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UTIMACO HARDWARE SECURITY MODULES ACHIEVE PAYMENT CARD INDUSTRY COMPLIANCE

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UTIMACO HARDWARE SECURITY MODULES ACHIEVE PAYMENT CARD INDUSTRY COMPLIANCE

CryptoserverCSe 10 &CSe 100 PCI HSM compliance ensures secure transactions for payments industry

Utimaco has achieved Payment Card Industry PIN Transaction Security Hardware Security Module Version 2 (PCI PTS HSM V2) compliance for uncontrolled environments for its CryptoServerCSe HSM platform from the PCI Standards Security Council, giving the payment card industry and consumers confidence that their data will be secure throughout the transaction process when using Utimaco’s HSM.

Utimaco’sCryptoServerCSe HSM was designed to secure card payment systems as a high-performance security platform with active tamper resistance, protecting cryptographic keys and other sensitive information such as customer PINs and cardholder data. The PCI HSM certification for the updated CryptoServer hardware platform demonstrates Utimaco’s ability to deliver innovative and high-quality security solutions, even in the most rigorous and demanding environments.

Utimaco also offers open-payment APIs, empowering vendors with a fully customizable HSM that can adapt to changing industry needs, and can help certify customized firmware solutions.

“The sensitive nature of payment transactions requires a high level of security, and as breaches and exploits rise, financial institutions need a secure solution to protect their customers and themselves from costly attacks,” said Matthias Pankert, Utimaco Senior Vice President. “With this new compliance standard from the PCI Standards Security Council, a respected and independent organization, Utimaco guarantees the highest level of security to meet the needs of enterprises and consumers alike.”

HSMs are a fundamental tool for securing payment transactions and ensuring the highest standards of security. Now, banks and credit card companies using an Utimaco HSM when issuing EMV chip technology payment cards or implementing payment processes like PIN processing, card verification, card production, ATM interchange and more, will have the benefit of completing these transactions securely and efficiently, while adhering to PCI SSC mandates.

Pankert continued, “We are particularly proud that we received a PCI HSM certification for the most demanding requirement profile, focusing on physical security if used in controlled and uncontrolled environments like non-ISO certified data centers. This demonstrates our commitment to achieving internationally recognized standards and compliance requirements, while delivering innovative, high quality security solutions. Our next step will be the launch of our first HSM PaymentServer in Q4 2017.”

The PCI SSC created practical security compliance standards for HSMs in the payments industry. Current mandates and encryption standards issued by the PCI SSC require a PCI HSM for all payment-related HSMs, and it is expected to become the default standard for future systems. The qualification will ultimately create a higher-level of security for card holder information within the global payments network and merchant facilities worldwide.

For more information on Utimaco’s PCI HSM certification, and to be one of the first to know about the upcoming launch of the HSM PaymentServer, contact https://hsm.utimaco.com/contact.

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Japan’s jobless rate seen up in January due to COVID-19 emergency measures – Reuters poll

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Japan's jobless rate seen up in January due to COVID-19 emergency measures - Reuters poll 1

TOKYO (Reuters) – Japan’s jobless rate is expected to have edged up in January as service industry businesses suffered renewed restrictions on movement to fight spread of the coronavirus in some areas, including Tokyo, a Reuters poll of economists showed on Friday.

While industrial production activity picked up in Japan, emergency curbs rolled out last month such as asking restaurants to close early and suspending the national travel campaign hurt the jobs market, analysts said.

The nation’s unemployment rate likely rose 3.0% in January, up from 2.9% in December, the poll of 15 economists found.

The jobs-to-applicants ratio, a gauge of the availability of jobs, was seen at 1.06 in January, unchanged from December, but stayed near September’s seven-year low of 1.03, the poll showed.

“As the impact from the coronavirus pandemic prolongs, it is hard for firms, especially the service sector, to expect their business profits to improve,” said Yusuke Shimoda, senior economist at Japan Research Institute.

“So, their willingness to hire employees appear to be subdued and it is difficult to see the jobs market recovering soon.”

Some analysts also said the government’s steps to support employment and existing labour shortages will likely prevent the jobless rate from worsening sharply.

The government will announce the labour market data at 8:30 a.m. Japan time on Tuesday (2330 GMT Monday).

Analysts expect the economy to contract in the current quarter due to the emergency measures to counter the spread of the disease.

(Reporting by Kaori Kaneko; Editing by Simon Cameron-Moore)

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China’s economy could grow 8-9% this year from low base in 2020 – central bank adviser

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China's economy could grow 8-9% this year from low base in 2020 - central bank adviser 2

BEIJING (Reuters) – China’s gross domestic product (GDP) could expand 8-9% in 2021 as it continues to rebound from the COVID-19 pandemic, Liu Shijin, a policy adviser to the People’s Bank of China, said on Friday.

This speed of recovery would not mean China has returned to a “high-growth” period, said Liu, as it would be from a low base in 2020, when China’s economy grew 2.3%.

Analysts from HSBC this week forecast that China would grow 8.5% this year, leading the global economic recovery from the pandemic.

If 2020 and 2021’s average GDP growth is around 5%, this would be a “not bad” outcome, said Liu, speaking at an online conference.

China is set to release a government work report on March 5 which typically includes a GDP growth target for the year.

Last year’s report did not include one due to uncertainties caused by the coronavirus. Reuters previously reported that 2021’s report will also not set a target.

(Reporting by Gabriel Crossley and Muyu Xu; Editing by Sam Holmes and Ana Nicolaci da Costa)

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Japan’s January factory output rises for first time in three months, retail sales drop

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Japan's January factory output rises for first time in three months, retail sales drop 3

By Daniel Leussink

TOKYO (Reuters) – Japan’s industrial output rose for the first time in three months in January thanks to a pickup in global demand, in a welcome sign for an economy still looking to shake off the drag of the coronavirus pandemic.

But retail sales, a key gauge of consumer spending, posted their second straight month of declines in January as emergency measures taken in response to the pandemic hit consumption.

Official data released on Friday showed factory output advanced 4.2% in January, boosted by sharp rises in production of electronic parts and general-purpose machinery, as well as a smaller increase in car output.

“Manufacturers will continue to increase output over the near term as long as there won’t be any big shock,” said Taro Saito, executive research fellow at NLI Research Institute.

While economic growth will likely be negative in the first quarter, the strength in manufacturing would offset the negative impact of a state of emergency at home, which is mainly affecting the services sector, he said.

The rise in output, which followed a 1.0% fall the previous month, was largely in line with a 4.0% gain forecast in a Reuters poll of economists. Manufacturers surveyed by the Ministry of Economy, Trade and Industry (METI) expect output to grow 2.1% in February, followed by a 6.1% decline in March.

The government kept its assessment of industrial production unchanged, saying it was picking up.

Factory output fell in November and December as a rebound in car production ended on sagging global demand, but since then strong demand for tech-making equipment and electronic goods has helped turn the tide.

Still, some analysts worry that Japan’s economic recovery will remain hobbled by weaker conditions at home and as lockdown measures taken around the world to contain the COVID-19 crisis, particularly in Europe, weigh.

The government also released data on Friday showing retail sales fell 2.4% in January compared with the same month a year earlier, in a sign households tightened their purse strings as the coronavirus staged a resurgence.

The fall, which was in line with a 2.6% drop seen by economists in a Reuters poll, was largely due to sharp contractions in general merchandise and fabrics apparel spending. It followed a 0.2% fall in December.

Compared to a month earlier, retail sales in January fell 0.5% on a seasonally adjusted basis for the third straight month of declines. But the pace of decline was slower than in the previous two months.

“We think consumer spending will only fall around 1% quarter-on-quarter this quarter,” said Tom Learmouth, Japan economist at Capital Economics.

“We expect it to rise fairly strongly over the coming quarters as the recovery resumes and is soon given a shot in the arm by vaccines,” he added.

(Reporting by Daniel Leussink; Editing by Sam Holmes and Richard Pullin)

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