“Record cyberattacks on States, businesses and people…”

Microsoft publishes 2023 Digital Defence Report

• Over 750 billion security signals per second, processed by Microsoft
• 70% of companies affected by cyberattacks in 2023 are small and medium businesses
• Over 237 billion password theft attempts thwarted by Microsoft

Microsoft has released its annual Digital Defence Report with the latest insights on how the threat landscape has evolved but also the mechanisms developed to deal with geopolitical cyberattacks and cybercrime. According to the report last year saw massive cyberattacks launched by governments in more than 120 countries. During the same period, Microsoft thwarted 237 billion password theft attempts, protecting millions of users around the world from the threat of cybercrime.

Cybersecurity is a defining challenge of our time. Organisations of every size across every industry around the globe feel the urgency and pressure of protecting and defending against increasingly sophisticated attacks.

“We believe every individual and company around the world should be empowered to meet its security needs. Achieving this will require a collective global effort as we harness the power of partnership to strengthen our defences together,” says Tom Burt, Corporate vice president of Customer Security & Trust at Microsoft.

“Close collaboration between the public and private sectors to formulate, enforce and harmonise these requirements is therefore crucial to improve global cybersecurity and foster innovation. In fact, while cybercriminals have remained hard at work, we are seeing public and private sectors come together to disrupt the technologies criminals use, hold them to account and support the victims of cybercrime,” he added.

The study pointed out how stakeholders must recognise their shared responsibility and actively engage in partnerships to enhance cybersecurity.

“Approximately 40% of the ransomware encounters we detected in June were human-driven. Most of these attacks can be attributed to 123 tracked ransomware-as-a-service affiliates. The number of affiliates grew by 12% in the last year, setting up conditions for human-operated ransomware attacks to continue to grow in 2024,” said the report.

Israel denies involvement in Gaza blast claiming explosion caused by misfired Palestinian rocket

The Hamas-run Health Ministry in Gaza says an Israeli airstrike caused the blast, and that it killed some 500 people, many of whom had sought shelter from an ongoing Israeli offensive.

The Israeli military says it had no involvement in an explosion that killed hundreds of people at a Gaza City hospital and that the blast was caused by a misfired Palestinian rocket.

The Hamas-run Health Ministry in Gaza says an Israeli airstrike caused the blast, and that it killed some 500 people, many of whom had sought shelter from an ongoing Israeli offensive.

The Israeli military, however, said Palestinian militants had fired a barrage of rockets near the hospital at the time.

Malta:

Government committed to ensuring that Budget supports workers and their families, Robert Abela says.

The Government is committed to ensuring that the Budget continues to support workers and their families whilst also focusing on strengthening a quality-based economy, the Prime Minister said following discussions with representatives from the General Workers’ Union.

The Office of the Prime Minister added that Abela said the Government is committed to providing aid to curb inflation.

Prime Minister Robert Abela met with workers during his visit to the General Soft Drinks factory where he discussed “various themes” with them including certain ideas and proposals they had, the OPM said. It continued that the discussions developed into an extensive meeting with the leadership of the GWU which is representing said workers.

The OPM said that the Prime Minister listened to the workers’ thoughts and comments, who remarked that continuous training helps them in the workplace and helps them get invested in their careers as more than “just a job”.

It said that discussion regarding skills occurred in light of the proposals for the upcoming 2024 budget put forward by the GWU which it said include measures in favour of improving the quality of the Maltese and Gozitan tourist product which is linked to the skills of hospitality workers. The Cabinet of Malta met last week and decided that tourism workers, “who are really needed in Malta,” will be required to go through a course before being given permission to work.

Mention was made of the Government’s aim to favour stability in energy prices, the OPM said, adding that this stability gives “peace of mind and certainty” to workers as well as businesses. It continued that this is being done in the context of a “strong labour market” in Malta where it said that the employment rate is almost five times higher than the average whilst also having the lowest unemployment rate in the Eurozone.

Abela said that this meeting was conducted in the context of a forecast by the International Monetary Fund which predicts the largest economic growth in Europe as well as the latest credit rating by DBRS Morningstar which gave the Maltese economy the highest rating.

Malta Company Announcements:

IHI Group plc Bond Issue – Oversubscribed

The Issuer announced that the Bond Issue has been oversubscribed. The offer period for preferred applicants and Corinthia Group employees will be closed on 20^th October 2023 and the Intermediaries offer will not take place. Maturing bondholders can apply until 26^th October 2023. The basis of acceptance will be announced by 2^nd November 2023.

AX Group plc Bond Issue – Oversubscribed

The Issuer announced that the Bond Issue has been oversubscribed. The offer period closed on 19^th October 2023 and the intermediaries offer will not take place. The Issuer will be announcing the basis of acceptance by not later than Thursday, 26^th October 2023.

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