Marine services giant Swire Pacific Offshore (SPO) has suffered a Clop ransomware attack that allowed threat actors to steal company data. Swire Pacific Offshore discovered an unauthorized network infiltration onto its IT systems, resulting in the compromise of some employee data. "The unauthorised access has resulted in the loss of some confidential proprietary commercial information and has resulted in the loss of some personal data. https://www.bleepingcomputer.com/news/security/marine-services-giant-swire-pacific-offshore-hit-by-ransomware/

The world may be going crazy over digital currencies, but tiny Singapore is swimming against the tide. The central bank has decided against offering a paperless version of the city-state’s legal tender — at least for now. Not because an electronic version of cash may flop, but because it’ll most likely be a hit. That could have consequences for the island’s financial stability and conduct of monetary policy. Even if those risks are manageable with in-built safeguards, why rock the boat? https://www.japantimes.co.jp/opinion/2021/11/26/commentary/world-commentary/digital-singapore-dollar/

IKEA is battling an ongoing cyberattack where threat actors are targeting employees in internal phishing attacks using stolen reply-chain emails. A reply-chain email attack is when threat actors steal legitimate corporate email and then reply to them with links to malicious documents that install malware on recipients' devices. https://www.bleepingcomputer.com/news/security/ikea-email-systems-hit-by-ongoing-cyberattack/

The Bank of Tanzania is reportedly planning to introduce a central bank digital currency, or CBDC, for the African nation after neighboring countries announced similar initiatives. Tanzania was planning to follow Nigeria’s example in rolling out its own CBDC. Luoga reportedly said that the central bank had “already begun preparations” for a digital shilling, https://cointelegraph.com/news/tanzania-reportedly-makes-plans-to-launch-cbdc

For some time now Beijing has been emphasising the importance of food security. This is because grain prices in China have increased and the relations with some exporting countries are not so good now. China is expected to roll out support in order to counter price volatility in both domestic and international markets. The state-run Economic Daily has reported that prices of corn and wheat have soared. The media further added that the situation could get worse as the prices would continue to increase due to continuous rainfall and unusually cold winter in northern China. https://www.msn.com/en-in/news/world/amid-concerns-of-food-security-grain-prices-hike-in-china/ar-AARbMVS

Russian wheat prices gained last week for the sixth consecutive week amid strong export demand and an earlier rally in global benchmarks. Russian wheat exports are down by 35% since the start of the 2021/22 marketing season on July 1, due to a smaller crop and the export tax, which will rise to $80.8 per tonne this week. The tax is based on an indicative price of $315.5 per tonne. https://www.nasdaq.com/articles/russian-wheat-rises-for-sixth-week-in-a-row-amid-strong-demand

BELGRADE - Serbia has increased its gold reserves to 37 tonnes and moved them to the treasury of the central bank from Switzerland's Bern, governor Jorgovanka Tabakovic said. "All the gold of the state of Serbia, over 37 tonnes, is in the vaults of the central bank," The central bank intends to continue to acquire gold and expand its reserves further, https://seenews.com/news/serbia-relocates-gold-reserves-to-c-bank-treasury-governor-762567

The reverberations are hitting central and Eastern Europe especially hard, where countries have some of the highest inflation rates in the 27-nation European Union and people are struggling to buy food or fill their fuel tanks. It is most pronounced in the developing economies of central and Eastern Europe, with the highest annual rates recorded in Lithuania (8.2%), Estonia (6.8%) and Hungary (6.6%). In Poland, one of Europe’s fastest-growing economies, inflation came in at 6.4% in October, the highest rate in two decades. https://www.msn.com/en-us/money/markets/inflation-everywhere-as-world-sees-spike-in-prices/ar-AARg1lv

Israel's central bank is accelerating its study, research and preparation for the possible issuance of a digital shekel aimed at creating a more efficient payments system, Bank of Israel Governor Amir Yaron https://www.reuters.com/markets/currencies/bank-israel-accelerating-preparations-digital-currency-governor-2021-11-29/

India - Indian farmers squeezed by a massive shortage of fertilizers are turning to the black market and paying exorbitant prices for supplies. The shortfall has led to a thriving market where subsidized crop nutrients are sold illegally at prices much higher than levels set by the government. Shady agents have been busy fielding requests from farmers who call them in desperate need. We either have to cut the use of fertilizers and risk lower production, or pay sky-high prices on the black market, https://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/black-market-for-fertilizers-is-booming-in-india-as-prices-soar/articleshow/87972990.cms

Spanish inflation hit its highest in nearly three decades in November as increases in food and fuel costs pushed consumer prices up 5.6% year-on-year, National Statistics Institute (INE) data showed. The rate accelerated from October's 5.4% to reach its highest level since September 1992's 5.8%. Inflation has been rising across the euro zone in recent months, with Spain particularly hard hit. Rising food costs were the main driver, followed by vehicle fuels and lubricants. https://money.usnews.com/investing/news/articles/2021-11-29/food-and-fuel-costs-drive-spanish-inflation-to-29-year-high

Singapore increased its gold reserves by about 20% earlier this year in a largely under-the-radar move the central bank says will ensure the resiliency of its portfolio. The purchases totaled about 26.3 tons https://www.bloomberg.com/news/articles/2021-11-29/singapore-adds-to-its-gold-pile-for-the-first-time-in-decades

A fourth-generation dairy farmer warned that climate change-related regulations and a slew of economic woes could signal the end for her family’s way of life after nearly a century. “Instead of educating people through the farmer, we’re educating them through people that have never farmed and we’re killing off our family farmers.” Rising costs, labor and supply shortages and little support – in addition to climate change and conservation regulations – are all major obstacles threatening farmers. “They regulate us on every step we make,”. “We’re constantly looked at, constantly manipulated and told what to do, and farmers don’t want to be told how to farm.” https://paine.tv/fourth-generation-dairy-farmer-warns-economic-woes-climate-change-regulations-could-end-family-farms/

Indonesia is considering developing a central bank digital currency (CBDC) as one way to counter the use of cryptocurrency in the country. An assistant governor of Bank Indonesia, said that a digital rupiah would address the effect crypto trading has on the financial system. Religious leaders in the country declared that Muslims are forbidden from using crypto earlier this month, owing to elements of uncertainty and wagering. https://finance.yahoo.com/news/indonesia-central-bank-wants-fight-091219014.html

Tech manufacturing giant Panasonic has confirmed that its network was accessed illegally this month during a cyberattack. The Japanese company said it determined that "some data on a file server had been accessed during the intrusion." Panasonic is currently working with a specialist third-party organization to investigate the leak and determine if the breach involved customers' personal information and/or sensitive information related to social infrastructure." https://www.zdnet.com/article/panasonic-confirms-cyberattack-and-data-breach/

Consumer prices across the 19 countries that use the euro currency are rising at a record rate as a result of a huge spike in energy costs this year. Eurostat, the European Union’s statistics agency, said the eurozone’s annual inflation rate hit 4.9% in November, the highest since recordkeeping began in 1997 and up from 4.1% in October, the previous high mark. https://apnews.com/article/business-europe-prices-inflation-consumer-prices-66c09717fe7f1ccba8a2943e3d23044b

The world's sugar supply balance is expected to deteriorate in the 2021/22 season that started in October due to higher use of sugarcane to ethanol production in India and lower production in Brazil. The season will see demand surpassing production for the third consecutive year, projecting a supply deficit of 1.8 million tonnes. https://www.businesstoday.in/latest/economy/story/global-sugar-supply-may-fall-on-indias-ethanol-production-boost-314012-2021-12-01

US- Los Angeles - Cybercriminals managed to compromise the LA Panned Parenthood network and engaged in stealing important files. The nature of the stolen files included personal information of the patients such as birth data, clinical information like diagnosis or procedure, address, and insurance data. https://heimdalsecurity.com/blog/planned-parenthood-la-data-breach-due-to-ransomware-attack/

Alongside bad weather, global supply constraints have had a substantial impact on the coffee market. Uncertainty is also stemming from exporting countries such as Ethiopia, which is on the brink of a civil war, and Vietnam, which is seeing a rise in Covid-19 cases that could hit production. Meanwhile, the International Coffee Association's benchmark price of $2.07 per pound, up 85% from a year earlier. http://a.msn.com/00/en-us/AARk1AE?ocid=st

Japan's new political leadership is calling on the country's financial bureaucrats to ramp up efforts toward issuing a digital currency, pointing to China's far quicker progress as a potential challenge to the global economic order. The government has increased staff looking into legal and technical aspects of issuing a central bank digital currency (CBDC), which are digital forms of existing currencies. https://www.yahoo.com/entertainment/analysis-japan-keen-speed-digital-052453848.html

World food prices rose for a fourth straight month in November to remain at 10-year highs, led by strong demand for wheat and dairy products, the U.N. food agency said on Thursday. The Food and Agriculture Organization's (FAO) food price index, which tracks international prices of the most globally traded food commodities, averaged 134.4 points last month compared with a revised 132.8 for October. https://uk.news.yahoo.com/world-food-prices-climb-november-090827861.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr