India’s Commerce Ministry has recently asked that its health counterpart create a legislation that would ban the manufacture and sale of e-cigarettes throughout the country. This request comes on the heels of the Health Ministry seeking the Commerce Ministry to outlaw imports of Electronic Nicotine Delivery Systems (ENDS), flavored hookah included. However, without banning the domestic sale and production of ENDS, putting a prohibition on its import could potentially violate global trade norms.
An Overview of Electronic Nicotine Delivery Systems (ENDS)
Electronic Nicotine Delivery Systems, or ENDS, are devices that heat up a solution known as e-liquid, creating an aerosol. The most common of these devices are electronic cigarettes which don’t burn or use tobacco leaves; instead, they vaporize the e-liquid for inhalation by users. The primary components of said solution are propylene glycol, often with or without glycerol and flavouring agents, and nicotine. Some toxicant chemicals are also present in ENDS solutions and emissions.
The Function of the Global Financial Stability Report
On a semi-annual basis, the International Monetary Fund (IMF) releases the Global Financial Stability Report (GFSR). This report assesses the stability of global financial markets, alongside emerging-market financing. It is published twice per year, specifically in April and October. The GFSR underlines the financial implications of economic imbalances which the IMF’s World Economic Outlook has emphasized. The GFSR also offers recommendations for global financial market supervisors, policymakers, and central banks.
Global Financial Stability Report – April 2019 Highlights
The April 2019 Global Financial Stability Report has found that despite notable variability over the previous two quarters, financial conditions have remained favourable. The report showcases a method to quantify the vulnerabilities in the financial system across six sectors: governments, banks, households, corporates, insurance companies, and other financial institutions. It particularly pays attention to corporate sector debt in advanced economies, China’s financial imbalances, the sovereign-financial sector nexus in the Euro area, volatile portfolio flows to emerging markets, and downside risks to the housing market.
Cloud Honeypots and Cyber Attacks
According to a report by IT security firm, Sophos, a global network of honeypots experienced over five million attempted cyber attacks. A Mumbai cloud server honeypot witnessed more than 678,000 attempts in a month alone, second only to Ohio in the U.S. which recorded over 950,000 login attempts.
The Role of Honey Pots in Cybersecurity
Honeypots are decoy systems with no authorized users beyond the administrators, as they serve no business function. They’re designed to mimic likely targets of cyber attackers, allowing security researchers to monitor cybercriminal behavior. Honeypots give defenders time to study threat parameters and formulate appropriate threat indicators that can mitigate prospective attacks.
Key Facts
| Fact | Detail |
|---|---|
| E-cigarettes ban in India | The Commerce Ministry asked Health Ministry to frame a law banning manufacture and sale of e-cigarettes. |
| Global Financial Stability Report | Published by the IMF twice per year to assess the stability of global financial markets. |
| Cloud Honeypots | Decoy systems used to monitor cybercriminal behavior and help develop threat indicators. |
Medium and Long-Term Risks
Despite the short-term risks to global financial stability being low from a historical standpoint, they are slightly higher than what was highlighted in the October 2018 Global Financial Stability Report. In the medium term, however, risks remain elevated. Policymakers are advised to take action, including through the clear communication of monetary policy changes, the utilization and expansion of macroprudential tools, measures to fix public and private sector balance sheets, and the strengthening of emerging market resilience to foreign portfolio outflows.