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Indian organisations are significantly ramping up their cybersecurity investments amid rising digital threats, according to PwC report. Assembly Election Results Live Updates Maharashtra Election Results Jharkhand Election Results Bypoll Election Results 93 % of Indian executives plan to increase their cybersecurity budgets in 2025, with 17% expecting increments of 15% or more, a 1% rise from last year. This underscores the critical importance of cybersecurity, which 61 % of executives identified as their top risk mitigation priority, surpassing digital risks (60%), inflation (48%), and environmental risks (30%). Data breaches remain a pressing concern, with one in three organisations reporting breaches costing over $1 million in the past three years. Additionally, 42% of Indian business leaders are prioritising data protection and remediation as key areas of focus in response to recent cyber incidents. Cloud-related threats emerged as the top risk for 55% of executives, a 3% increase from the previous year. However, half of the security leaders and chief financial officers (CFOs) surveyed admitted they feel least prepared to tackle these risks. 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Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories He added, "By embracing advanced technologies, adhering to foundational cybersecurity principles, and allocating resources effectively, organisations need to stay committed to fortifying defences and safeguarding their future." Regulatory compliance continues to play a pivotal role in shaping cybersecurity strategies. The report found that 74% of CXOs have strengthened their cybersecurity posture in response to evolving regulations. Sundareshwar Krishnamurthy, partner and leader -cybersecurity, PwC India, emphasised, cyber regulations are consistently driving heightened cybersecurity spending, with every executive surveyed acknowledging that regulatory mandates have driven them to bolster their security measures. Generative AI (Gen AI) is proving to be a game-changer in cybersecurity, with 87% of organisations increasing investments in Gen AI for cyber defence strategies. Furthermore, 86% of companies have boosted spending on AI governance , while 80% expressed confidence in their ability to comply with AI regulations. This trend underscores the growing reliance on advanced technologies to tackle increasingly complex cyber threats. Despite the heightened focus on cybersecurity, challenges persist. Only 20% of organisations employ robust methodologies for quantifying cyber risks, which limits their ability to prioritise strategic investments. Sivarama Krishnan noted, "Although a majority of senior leaders acknowledge the importance of quantifying cyber risk to prioritise investments, only one-fifth of organisations are adopting thorough risk quantification methodologies." While 8% of security leaders reported data breaches costing over $20 million, a decrease of 3% from last year, 44% experienced breaches with costs exceeding $500,000 in the past three years. Moreover, 33% of leaders acknowledged that most of their serious data breaches incurred costs of at least $1 million. Assembly Election Results Live Updates Maharashtra Poll Results Highlights 2024 Jharkhand Poll Results Highlights 2024
Provides 2000 A15 Hydro Bitcoin mining machines in initial order Continues global expansion with addition of new customer SINGAPORE , Dec. 12, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that Canaan Creative Global Pte. Ltd. ("CCG"), a wholly owned Singapore subsidiary of the Company, has entered into a purchase agreement with AGM Group Holdings Inc. ("AGMH"), an integrated technology company specializing in fintech software services and production of high-performance hardware and computing equipment, for its Avalon A15 HydU 370T ("A15 Hydro") mining machines. As part of the agreement, Canaan will initially provide 2,000 Bitcoin mining machines to AGMH. The Company has also agreed to provide its customer with an option to acquire approximately 30,000 additional BTC mining units, potentially providing AGMH with a combined power capacity not exceeding 300 megawatts. The Avalon Miner A15 Hydro enhances the miner's performance and lifespan while reducing energy consumption and noise pollution, aligning with Canaan's ESG (Environmental, Social, and Governance) strategy. About Canaan Inc. Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan's founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology in bitcoin 's history under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/ . Safe Harbor Statement This announcement contains forward−looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.'s strategic and operational plans, contain forward−looking statements. Canaan Inc. may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.'s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin ; the Company's expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company's expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company's investment plans and strategies, fluctuations in the Company's quarterly operating results; competition in its industry; and relevant government policies and regulations relating to the Company and cryptocurrency . Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward−looking statement, except as required under applicable law. Investor Relations Contacts Canaan Inc. Xi Zhang Email: IR@canaan-creative.com ICR, LLC. Robin Yang Tel: +1 (347) 396-3281 Email: canaan.ir@icrinc.com View original content: https://www.prnewswire.com/news-releases/canaan-inc-signs-agreement-with-agm-group-holdings-inc-302330362.html SOURCE Canaan Inc. Stay Informed: Subscribe to Our Newsletter Today
Where to watch USWNT vs. Netherlands in last game of 2024Andy Murray and Novak Djokovic’s magnificent seven grand slam finalsFacing the prospect of widespread tariffs that could plunge the Canadian economy into recession, Alberta's premier is responding to the concerns of U.S. president-elect Donald Trump, in the hopes of avoiding the 25 per cent tariffs if illegal immigration and drug flow are not addressed. "Well, look, let's stop the leaky border first. Let's stop the illegal migration first. Let's stop the fentanyl first. Let's meet our NATO commitment first, and let's see where we get with the Americans," Danielle Smith said last week on CBC's Power & Politics . After premiers held an emergency meeting Wednesday with the federal government about the threatened tariffs, Smith said the province would act "urgently and decisively" to patrol the shared border between Alberta and Montana, with details still to come. Smith noted the problem was "much more serious" at the U.S.-Mexico border, but said that didn't diminish the need for provinces to crack down on illegal migrants and drug smuggling at the U.S.-Canada border. Donald Trump threatens 25% tariff on products from Canada, Mexico Alberta still creating border plan to meet U.S. demands, premier says To be certain, the smuggling of the synthetic opioid fentanyl — which Trump has singled out as being a chief concern — has historically been an issue of significantly higher magnitude at the Mexican border. Approximately 20 kilograms of fentanyl were seized at the Canada-U.S. border from October 2023 to September 2024, compared to more than 9,500 kilograms at the Mexico-U.S. border, according to U.S. Customs and Border Protection (CBP) data . Trump lumped together Canada, Mexico as border issues. Data shows it's apples and oranges CBC Investigates Sixteen caught crossing illegally into U.S. from Quebec in days before Trump tariff threat Alberta's share is minor. The Havre border patrol sector, which covers most of the border between Canada and Montana, seized around three pounds (around 1.4 kilograms) of fentanyl in fiscal year 2024, according to CBP data. The Seattle Field Office also had three pounds, for a total of six (2.7 kilograms). Across the Havre sector, the number of "encounters" — referring to those people apprehended for sneaking over the border between the ports of entry, according to a CBP spokesperson — vary per month, with 100 registered in fiscal year 2024. A complicated issue In the view of Alberta's public safety minister, any amount of fentanyl seized at the Montana border is a problem. "[It] should not be taken lightly as it has the potential to harm thousands of people. The problem at the border is not only what has been seized but what has not been seized, increasing the concern for public safety," Mike Ellis wrote in a statement. Mount Royal University criminologist Kelly Sundberg, a former officer of the Canada Border Services Agency, said numbers of reported seized drugs are low, but actual numbers are likely higher. Kelly Sundberg, a criminologist at Mount Royal University in Calgary, says while reported numbers of drug seizures at the U.S. border are low, he believes the actual amount going through is likely much higher. (John Badcock/CBC) "There's not as many officers on the northern border ... there's a lot of stuff that gets through that border without anyone knowing," Sundberg said. "Without question, yes, they seized a few kilograms, but you could probably times that by 10." In Sundberg's view, Alberta's plan illustrates how neglected border security has been in Canada for the past decade. "It's not an ideal approach. It's definitely a stopgap for right now. But I think that our governments have to start working together and [find] a solution," Sundberg said. Mark Weber, national president of the Customs and Immigration Union, the union that represents staff and officers of the Canada Border Services Agency, said how "leaky" the border is depends on which way the issue is defined. "If we're talking about things getting into the U.S., that's not really our prerogative to be dealing with those," Weber told the Calgary Eyeopener. "I think there's a little bit of confusion about which way the enforcement should be happening. The U.S. secures their border, and we secure ours." Calgary Eyeopener 7:32 "Leaky" Alberta border How leaky is the Alberta border with the United States? We hear from the National President of the Customs and Immigration Union. Coming into Canada, there are significant issues, according to Weber. That includes fewer available officers. "We're down about 2,000 to 3,000 officers we need across the country. There are significant concerns regarding what comes into the country as well," he said. There are concerns about security through land crossings and through air travel, but rail remains a big challenge, according to Weber. Canada has neglected border security for a decade: ex-CBSA agent | Canada Tonight 19 days ago Duration 6:00 Former CBSA officer Kelly Sundberg says the Canadian government has neglected border security for a decade and isn't prepared for the 'tsunami' of people who will head toward its border if Donald Trump's administration carries out its promised U.S. mass deportations. "We don't look at them at all. The Canada Border Services Agency simply does not deal with rail. We don't have the infrastructure to do it. We don't have the staff to do it. We're essentially blind in terms of what comes into the country through rail," he said. Ellis, Alberta's public safety minister, previously said he's reaching out to the attorney general of Montana to talk about working together on border measures. A spokesperson for Montana Attorney General Austin Knudsen declined an interview request, but wrote in a statement that the attorney general continued to monitor the situation and was in regular communication with Customs and Border Protection regarding illegal crossings and drug activity.