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Frost & Sullivan: Increased Conventional and Unconventional O&G Explorations Drive New Investments in Latin American Positive Displacement Pump Market

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— Brand awareness campaigns and training programs on the applications of positive displacement pumps are vital for market success

BUENOS AIRES, Argentina /PRNewswire/ — Strong investment in the oil and gas (O&G) and petrochemical industries in Latin America is fueling the demand for positive displacement pumps in the region. The development of the infrastructure and food and beverage manufacturing industries to meet the accommodation and consumption needs of the expanding population, is also adding momentum to the market.

Oil Platform
Oil Platform

Photo – http://photos.prnewswire.com/prnh/20140729/130811

New analysis from Frost & Sullivan, Analysis of the Latin American Positive Displacement Pump Market, finds that the market earned revenues of $464.5 million in 2013 and estimates this to reach $626.7 million in 2020. Although Latin America’s gross domestic product is expected to decelerate to an average of three to four percent, the demand for positive displacement pumps will grow at a compound annual growth rate of 4.4 percent mainly due to new applications in the O&G and petrochemical industries. The study covers rotary, reciprocating and peristaltic pumps.

“With the mining industry in Latin America garnering major interest from state governments and international companies, opportunities for positive displacement pump manufacturers are also emerging in this space,” said Frost & Sullivan Industrial Automation & Process Control Research Analyst Aida Paola Conti.

However, the price sensitivity of end users and their limited awareness on the advantages of positive displacement pumps and alternative technologies have been major obstacles to market development. In addition, the unstable economic condition in some leading Latin American countries has dampened consumer confidence and led to project delays. Along with the expected decrease in foreign direct investment, these factors are challenging positive displacement pump manufacturers.

“In this scenario, successful brand awareness campaigns are critical to gain market acceptance and differentiate products from the competition,” stated Conti. “Training programs on the current and new applications of positive displacement pumps are also important to attract end users across Latin America.”

For more information on this study, please email Francesca Valente, Corporate Communications, atfrancesca.valente@frost.com.

Analysis of the Latin American Positive Displacement Pump Market is part of the Industrial Automation & Process Control (http://www.industrialautomation.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Global Sanitary Pump Market in the Food and Beverage Industry, Global Pumps Market in the Chemicals Industry, Pumps and Valves in the North American Shale Industry, and Global Metering Pump Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Analysis of the Latin American Positive Displacement Pump Market
ND7F-10

Contact:
Francesca Valente
Corporate Communications — Latin America
P: +54-11-4777-5300
F: +54-11-4777-5300
E: francesca.valente@frost.com

http://www.frost.com

Photo – http://photos.prnasia.com/prnh/20140730/8521404291

Source: Frost & Sullivan

Written by asiafreshnews

July 31, 2014 at 7:19 pm

NetComm Wireless Wins Multiple Awards for Innovation

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SYDNEY, 30 July, 2014 /PRNewswire/ — NetComm Wireless Limited (ASX: NTC) has again been named ABA100 Winner of three categories in the Australian Business Awards 2014: Business Innovation; Product Innovation and Best Industrial Product. This is the third consecutive year that NetComm Wireless has won the Business Innovation and Product Innovation categories, and the second that it has won the award for Best Industrial Product.

The Business Innovation award recognises NetComm Wireless’ culture of innovation and outstanding commitment to pioneering wireless communication technologies for the global Machine-to-Machine (M2M) market. The Product Innovation award reflects the success of NetComm Wireless’ ‘Light Industrial’ product series in providing diverse industry sectors with simple and economical remote management capabilities; and the 3G Smart Meter Module was named Best Industrial Product for its unmatched adaptability, functionality and demonstrated success as the intelligence component of one of the world’s largest smart meter rollouts.

“It is a tremendous honour to have won three categories of the Australian Business Awards,” said David Stewart, CEO and Managing Director of NetComm Wireless.  “Our local R&D engineering team have delivered innovative wireless Machine-to-Machine products that are recognised globally, and we are thrilled to have received such highly regarded accolades for our commitment to innovation in the business, product and industrial categories.”

The Australian Business Awards are a national, all-encompassing awards program honouring Australia’sbusiness, innovation and technology leaders through the recognition of their ground-breaking vision, innovative products and exemplary execution of projects, technologies, service, programs, systems and other initiatives. The program engages with leading corporate, government and non-government organisations providing regional recognition with a global significance through an established set of business and product award categories.

Ms Tara Johnston, Program Director, says, “With a modernised economy we are experiencing notable change in business with new market and social needs expanding rapidly. The ABA100 Winners are reflective of a nation-wide commitment to innovation and improvement, with the award honouring their evident traction within their respective industries.

“As markets become more informed, organisations are required to be responsive and dynamic in order to create functional, sustainable processes and future-proof products. The program places value on a proactive approach to instigating long-term solutions and generating positive outcomes to ensure a bright economic future for Australians, through the recognition of demonstrated commitment to putting bold ideas into motion and creating products that matter,” Ms Johnston adds.

About The Australian Business Awards

Conducted annually, The Australian Business Awards are now in their ninth year with one hundred winners (“The ABA100”) announced in a variety of established categories across all industries. Working continuously to develop a robust and dynamic framework of assessment, organisations are able to review their business and product performance, identify their strengths in a growing knowledge economy and ultimately provide a platform for reputation enhancement and brand exposure by publicly acknowledging organisations for their valuable contributions and innovative products. The business award categories are open to the corporate, government and non-government sectors. The product awards open to tangible or intangible products ranging from manufactured goods, devices, equipment, services, programs, projects, activities, information, knowledge, software, platforms and systems. For more information on The Australian Business Awards (ABA100) go towww.businessawards.com.au.

About NetComm Wireless Limited

NetComm Wireless Limited (ASX: NTC) is a leading developer of innovative broadband products sold globally to telecommunications carriers, core network providers and system integrators. For 32 years NetComm has developed a portfolio of world first data communication products, and is a respected global provider of 3G and 4G wireless devices servicing the major telecommunications carrier, Machine-to-Machine (M2M) and Rural Broadband markets. NetComm’s products are designed to meet the growing needs of today’s diverse home, business and industrial broadband applications and designed to optimise the performance of global network advancements. Headquartered in Sydney, Australia, NetComm has offices in the US, Canada, UK, New Zealand, the Middle Eastand Japan. For more information about NetComm visit: www.netcommwireless.com

Source: Netcomm Wireless

Related stocks: Australia:NTC

Written by asiafreshnews

July 31, 2014 at 4:40 pm

Posted in All releases

Asia’s Unprecedented Biomass Industry Growth and Mega Opportunities Are Key Spotlights at 5th Biomass Pellets Trade & Power summit

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SINGAPORE and SEOUL, South Korea, July 29, 2014 /PRNewswire/ — Centre For Management Technology‘s premier event 5th Biomass Pellets Trade & Power returns to Seoul 2325 September, 2014 for a timely discussion on ‘Tapping the Growing Biomass Demand in China, Japan & South Korea‘. The conference explores demand growth from the 3 major Asian economies and huge supply opportunities for biomass pellets producers across Australia, Vietnam, Indonesia, the Philippines, Canada and the US.

Kick starting the 2014 summit are presentations on Korea, Japan and China’s biomass demand or growth prospects, particularly – ‘Development of Korea’s Biomass Utilization Market & Growth Outlook’ by Mr. Myung-Kyu Lee, President of Korea Wood Pellet Corporation, then followed by Mr. Tony Kawabe, Senior Managing Director, Summit Energy Corporation sharing an overview of ‘FIT, Biomass to Power Development in Japan & Summit Energy’s Itoigawa Biomass Power Station (SMP)’ and session on ‘Development of China’s Biomass Power Generation – Opportunities & Commercial Viability’ by Mr. Li Yonghua, CEO of Anhui Guozhen Biomass Power Generation.

The mega event has a vital session on ‘Waste Resources & Biomass Regulations: Imports of Palm Biomass (Solid Refuse Fuel) into Korea for Power Generation Purposes – Key Procedures & Quality Guidelines to Note’ to be delivered by senior representative from Ministry of Environment, South Korea, shedding light on the recent amendment by South Korea to allow import of Solid Refuse Fuel into the country.

Further, representatives from Korean gencos, KOSEP, KOSPO, KOWEPO, KOMIPO and EWP are slated to present their perspectives on Co-Firing and/ or dedicated biomass power generation projects and their expectations on wood pellet/ biomass imports. Besides, biomass feedstock suppliers PT Inhutani III (Persero), PT Trenergy Biomasse Indonesia, CellMark Asia Pte Ltd and Green Circle Bio Energy Inc. will share essential market analysis.

Specially added to the agenda are:

  1. Session on ‘Dry Bulk Shipping Market & Freight Rates Outlook for Wood Chips & Pellets’ led by Drewry Maritime Services (ASIA) Pte. Ltd.
  2. Post Conference Workshop: Doing Business in the Korean Biomass to Power Market
  3. Site Visit & Guided Tour of KOSEP Co-firing Power Plant at Yeongheung

Over 200+ delegates, sponsors, exhibitors and special guests are expected to attend this ‘Global Biomass Buyers and Suppliers Meet’.

Visit the event website for more details or contact Ms. Hafizah at +65 6346 9218.

Source: Centre For Management Technology

Written by asiafreshnews

July 31, 2014 at 4:22 pm

Posted in Uncategorized

Emeli Sande & Jaguar to Make London Feel Exhilarated

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LONDON  /PRNewswire/ —

  • Jaguar marks the launch of the new XE sports saloon with FEEL XE
  • Emeli Sande to perform the first FEEL XE project on 08 September, an audio-visual spectacle that will be seen and heard across the Thames
  • Emeli is inviting members of the public to influence her special new track via social media using #FEELXE
  • The FEEL XE platform will express the feeling of Exhilaration at the heart of the XE
  • Jaguar to also collaborate on certain projects with Stella McCartney and Idris Elba for FEEL XE

Jaguar today launches FEEL XE, a platform created to harness the spirit of British creativity and innovation using an inspiring collective of figures from the worlds of music, film and design.

(Photo: http://photos.prnewswire.com/prnh/20140730/699805)

Jaguar will be collaborating with artists and personalities including Emeli Sande, Stella McCartney and Idris Elbato create experiences that express the ‘Exhilaration’ that is at the heart of the XE, the brand’s new mid-sized premium sports saloon.

Multi-platinum, British singer songwriter Emeli Sande will create the first FEEL XE project. Emeli and Jaguar are looking to the public for inspiration as Emeli begins to write a FEEL XE song about the feeling of Exhilaration to support the reveal of the Jaguar XE. In order to secure inspiration Emeli and Jaguar will ask the public “What makes you feel Exhilarated?”

Using #FEELXE the public can share words, pictures, sounds and films with Emeli through social media (Twitter, Facebook and Instagram) that express what makes them feel Exhilarated. As Exhilaration can mean many different things to many different people, Emeli and Jaguar are expecting a diverse range of submissions.

In reference to her involvement in the project, Emeli said: “I’m excited about working with Jaguar on the FEEL XE campaign and with an incredible British brand. The new XE is innovative in its design and I can’t wait to start collaborating with the world, looking at what defines Exhilaration for them, and premiering the track in London at what is going to be an incredible event!”

Emeli’s FEEL XE track will be performed for the first time at a secret location alongside the Thames on 08 September as part of a spectacular, audio-visual event. The conclusion of this performance will mark the global reveal of Jaguar’s new XE mid-sized premium sports saloon, part of a series of dramatic Jaguar XE stunts and events across the Capital.

The XE is a true sports saloon that has been designed, engineered and manufactured in the UK. With class-leading design and innovation, Jaguar is delivering game-changing driving experience and performance, qualities that FEEL XE will express through creative interpretations of the feeling of Exhilaration.

Emmy nominated British actor Idris Elba will create a FEEL XE project with his production company Green Door Pictures. It will be inspired by his passion for cars and innovation, an interest that he first explored in the recent BBC2 ‘King Of Speed’ series. Idris commented: “I have a passionate, personal connection to cars, and when I think of Exhilaration I am immediately drawn towards the defining points in my life and the role that cars have played in these moments.”

Renowned British designer Stella McCartney, whose FEEL XE project will follow Emeli’s, said: “I’m passionate about British design and innovation. I’m proud to be involved in the Jaguar FEEL XE campaign and look forward to this exciting partnership.”

Fiona Pargeter, PR Director for Jaguar Land Rover, commented: “XE is a very special car and we wanted to ensure it had a very special launch. We are very excited to be working with such amazing global talent to create interesting and engaging experiences that we can share around the world. Emeli is an incredible artist and one who embodies the creativity and elegance that is at the heart of the Jaguar brand and the new XE.”

Between now and 08 September the public can see how Emeli Sande is being inspired by the social media community on Jaguar’s Facebook page (http://www.facebook.com/Jaguar) via exclusive behind-the-scenes footage and interviews. Further FEEL XE projects involving Stella McCartney and Idris Elba will be announced in due course.

NOTES TO EDITORS

ABOUT JAGUAR LAND ROVER

Jaguar Land Rover is the UK’s largest premium automotive manufacturing business, built around two iconic British car brands. All its vehicles are engineered and designed in Britain. While it has ambitious plans for global growth, the heart of the business remains in the UK, with billions of pounds invested in state-of-the-art production, research and development facilities. In 2013, Jaguar Land Rover sold 425,006 vehicles – up 19% from the previous year – in more than 170 countries. The company employs 30,000 people globally.

JAGUAR XE CONFIRMED AS NEW NAME FOR PREMIUM SPORTS SALOON WITH STATE-OF-THE-ART ‘INGENIUM’ ENGINE FAMILY

  • Jaguar announces the name of its all-new mid-sized premium sports saloon as the Jaguar XE
  • The Jaguar XE will be the first aluminium monocoque product in the segment and is set to be the most advanced, efficient and refined sports saloon in its class
  • This will be the first product from the new advanced aluminium architecture which was showcased for the first time in the C-X17 concept car at the Frankfurt Auto Show in 2013
  • The new family of high-output, fuel-efficient petrol and diesel engines will be named Ingenium. The Jaguar XE will be the first user of the Ingenium engines in four-cylinder two-litre petrol and diesel variants. They will be built at Jaguar Land Rover’s new UK Engine Manufacturing Facility
  • The full engine line-up will enable Jaguar to offer vehicles with class-leading performance, including top speeds of over 300km/h (186mph), and emissions lower than 100g of CO2 per km

NEW JAGUAR XE TECHNOLOGY PACKAGE ANNOUNCED

  • The world premiere of the all-new Jaguar XE will be held in London on September 8th
  • The XE will be a true sports saloon with class-leading dynamics, refinement and technology
  • Precise handling and high-quality ride is assured with Integral Link rear suspension; a layout designed for optimum performance, comfort and control
  • The finely-honed F-TYPE-derived front suspension delivers accurate and immediate response
  • State-of-the-art electric power steering system delivers renowned Jaguar feel and response
  • World-first All Surface Progress Control system ensures rear-wheel drive traction from standstill even in extreme conditions

THE NEW ALUMINIUM-INTENSIVE JAGUAR XE: THE MOST FUEL EFFICIENT JAGUAR EVER TO ACHIEVE OVER 75MPG

  • The Jaguar XE brings new levels of aluminium-intensive lightweight construction expertise to the segment
  • Projected to deliver fuel economy of over 75mpg* (less than 4 litres/100km) on EU combined cycle
  • The high strength, rigid body enables world class driving dynamics – with supple ride and precise handling
  • All-new modular architecture developed around Jaguar’s fifth-generation bonded and riveted aluminium technology
  • New aluminium alloy invented: RC5754 uses highly recycled aluminium to dramatically reduce energy consumption and lifecycle CO2

*subject to certification

EMELI SANDE SOCIAL MEDIA:
Twitter: @emelisande
Facebook: http://www.facebook.com/emelisande
Instagram: http://instagram.com/emelisande

JAGUAR CHANNELS:
Facebook: http://www.facebook.com/Jaguar
Twitter: http://twitter.com/Jaguar
Instagram: http://instagram.com/Jaguar
YouTube: http://www.youtube.com/JaguarCars

FOR FURTHER INFORMATION PLEASE CONTACT:
Juliet Fairbairn
jfairba4@jaguarlandrover.com
+44-(0)24-76-565-571
Claudia Davies
claudia@thebrooklynbrothers.com
+44-207-292-6200

Source: Jaguar

Written by asiafreshnews

July 31, 2014 at 3:23 pm

Posted in Uncategorized

Advanced First Aid Research Announces N95 Partnership with SilverACE Senior Activity Centres and Lions Befrienders to Help Elderly Combat Haze

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Singaporean First Aid Company to launch one-for-one donation of advanced N95 class masks

SINGAPORE, July 29, 2014 /PRNewswire/ — Singapore healthcare company, Advanced First Aid Research, an innovator in first aid and burn relief solutions, today reinforced its commitment to supporting the health, wellbeing and preparedness of Singaporeans with the announcement of a sponsorship initiative in partnership with NTUC Health Co-operative’s SilverACE Senior Activity Centres and Lions Befrienders, designed to support the Nation’s most vulnerable citizens.

Goh Boon Han (left) from Lions Befrienders with Allen Loh (right), CEO of Advanced First Aid Research with the Aluminaid N95 masks.
Goh Boon Han (left) from Lions Befrienders with Allen Loh (right), CEO of Advanced First Aid Research with the Aluminaid N95 masks.

Ahead of the anticipated haze, Advanced First Aid Research has announced it will donate one N95 mask for each one sold through Unity Pharmacies nationwide. The donated masks will be supplied to vulnerable elderly, specifically those who are members of the SilverACE Senior Activity Centres (SACs). SACs are a government initiative to support the lower income elderly with weak family support.

Donated masks will similarly be distributed to elderly citizens by the Lions Befrienders support network which reaches over 5,000 seniors through the social and community programmes.

Advanced First Aid Research’s innovative N95 mask design features an electrostatic filter that delivers better ventilation, easier breathing and speaking due to its 99 per cent filtration efficiency against micron particles. The mask also offers longer, more lasting protection against the haze and other harmful gases in a way not catered for by standard masks.

Advanced First Aid Research CEO, Allen Loh, says: “While we sincerely hope that the projected haze does not adversely impact the health of Singaporeans, it’s important we ensure that those most in need of support are prepared well in advance, and don’t miss out during times of high demand. The mask with its high filtration efficiency is ideally suited for those most susceptible to haze conditions.

“This initiative in partnership with SilverACE Senior Activity Centres and Lions Befrienders complements the good work of other government agencies and organisations who are equally committed to protecting our nation’s health during the haze season as well as the Nation’s first aid preparedness overall.”

“As a Singaporean company, we understand the local challenges on the ground and have all experienced the limitations of the current products in the market. We are delighted to extend this partnership with SilverACE Senior Activity Centres and Lions Befrienders in a way that reinforces our overall commitment to improve the health and safety of Singaporeans,” Mr Loh added.

During the haze season, the number of patients admitted into hospital for respiratory problems increases by 20 per cent.[1] In general, the elderly, children and people with chronic lung disease and heart disease are more sensitive to the health effects of haze.[2]

Goh Boo Han, Executive Director, Lions Befrienders, says: “We are delighted to be a part of this initiative at a time when N95 masks are in demand due to the anticipated haze. We see this as a positive and proactive measure undertaken by a local company to help the needy and vulnerable elderly.”

Leon Luai, Head Clinical Services and Wellness for NTUC Health, who oversees the SilverACE SACs, says: “We work to empower the elderly to take charge of their health and avoid many of the common health problems they face today. For instance, we have self-help health check stations at our six SACs and we regularly conduct health checks for the seniors. We are happy to partner with Advanced First Aid Research to enable seniors from lower-income families to access quality N95 masks and to ensure that they can be protected during the haze.”

“We are pleased to be part of this meaningful initiative to do more to care for the health of our community. For every mask purchased, Unity customers can equip themselves and their families and also contribute to support needy elderly in Singapore during the haze,” said Bernard Lee, MD and Head, Pharmacy and Health food NTUC Health, who also oversees Unity pharmacies.

Unity pharmacies were among the first to bring in fresh supply of N95 masks during the peak of the haze last year, and they also brought the prices of the masks down to ensure that more working families would be able to obtain the item.

Advanced First Aid Research’s N95 masks are available now in Unity Pharmacies across Singapore in packs of 10 and 20 masks. A 10-piece pack retails for $18.80 while a 20-piece pack retails for $37.80. Advanced First Aid Research will donate a N95 mask to SilverACE Senior Activity Centres and Lions Befrienders for each one sold for the duration of the haze period.

1. Fiona Low, Asthma and Allergy cases up as haze worsens: Docs, The Straits Times. Available fromhttps://www.healthxchange.com.sg/News/Pages/Asthma-and-allergy-cases-up-as-haze-worsens.aspx

2. Health Promotion Board, Impact of Haze on Health. Available from http://www.hpb.gov.sg/HOPPortal/health-article/HPB051226

Photo – http://photos.prnasia.com/prnh/20140728/8521404251

For more information or to request an interview, please contact:

Dickson Tan

Gerald Leong

Edelman Public Relations

Edelman Public Relations

Dickson.Tan@edelman.com

Gerald.Leong@edelman.com

+6563472352

+6564941596

Source: Advanced First Aid Research

Written by asiafreshnews

July 31, 2014 at 3:03 pm

Posted in All releases

Global Survey Reveals Impact of Data Breaches on Customer Loyalty

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-65 percent of adult consumers unlikely to do business again with companies after financial data breach

BALTIMORE /PRNewswire/ — Data breaches have a significant impact on whether a customer will interact with an organization again, according to new research from SafeNet, Inc., a global leader in data protection solutions. The global research surveyed over 4,500 adults across five of the world’s largest economies — US, UK, Germany, Japan, and Australia. It found that nearly two-thirds (65 percent) of respondents would never, or were very unlikely to, shop or do business again with a company that had experienced a data breach where financial data (credit card information, bank account number, or associated login details) was stolen.

http://photos.prnewswire.com/prnvar/20131031/PH07356LOGO

According to the findings of the Q2 Breach Level Index, which were also released today by SafeNet, a total of 237 data breaches occurred this year between April and June 2014[1], exposing more than 175 million records worldwide.  The survey results illustrate the impact that data breaches can have on customer loyalty and corporate revenue. Data breaches involving personal identifiable information were deemed to be slightly less harmful to an organization than breaches involving financial data, with just over half (57 percent) suggesting they would never, or were very unlikely to, shop or do business again with a company that had experienced a data breach of this nature.

“Data breaches are not just breaches of security.  They’re also breaches of trust between companies and their customers, and can result in not only negative publicity but lost business, lawsuits, and fines that can threaten the viability of the business.  For organizations that fail to address their security vulnerabilities, the problem is only going to get worse as stricter regulations governing the reporting of data breaches are introduced across the world, making breaches more visible to the public. So companies need to do all that they can to keep customer data protected,” said Tsion Gonen, chief strategy officer, SafeNet.

For adult respondents saying they would never, or were very unlikely to, shop or do business again with a company that had experienced a data breach where financial data was stolen, the breakdown by countries surveyed is as follows:

  • 54 percent in the US
  • 68 percent in the UK
  • 53 percent in Germany
  • 82 percent in Japan
  • 72 percent in Australia

Only Half of Consumers Feel Companies Take Data Security Seriously
The research also indicated that only half of adults surveyed feel that companies take the protection and security of customer data seriously enough – a sentiment that’s likely to have been influenced by the high volume of data breaches in 2014. During the second quarter alone, data breaches have hit many well-known companies, including AOL, Dominos, eBay, Office, and Spotify, with more than 175 million customer records of personal and financial information compromised worldwide.

“With the increasing frequency and size of data breaches, it’s clear that being breached is inevitable and perhaps only a matter of time. Cyber criminals are going after easier targets, and that is frequently personal data that is often unencrypted. With the implications clear, it’s time for companies to start thinking about protecting more of that data with strong encryption and multi-factor authentication. Only those organizations that adopt a ‘secure breach’ approach and ensure that all customer data remains encrypted will find themselves able to retain their customers should a data breach occur,” Gonen concludes.

Supporting Resources

Notes to Editors
The research from SafeNet polled 4559 adults across 5 countries – US, UK, Germany, Japan, and Australia. The research was carried out between June 27 and July 4, 2014. Respondents consisted of adults who use the Internet.

About SafeNet, Inc.
Founded in 1983, SafeNet, Inc. is one of the largest information security companies in the world, and is trusted to protect the most sensitive data for market-leading organizations around the globe. SafeNet’s data-centric approach focuses on the protection of high-value information throughout its lifecycle, from the data center to the cloud. More than 25,000 customers across commercial enterprises and government agencies trust SafeNet to protect and control access to sensitive data, manage risk, ensure compliance, and secure virtual and cloud environments. Learn more about SafeNet on Twitter, LinkedIn, Facebook, YouTube, and Google+.

SafeNet Media Contact:
Amanda Curtis
(443) 327-1276
amanda.curtis@safenet-inc.com

Anina Steele
+441276608055
Anina.Steele@safenet-inc.com

Logo – http://photos.prnewswire.com/prnh/20131031/PH07356LOGO

[1] SafeNet Breach Level Index: http://www.breachlevelindex.com

Source: SafeNet, Inc.

Written by asiafreshnews

July 31, 2014 at 2:16 pm

375 Million Customer Data Records Compromised in 2014 – Retail Industry Hit Hardest

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-Identity Theft Main Reason for Breaches and Survey Shows 40 Percent of Consumers Very Unlikely To Do Business with Breached Companies

BALTIMORE /PRNewswire/ — SafeNet, Inc., a global leader in data protection solutions, today released the highlights from its SafeNet Breach Level Index (BLI) for the second quarter of 2014. Between April and June of this year, there were a total of 237 breaches that compromised more than 175 million customer records of personal and financial information worldwide. For the first half of 2014, more than 375 million customer records were stolen or lost as a result of 559 breaches worldwide. The retail industry had more data records compromised than any other industry during the second quarter, with more than 145 million records stolen or lost, or 83 percent of all data records breached. Less than one percent of all 237 breaches during the second quarter were secure breaches where strong encryption or authentication solutions protected the data from being used.

SafeNet also announced the results of a global survey of more than 4,500 adult consumers in which nearly 40 percent of respondents said they would never, or were very unlikely to, shop or do business again with a company that had experienced a data breach. This sentiment increased to 65 percent if the data breach involved customers’ financial and sensitive information.

Q2 Highlights
The Breach Level Index provides details about hundreds of individual data breaches, which can be sorted by source, industry, risk level, and date. Highlights from the second quarter include:

  • In each of the last four consecutive quarters, there has been one major data breach in which more than 100 million records were exposed.
  • 175,655,228 records were stolen in the second quarter. This equates to 1,951,724 records stolen per day; 81,321 stolen per hour; and 1,355 records stolen every second.
  • Malicious outsiders are targeting businesses’ most critical records. They are responsible for compromising 99 percent of the records and 56 percent of the incidents this quarter, more than any other source.
  • Healthcare incurred 23 percent of incidents, more than any other industry, but only accounted for 782,732 records lost or less than 1 percent of all records stolen during the quarter.
  • Identity theft was the leading cause of breaches with 58 percent of all incidents and 88 percent of records stolen.
  • Encryption was used in only 10 of the 237 reported data breach incidents. Of those, only two could be classified as secure breaches in which encryption restricted the access of stolen data.
  • The U.S. accounted for 85 percent of records compromised worldwide and 74 percent of all reported incidents, more than any other country. Germany followed with 10 percent of all records stolen.
  • Three of the top five breaches were based in the U.S., with the other two breaches occurring in Europe.
  • Government was the second least secure sector after retail, accounting for 11 percent of all records that were lost or stolen. The Department of Veterans Affairs incurred the most breaches, having been hacked during each quarter of 2014.
  • Financial services breaches decreased significantly from the first quarter, down from 56 percent to less than one percent of records stolen in the second quarter.

“Even amidst continued warnings about data security, the breach epidemic is trending in the wrong direction. 2014 has proven to be more of the same, with 375 million customer records stolen in the first six months alone,” said Tsion Gonen, chief strategy officer, SafeNet. “While it’s not surprising that sophisticated cybercriminals are gaining access to critical data stores, what is surprising is that only one percent of breached records had been encrypted. The benefits of encryption have been known for some time, but companies just aren’t doing it. It’s the security industry’s equivalent of flossing your teeth. Everyone knows it’s good for you and the technology is proven, but only a small percentage of companies do it well.”

About the Breach Level Index
The BLI provides a centralized, global database of data breaches and calculates their severity based on multiple dimensions, including the type of data and the number of records stolen, the source of the breach, and whether or not the data was encrypted. By assigning a severity score to each breach, the BLI provides a comparative list of breaches, distinguishing nuisances from truly impactful mega breaches. Information populating the BLI database is based on publicly available breach disclosure information.

SafeNet first collaborated with industry analyst firm IT-Harvest in 2013 to develop the logarithmic formula used to determine breach severity. When calculating the severity of data breaches, the BLI factors in multiple inputs, including data type, number of records stolen, breach source, and if the high-value data remained secure after the breach was discovered. These inputs are then processed through a proprietary algorithm that produces an index number, with one (1) being least severe and 10 being most severe.

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About SafeNet, Inc.
Founded in 1983, SafeNet, Inc. is one of the largest information security companies in the world, and is trusted to protect the most sensitive data for market-leading organizations around the globe. SafeNet’s data-centric approach focuses on the protection of high-value information throughout its lifecycle, from the data center to the cloud. More than 25,000 customers across commercial enterprises and government agencies trust SafeNet to protect and control access to sensitive data, manage risk, ensure compliance, and secure virtual and cloud environments. Learn more about SafeNet on Twitter, LinkedIn, Facebook, YouTube, and Google+.

Note: Information in the Breach Level Index is collected from public sources. SafeNet provides this information “as-is”, makes no representation or guaranties regarding this information, and is not liable for any use. A secure breach is categorized as a breach in which strong encryption, key management, and authentication solutions protect the data from being accessed during an attack.

SafeNet Media Contact:
Amanda Curtis
(443) 327-1276
amanda.curtis@safenet-inc.com

Anina Steele
+441276608055
Anina.Steele@safenet-inc.com

Photo – http://photos.prnewswire.com/prnh/20140729/130782

Source: SafeNet, Inc.

Written by asiafreshnews

July 31, 2014 at 1:05 pm