Business
EU cyber agency says airport software held to ransom by criminals
Joe TidyCyber correspondent and
Tabby Wilson
EPAThe EU’s cyber security agency says criminals are using ransomware to cause chaos in airports around the world.
Several of Europe’s busiest airports have spent the past few days trying to restore normal operations, after a cyber-attack on Friday disrupted their automatic check-in and boarding software.
The European Union Agency for Cybersecurity, ENISA, told the BBC on Monday that the malicious software was used to scramble automatic check-in systems.
“The type of ransomware has been identified. Law enforcement is involved to investigate,” the agency said in a statement to news agency Reuters.
It’s not known who is behind the attack, but criminal gangs often use ransomware to seriously disrupt their victims’ systems and demand a ransom in bitcoin to reverse the damage.
The BBC has seen internal crisis communications from staff inside Heathrow Airport which urges airlines to continue to use manual workarounds to board and check in passengers as the recovery is ongoing.
Heathrow said on Sunday it was still working to resolve the issue, and apologised to customers who had faced delayed travel.
It stressed “the vast majority of flights have continued to operate” and urged passengers to check their flight status before travelling to the airport.
The BBC understands about half of the airlines flying from Heathrow were back online in some form by Sunday – including British Airways, which has been using a back-up system since Saturday.
Continued disruption
The attack against US software maker Collins Aerospace was discovered on Friday night and resulted in disruption across several airports on Saturday.
While this had eased significantly in Berlin and London Heathrow by Sunday, delays and flight cancellations remained.
Brussels Airport, also affected, said the “service provider is actively working on the issue” but it was still “unclear” when the issue would be resolved.
They have asked airlines to cancel nearly 140 of their 276 scheduled outbound flights for Monday, according to the AP news agency.
Meanwhile, a Berlin Airport spokesperson told the BBC some airlines were still boarding passengers manually and it had no indication on how long the electronic outage would last.
It is understood that hackers behind the attack targeted a popular checking software called Muse.
Collins Aerospace has not explained what happened or told the public how long things will take to be resolved. The company is still referring to it as a ‘cyber incident’.
In a statement on Monday morning, the software provider said it was in the final stages of completing necessary software updates.
The internal memo sent to Heathrow staff, seen by the BBC, says more than a thousand computers may have been “corrupted” and most of the work to bring them back online is having to be done in person and not remotely.
The note also says that Collins rebuilt its systems and relaunched them only to realise the hackers were still inside the system.
In separate advice to airlines, Collins told staff not to turn off computers or log out of the Muse software if they were logged in.
The company declined to comment on the memo and its contents.
Ransomware attacks are a prolific problem for organisations around the country, with organised cyber crime gangs earning hundreds of millions of dollars from ransoms every year.
In April, UK retailer Marks and Spencer was hit by ransomware that cost it at least £400m to recover from and months of disruption. The company has declined to say if it paid attackers a ransom.
A spokesperson for the UK’s National Cyber Security Centre said on Saturday it was working with Collins Aerospace, affected UK airports, the Department for Transport and law enforcement to fully understand the impact of the incident.
Cyberattacks in the aviation sector have increased by 600% over the past year, according to a recent report by French aerospace company Thales.
Business
SEBI Proposes Overhaul Of Gold And Silver ETF Price Bands After Sharp Swings
Last Updated:
SEBI proposes stricter base price and band rules for gold, silver ETFs, including cooling-off periods after sharp global price swings to curb volatility.

Amid Global Commodity Volatility, SEBI Plans New Price Band Rules for Gold, Silver ETFs
The market regulator has sought to curb extreme volatility in gold and silver Exchange Traded Funds (ETFs) by proposing changes to the base price and price band framework. Currently, there are no separate price bands for ETFs aligned with their underlying assets, making them vulnerable to sharp price movements.
The proposal comes after sharp volatility in gold and silver ETFs triggered by fluctuations in global commodity prices. On some days, these ETFs fell by over 15%, while on others, they recorded sharp gains.
Stock exchanges currently apply a fixed price band of plus or minus 20% on the base price of ETFs, except for Overnight ETFs investing only in TREPs, which have a price band of plus or minus 5%.
Moreover, the base price for applying price bands to ETFs is taken as the T-2 day closing Net Asset Value (NAV) by exchanges, instead of the T-1 day closing NAV or price, as is the case with indices and individual stocks. This creates a challenge, as the closing NAV of ETFs typically differs between T-1 and T-2 days. Corporate actions such as bonuses and dividends are adjusted manually, increasing the risk of errors.
What Are the Key Proposals?
SEBI has proposed that the base price be determined using either the closing price of the ETF on T-1 day (weighted average price of the last 30 minutes), the closing NAV of T-1 day, or the average indicative NAV (iNAV) of the last 30 minutes of T-1 day.
Further, the regulator has proposed an initial price band of plus or minus 10% for equity and debt ETFs, which can be flexed up to plus or minus 20%. A cooling-off period of 15 minutes will apply, and up to two flexes will be allowed in a day.
For gold and silver ETFs, the regulator has proposed an initial price band of plus or minus 6%, which can be flexed up to plus or minus 20%. This will also include a 15-minute cooling-off period.
February 14, 2026, 16:08 IST
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Business
Petrol and diesel prices likely to rise – SUCH TV
Oil and Gas Regulatory Authority (OGRA) forwarded a summary to the federal government suggesting an increase of Rs4.39 per liter in petrol price for the next fortnight.
After approval from the federal government, one liter of petrol will be sold at Rs257.56 instead of Rs253.17 per liter.
The price of high-speed diesel (HSD) will be increased by Rs5.40 per liter.
After approval, the price of one liter of high-speed diesel will increase by Rs268.38 to Rs273.78.
The proposal to increase the price of kerosene by Rs4 per liter is also on the cards.
The OGRA also recommended increasing the price of one liter of light diesel by Rs6.55.
The new prices of petroleum products will be effective from February 16, 2026.
Due to tension between the USA and Iran, petroleum prices are likely to increase further.
Business
Rising vet costs leave Birmingham charity with £400k bill
The group, based in Solihull and Wolverhampton, says its vet bills are costing them more.
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