashes in Kirkuk. The clashes arose as a response to the Kurdish independence referendum, planned for today, which has been opposed by the government in Baghdad. Last week, the Environmental Assessment and Oversight Agency of Peru reported supervisory actions have begun regarding two new oil spills in PetroPeru pipelines. The city of St. Louis, Missouri in the United States has seen an increase in protest activity resulting from a judge acquitting a police officer who was charged with murder in the shooting death of an African-American man in 2014. 

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