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Economy WRK

On the Cusp of Gender Parity – But Leaking Pipeline Means Hong Kong Women Still Under-Represented at Senior Levels

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HONG KONG, July 22, 2014 /PRNewswire/ — Hong Kong is seeing an encouraging improvement in gender parity across the total workforce and at junior and middle levels, but women are still under-represented in senior positions, according to the study ‘Gender Diversity Benchmark for Asia 2014′ (GDBA 2014) released today. The lead sponsor of the report is Bank of America Merrill Lynch, as part of its efforts to promote diversity and inclusion.

Download the media briefing and the launch event photos: http://www.communitybusiness.org/events/2014/GDBA2014/GDBA2014_Launch.htm

The study benchmarks the gender diversity of more than 30 multinational companies in six markets across Asia, including Mainland China, Hong Kong, India, Japan, Malaysia, and Singapore. It is conducted by Community Business, a leading not-for-profit organisation specialising in corporate responsibility and a thought leader on diversity and inclusion in Asia.

The report reveals that when it comes to the average representation of women in the total workforce and at junior levels, companies in Hong Kong are achieving or exceeding gender parity. The average representation of women in the total workforce in Hong Kong is 50.9%, ranking third in Asia. This compares with 44.3% when the survey was last conducted in 2011. At junior levels the average representation of women is 57.5%, and despite ranking fifth across the region at this level, 83.3% of companies in Hong Kong have 50% or more women at this level. At middle levels too, the average percentage of women continues to be reasonably strong at 45.7%, above the regional average at this level of 39.0%. 

However, women locally continue to face barriers to senior positions with the representation of women in senior management levels at only 29.4%. While higher than the regional average of 24.3%, the biggest leak in the pipeline remains between middle to senior level positions, with an average 35.8% drop in the representation of women between these levels. This puts the city third in Asia, behind Mainland China (35.6%) and Malaysia (34.0%) which rank first and second respectively, but ahead of Singapore in fourth place (23.7%).

Findings show that across the region companies have taken commendable steps to create an enabling environment for women and policies such as flexible working practices are well established in all markets.  This is true in Hong Kong too, although Hong Kong performs below the regional average on a number of the indicators, including maternity leave (87.1 days versus regional average of 101.1 days) and paternity leave (5.0 days versus a regional average of 5.2 days).

The senior executives interviewed and featured in the study generally acknowledged that, based on the findings of this GDBA 2014, the representation of women in senior positions remains low in Asia.  However, for the most part they were optimistic about the future, pointing to the growing recognition of the link between increased gender diversity and enhanced business performance. They highlighted the importance of driving cultural change in organisations from the top, and shared the key role that they are playing — leading by example and proactively engaging men and women on this issue.

Commenting on the findings, Fern Ngai, CEO of Community Business said: “Overall we are pleased to see some signs of real progress in this latest study. Of course, much more needs to be done and performance varies across the region. Here in Hong Kong as in other markets, women continue to be under-represented at senior levels in organisations and we need to continue to address this.  However, overall these gradually improving numbers show that moving the needle and achieving greater gender balance, if not gender parity at all levels, is indeed an achievable goal in Hong Kong.”

“A diverse workforce is fundamental to the success of our business, providing a broader range of experience and perspective from the best talent available” says Bernhard Steiner, Bank of America Merrill Lynch Asia Pacific Chief Risk Officer, who chairs the company’s regional diversity and inclusion council. “This report shows encouraging progress in junior and middle management in Hong Kong and Asia. Ensuring that progress is mirrored in senior leadership roles is not just a women’s issue, but I believe should be a leadership priority. We are proud of the progress made to date within our organisation and this report further reinforces our sustained commitment to promote gender diversity across the region.”

Regional Highlights:

  • Encouraging signs of progress: Comparing performance with the 2009 and 2011 studies, there is a general upward trend in all markets with the most noticeable improvements taking place in Mainland China and Malaysia.
  • Strong representation at junior and middle levels: In all markets except India, the average representation of women at junior levels exceeds 50%, whilst in Mainland China, Malaysia, Hong Kong and Singapore, it exceeds 40% at middle levels.
  • Gender parity — an achievable goal: A significant number of companies are now achieving gender parity at certain levels in their organisations — showing that this is an increasingly achievable goal. Over half of companies in Mainland China (65.5%) and Malaysia (52.9%) have achieved or exceeded gender parity at middle levels, whilst over a third (35.3%) of companies in Malaysia have done the same at senior levels.
  • Widening gap in performance:  However, the progression is more pronounced in certain markets than others, widening the gap between the best and worst performing countries in the region. Mainland China (35.6%) and Malaysia (34.0%) show the most marked improvement — particularly in terms of the representation of women at senior levels, whilst Japan (11.0%) and India (10.6%) show nominal change and are barely achieving double digit figures at this level.
  • Regional averages remain low: Despite signs of improvement in certain markets, the overall representation of women at middle and senior levels remains low across the six markets. The regional average at middle levels is 39.0% and this falls to just 24.3% at senior levels.
  • Leaking pipeline an on-going challenge in all markets in Asia: Companies continue to experience a significant loss of women from one level to the next. The average rate of decrease across the region is 30.7% from junior to middle levels and 37.8% from middle to senior levels. The leaking pipeline is a particular issue in India from junior to middle levels (-45.9%) and in Japan from middle to senior levels (-61.3%).
  • Demonstrated commitment to creating enabling environments: Companies have taken commendable steps to create an enabling environment for their women. In particular, maternity leave, paternity leave and flexible work arrangements are offered by virtually all companies in all markets, whilst women’s networks, on-ramping support and professional development programmes are also widely embraced by companies.
  • Existence of policies and programmes does not necessarily correlate to strong performance: More companies in Japan and India offer support to working parents and professional development programmes for women than in the other markets — and yet the average representation of women at middle and senior levels in these markets are the lowest. Similarly, companies in Malaysia offer the shortest maternity leave and the least support to women in the form of women’s networks, on-ramping support and professional development – yet Malaysia performs well on all data points.

The research is also funded by Secondary Sponsors Brown-Forman and Google.   

 “We were pleased to have had an opportunity to be a Secondary Sponsor of this Gender Diversity Benchmark for Asia 2014 by Community Business. Women are key to the growth and sustainability for our business as well as the countries in which our business operates. That means many of our mental models related to women in the workplace must not only change but it is essential that men play a role in that process.” said Ralph de Charbert, Chief Diversity Officer at Brown-Forman.

“This report reminds us that, while the past few years have resulted in positive change for the representation of women at all levels, there’s still plenty of room for improvement. Equipped with this data, we can better understand the extent of the challenges for gender diversity in Asia, track progress over time, and be a bigger part of the solution.” said Keerthana Mohan, Head of Diversity & Inclusion at Google.

The table below shows the average representation of women (%) at different levels — on a regional basis as well as the best and worst performing geographies:

Total Workforce %
& ranking

Junior Levels %
& ranking

Middle Levels %
& ranking

Senior Levels %
& ranking

REGIONAL AVERAGE

47.5%

56.3%

39.0%

24.3%

Mainland China

56.7 (2)

64.9 (1)

49.6 (2)

35.6 (1)

Hong Kong

50.9 (3)

57.5 (5)

45.7 (3)

29.4 (3)

India

26.6 (6)

30.3 (6)

16.4 (6)

10.6 (6)

Japan

42.6 (5)

59.2 (3)

28.4 (5)

11.0 (5)

Malaysia

58.1 (1)

63.0 (2)

50.3 (1)

34.0 (2)

Singapore

48.2 (4)

58.5 (4)

40.6 (4)

23.7 (4)

Dedicated to progressing discussion on gender issues and boarder topics of diversity & inclusion (D&I) in the workplace, Community Business will hold its bi-annual regional Diversity & Inclusion in Asia Conference on 11 & 12 November 2014 in Hong Kong. This Conference, since its debut in 2005, has become the primary forum for discussion on D&I issues as they relate to Asia — with an established reputation for bringing together the most inspirational and informed speakers on the subject and pushing the boundaries of discussion. For the first time, Community Business offers a programme of sessions and activities on Day 1 of the Conference around the gender topics. This Day 1 programme is designed specifically for those looking to leverage the competitive advantage that female talent brings to leadership and organisational success in Asia. For more information, http://programme.communitybusiness.org/diasiaconf2014/.

Economy PUB

Frost & Sullivan: Heavy Maintenance Segment Dominates the Military Support in Service Market

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LONDON, July 22, 2014 /PRNewswire/ — The heavy maintenance segment has the highest potential for revenue generation among military support in services, as the defence sector is evolving into a support in service (SIS) oriented market. Expensive cost of new combat platforms purchase, along with budget pressures, is compelling the defence sector to extend the lifecycles of military platforms far beyond the original average of 30 years. This translates to substantial revenues for military SIS providers.

Additionally, as older platforms require heavier, more intensive, and expensive maintenance, most original equipment manufacturers (OEMs) will experience higher revenues from maintenance and retrofit contracts.

New analysis from Frost & Sullivan, Global Military Support in Service Platforms Market Assessment, finds that the market earned revenues of $50.73 billion in 2013 and estimates this to reach $63.58 billion by 2022, at a compound annual growth rate of 2.5 percent. North America is likely to be the biggest military SIS platforms market globally. However, it is the Asia-Pacific market that is likely to register the highest compound annual growth rate. The study covers 5 main SIS activity segments: line maintenance, heavy maintenance, spare parts, modernisation/upgrades, and training.

The SIS market remains relatively unaffected by the downturn, mainly because the complexity of combat platforms compels the use of permanent support.

Innovations such as additive manufacturing are supporting the SIS market by enabling deployed, frontline units to print required parts on site from available materials such as aluminium, plastic, titanium and steel. This has revolutionised access to necessary parts for potential life-saving military equipment by allowing spares to be produced on the spot instead of having to be shipped.

“Acknowledging the rising sophistication of weaponry and tightening budgets, defence contractors are expected to provide SIS packages as a part of the main contract for the supply of modern combat platforms,” said Frost & Sullivan Aerospace & Defence Industry Analyst Dominik Kimla, PhD. “They will also be seeking to enter into partnerships with local military SIS providers by setting up joint-ventures and strategic partnerships due to the growing role of local companies.”

This collaborative approach is in line with the industrialisation policy of governments, aimed at enhancing national capabilities through technology transfers and local partnerships.

“Defence suppliers must demonstrate the ways in which outsourcing of SIS can lead to reduced operational costs in the next five to seven years,” noted Kimla. “This is critical, as Ministries of Defence are looking for methods to reduce costs and simultaneously improve the readiness of their forces.”

Overall, the market will continue to grow despite the cutbacks in the defence sector, as governments all over the world are attempting to streamline their spending and outsource SIS activities to private companies.

If you are interested in more information on this study, please send an email to Edyta Grabowska, Corporate Communications, at edyta.grabowska@frost.com.

Global Military Support in Service Platforms Market Assessment is part of the Defence (http://www.defense.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Global Military Systems Support-in-Service Market Assessment, Global Helicopter & Systems Market: Capturing Growth Opportunities across the Rotorcraft Industry, Emerging Applications for Unmanned Aerial Systems (UAS) Across Global Government and Commercial Sectors, among others. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

Health Care

R&D To Develop Cost Effective Products Will Be Crucial in the ANZ RFID Market, Says Frost & Sullivan

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SYDNEY, July 22, 2014 /PRNewswire/ — The need to optimise business processes is prompting organisations across Australia and New Zealand (ANZ) to adopt radio-frequency identification (RFID) solutions. The transport and logistics sector, in particular, has deployed these solutions for rail freight transport, truck tracking, and vehicle traffic management applications. Such implementations are expected to help increase awareness of RFID technology and, in turn, fuel deployments.

New analysis from Frost & Sullivan, Analysis of the ANZ RFID Market, finds that the market earned revenues of $33.0 million in 2013 and estimates this to reach $72.1 million in 2018 at a compound annual growth rate of 16.9 percent. The study covers the end-user segments of transport and logistics, livestock, healthcare and retail. Among these verticals, healthcare is likely to witness the highest growth during the forecast period.

“Currently, RFID solutions are used in the healthcare industry for applications such as patient monitoring, asset tracking and implant tracking,” said Frost & Sullivan Measurement & Instrumentation Research Analyst Vivek K Reghu. “However, with Australian hospitals expected to adopt ICT technologies to develop a fully integrated healthcare system by 2020, the application areas of RFID will expand.”

The implementation of mandatory livestock tracking programs across ANZ is driving the demand for RFID solutions that can help establish a national livestock identification system and improve the traceability of livestock. RFID adoption rates in the livestock industry will strengthen also due to a rising concern about the cost that would have to be incurred in the case of disease outbreaks. The Australian Bureau of Agricultural and Resource Economics and Sciences estimates that foot-and-mouth disease, for instance, could cost the Australian livestock sector around $50 billion over 10 years.

Nevertheless, many players in the livestock industry cannot afford to integrate RFID solutions. The New South Wales Department of Primary Industries estimates that the implementation of a RFID system could cost livestock owners approximately six percent of their gross profit. Besides cost, the existence of a robust infrastructure for barcode technology, especially in the retail sector, is discouraging the uptake of RFID. Uncertainty about the return on investment in RFID solutions and end users’ unwillingness to move away from the current technology they use are also slowing down market development.

“As price is the biggest challenge in this market, RFID vendors in ANZ need to focus on R&D to develop high-quality products that are cost effective,” pointed out Vivek. “They will do well to provide customised RFID solutions as opposed to off-the-shelf ones.”

For more information on this study, please email Donna Jeremiah, Corporate Communications, at djeremiah@frost.com.

Analysis of the ANZ RFID Market is part of the Automatic Identification (http://www.autoid.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Global 2D-Barcode Scanners Market, Global RFID in Manufacturing Market, Global RFID Tags Market, and Southeast Asia Radio Frequency Identification 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 organisation 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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Health Care

International team sheds new light on biology underlying schizophrenia

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CAMBRIDGE, Mass., July 22, 2014 /PRNewswire/ — As part of a multinational, collaborative effort, researchers from the Broad Institute, Massachusetts General Hospital (MGH), and scores of other institutions from all over the world have helped identify over 100 locations in the human genome associated with the risk of developing schizophrenia in what is the largest genomic study published on any psychiatric disorder to date. The findings, which are published online in Nature, point to biological mechanisms and pathways that may underlie schizophrenia, and could lead to new approaches to treating the disorder, which has seen little innovation in drug development in more than 60 years.

Logo – http://photos.prnewswire.com/prnh/20140520/89735

Schizophrenia, a debilitating psychiatric disorder that affects approximately 1 out of every 100 people worldwide, is characterized by hallucinations, paranoia, and a breakdown of thought processes, and often emerges in the teens and early 20s. Its lifetime impact on individuals and society is high, both in terms of years of healthy life lost to disability and in terms of financial cost, with studies estimating the cost of schizophrenia at over $60 billion annually in the U.S. alone.

Despite the pressing need for treatment, medications currently on the market treat only one of the symptoms of the disorder (psychosis), and do not address the debilitating cognitive symptoms of schizophrenia. In part, treatment options are limited because the biological mechanisms underlying schizophrenia have not been understood. The sole drug target for existing treatments was found serendipitously, and no medications with fundamentally new mechanisms of action have been developed since the 1950s.

In the genomics era, research has focused on the genetic underpinnings of schizophrenia because of the disorder’s high heritability. Previous studies have revealed the complexity of the disease (with evidence suggesting that it is caused by the combined effects of many genes), and roughly two dozen genomic regions have been found to be associated with the disorder. The new study confirms those earlier findings, and expands our understanding of the genetic basis of schizophrenia and its underlying biology. 

“By studying the genome, we are getting a better handle on the genetic variations that are making people vulnerable to psychiatric disease,” said Tom Insel, director of the National Institute of Mental Health, which helped fund the study. “Through the wonders of genomic technology, we are in a period in which, for the first time, we are beginning to understand many of the players at the molecular and cellular level.”

In the genome-wide association study (GWAS) published in Nature, the authors looked at over 80,000 genetic samples from schizophrenia patients and healthy volunteers and found 108 specific locations in the human genome associated with risk for schizophrenia.  Eighty-three of those loci had not previously been linked to the disorder.

“In just a few short years, by analyzing tens of thousands of samples, our consortium has moved from identifying only a handful of loci associated with schizophrenia, to finding so many that we can see patterns among them,” said first author Stephan Ripke, a scientist at the Broad’s Stanley Center for Psychiatric Research and the Analytical and Translational Genetics Unit at MGH. “We can group them into identifiable pathways — which genes are known to work together to perform specific functions in the brain. This is helping us to understand the biology of schizophrenia.”

The study implicates genes expressed in brain tissue, particularly those related to neuronal and synaptic function. These include genes that are active in pathways controlling synaptic plasticity — a function essential to learning and memory — and pathways governing postsynaptic activity, such as voltage-gated calcium channels, which are involved in signaling between cells in the brain.

Additionally, the researchers found a smaller number of genes associated with schizophrenia that are active in the immune system, a discovery that offers some support for a previously hypothesized link between schizophrenia and immunological processes. The study also found an association between the disorder and the region of the genome that holds DRD2 — the gene that produces the dopamine receptor targeted by all approved medications for schizophrenia — suggesting that other loci uncovered in the study may point to additional therapeutic targets.

“The fact that we were able to detect genetic risk factors on this massive scale shows that schizophrenia can be tackled by the same approaches that have already transformed our understanding of other diseases,” said the paper’s senior author Michael O’Donovan, deputy director of the MRC Centre for Neuropsychiatric Genetics and Genomics at Cardiff University School of Medicine. ‘The wealth of new findings have the potential to kick-start the development of new treatments in schizophrenia, a process which has stalled for the last 60 years.”

The study is the result of several years of work by the Schizophrenia Working Group of the Psychiatric Genomics Consortium (PGC, http://pgc.unc.edu), an international, multi-institutional collaboration founded in 2007 to conduct broad-scale analyses of genetic data for psychiatric disease. One-third of the samples used in the study were genotyped at the Broad Institute, but a total of 55 datasets from more than 40 different contributors were needed to conduct the analysis.

“This level of cooperation between institutions is absolutely essential,” said Steve Hyman, director of the Broad’s Stanley Center for Psychiatric Research and Distinguished Service Professor of Stem Cell and Regenerative Biology at Harvard University. “Because of the genetic complexity of schizophrenia and other psychiatric disorders, we need a large sample size to conduct this type of research.  If we are to continue elucidating the biology of psychiatric disease through genomic research, we must continue to work together.”

The 80,000 samples used in this study represent all of the genotyped datasets for schizophrenia that the consortium has amassed to date. The PGC is currently genotyping new samples to further study schizophrenia and additional psychiatric diseases, including autism and bipolar disorder.   

Core funding for the Psychiatric Genomics Consortium comes from the U.S. National Institute of Mental Health (NIMH), along with numerous grants from governmental and charitable organizations, as well as philanthropic donations. Work conducted at the Stanley Center for Psychiatric Research was funded by the Stanley Medical Research Institute, Merck Research Laboratories, the Herman Foundation, and philanthropic donations.

Paper cited:

Schizophrenia Working Group of the Psychiatric Genomics Consortium. “Biological insights from 108 schizophrenia-associated genetic loci.” Nature. July 22, 2014. DOI: 10.1038/nature13595.

About GWAS
Genome-wide association studies (GWAS) examine the frequency of common variations within the human genome to determine which locations in the genome may be linked to a specific phenotype, or trait (usually, a disease). To study these variations, researchers scan strategically selected sites of the genome that are known to vary considerably across the population, taking note of single nucleotide polymorphisms (SNPs) — single-letter variations in the genetic code. SNPs found to be significantly more common in people with a trait than in those without are considered to be “associated” with that phenotype. Where the associated SNP resides in the genome can provide valuable clues about the genes and mechanisms that may be contributing to the phenotype being studied.

About the Broad Institute of MIT and Harvard
The Eli and Edythe L. Broad Institute of MIT and Harvard was launched in 2004 to empower this generation of creative scientists to transform medicine. The Broad Institute seeks to describe all the molecular components of life and their connections; discover the molecular basis of major human diseases; develop effective new approaches to diagnostics and therapeutics; and disseminate discoveries, tools, methods and data openly to the entire scientific community.

Founded by MIT, Harvard and its affiliated hospitals, and the visionary Los Angeles philanthropists Eli and Edythe L. Broad, the Broad Institute includes faculty, professional staff and students from throughout the MIT and Harvard biomedical research communities and beyond, with collaborations spanning over a hundred private and public institutions in more than 40 countries worldwide. For further information about the Broad Institute, go to http://www.broadinstitute.org.

Energy and Power

Mohawk Industries Highlights ‘Good Choices’ In Fifth Annual Sustainability Report

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CALHOUN, Ga., July 22, 2014 /PRNewswire/ — Sustainable practices are ultimately good choices. In its fifth annual sustainability report, Mohawk Industries, the world’s largest flooring manufacturer, highlights the good choices the Company makes each day for customers, employees, shareholders, communities and the environment.

“Mohawk’s success is attributable to the good choices made in the past and will be sustained by making good choices in the future,” said Dave Patton, Mohawk Industries’ chief sustainability officer. “As our business continues to grow and expand into new geographies, we remain committed to making responsible choices that create the greatest value for our stakeholders, our customers and the men and women who make up our Company.”

Mohawk’s sustainability report underscores the Company’s commitment to good choices while maintaining consistency, transparency and accuracy in reporting. The 2013 sustainability report includes Mohawk’s three recent acquisitions, which ensures a comprehensive report that truly covers the entire enterprise.

“Last year, Mohawk’s global footprint expanded significantly, and our three major recent acquisitions are reflected in our sustainability report,” said Jenny Cross, vice president of corporate sustainability at Mohawk Industries. “Companies usually require years to fold acquisitions into their sustainability reporting, but our 2013 report includes complete and accurate performance metrics from our entire enterprise.” 

Mohawk’s interactive report, available exclusively online at www.mohawksustainability.com, highlights the Company’s good choices in 2013 and reaffirms its commitment to global stakeholders.

Highlights from Mohawk’s 2013 Sustainability Report include:

  • Continuation of the Company’s legacy of sustainable product innovation with Continuum™ clean recycled polyester fiber processing and Easy Airtight™ energy efficient roofing insulation panels
  • Extension of “Zero Manufacturing Waste to Landfill” program with twelve new sites earning the designation
  • Expansion of ability to meet local market needs into new geographies for laminate and ceramic products
  • Employment of 28% more individuals than in 2012
  • OHSAS 18001 health and safety certification at two North American Ceramic facilities
  • Completion of EPDs for all ceramic products manufactured in North America
  • Partnership between commercial carpet business and the International Living Future Institute and addition of Declare™ labels to products within the commercial carpet portfolio
  • FloorScore® certification for all solid wood, engineered wood and laminate floors manufactured in the U.S.

During 2013, Mohawk continued to make positive progress toward all of its 2020 environmental goals, which are key components of the Company’s sustainability platform. Using 2010 levels as baselines, Mohawk has committed to 25% intensity reductions for energy, greenhouse gases (GHG), water and waste to landfill by 2020.

“We remain committed to using resources more efficiently, reducing our emissions and up-cycling our waste stream into first quality products,” said Cross. “These practices are consistent with the values of millions of people, and we encourage that community to enter into dialogue with us through our social media platforms. We welcome feedback and good ideas that can help us further improve our sustainability practices.”

Individuals can post comments on Mohawk’s LinkedIn platform or follow the company’s Twitter feed (@mhkgreenworks). The Company also has a dedicated e-mail account to respond to sustainability inquiries: mohawkgreenworks@mohawkind.com.

To access Mohawk’s fifth annual Sustainability Report, please visit: www.mohawksustainability.com.

Food and Beverage PUB

Frost & Sullivan: Focus on Product Differentiation and Innovation Will Sustain Alcohol Ingredients Market

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LONDON, July 21, 2014 /PRNewswire/ — The global alcohol ingredients market, which covers flavours, colours and other ingredients for beers, spirits and wines, is expected to see steady growth despite the dominance of a few companies. While flavours remain the biggest segment in the market, strong growth is projected in the “other ingredients” segment due to booming demand for yeast and enzymes.

Geographically, focus is expected to increase on developing regions such as Asia-Pacific, where consumer spending on alcohol is rising. Understanding the traditional and cultural tastes and preferences of consumers in these regions will be crucial to take full advantage of this trend.

New analysis from Frost & Sullivan, Analysis of the Global Alcohol Ingredients Market, finds that the market earned revenues of $989.2 million in 2013 and estimates this to reach $1.18 billion in 2019. While Western markets – Europe in particular – are the largest consumers, the strongest growth potential is presented by emerging markets such as Asia-Pacific, South Africa and Latin America. Spirits have the largest market share of alcohol beverage ingredients, mainly driven by the extensive use of flavours.

“As innovation is a key success factor in the alcohol beverage industry, new product development is likely to gain pace in the ingredients space,” said Frost & Sullivan Chemicals, Materials & Food Industry Analyst Tosin Jack. “Brand image and customer loyalty will also drive growth, with consumers embracing authenticity and sticking to products they know best.”

However, the decline in alcohol consumption in developed regions reduces the incentives for manufacturers to invest in production, thus, stifling innovation and restraining alcohol ingredients market growth. Campaigns launched to tackle alcoholism also hamper market expansion. Further, price volatility and limited availability of raw materials to manufacture alcohol ingredients are challenging market participants.

“Within this scenario, finding ways to add value to the alcohol ingredients on offer, and providing robust technical support, will be of utmost importance,” noted Ms Jack. “For companies with a global presence, consolidating with regional and smaller companies that have substantial knowledge of the local market will allow them to tailor alcoholic beverage production to suit varying regional and local tastes.”

For more information on this study, please email Julia Nikishkina, Corporate Communications, at julia.nikishkina@frost.com.

Analysis of the Global Alcohol Ingredients Market is part of the Food and Beverage Ingredients (http://www.food.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: North American Plant Health Improvement Agents (PHIA) Market, Global Food and Beverage Processing Support Market, and Global Dairy Ingredients Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

Economy

Laffer’s International Tobacco Taxation Handbook Gives Governments Roadmap to Optimize Tax Revenues

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LONDON, July 17, 2014 /PRNewswire/ — As excise taxes become increasingly important throughout the world, Dr. Arthur Laffer today released his international tobacco tax handbook, cautioning that “one size does not fit all” in tobacco tax policy and offering governments practical examples and case studies to consider in order to optimize tobacco excise tax revenues. 

“Tobacco taxes represent an essential source of tax revenue for most countries across the globe,” Laffer said during today’s release of his Handbook of Tobacco Taxation – Theory and Practice. “Governments levy excise taxes on tobacco to achieve fiscal and public health objectives. Because the goal of reducing smoking incidence cannot be understated, this handbook is for everyone interested in setting tobacco tax policy as it focuses on using tax as the solution to the tobacco consumption problem.” 

Laffer found that the unique aspects of tax structure and economic environments make taking a blanket approach to tax levels or tax systems unadvisable. Instead, governments should tailor their approach to tobacco taxation, taking into consideration a range of factors.

“It’s important to think twice about the mounting pressure on the international level to create an overarching tobacco tax structure and level for every country across the globe,” Laffer also said.  “One size does not fit all.  Tobacco regulation and taxation are complex matters that require consideration of a number of political, economic, and demographic factors prior to deciding on tax structures and levels.”

The Laffer Curve illustrates the relationship between tax rates and tax revenue. In most instances when tobacco rates are increased, government revenue increases. However, there are increasingly examples of countries, including the UK and Ireland, whose rates have entered the so-called “prohibitive range” of the Curve. 

“When setting tax levels, dramatic increases can be counterproductive,” Laffer said. “Once tax levels are in the prohibitive range of the Laffer Curve, tax revenues will fall.  If consumers shift to lower taxed or black market products, the tax increase may not even lead to less smoking.”

Laffer’s handbook advises governments to construct their tax systems based on four principles.  These include:

  1. CLEAR PRODUCT CATEGORIES – So that revenue is not lost in “loophole products,” setting precise tobacco product category definitions while amending and updating these categories.
  2. SOLID TAX STRUCTURES – The excise tax structure should support stable and predictable collections and ensure, as much as possible, that excise tax increases translate into government tax revenue increases.
  3. CORRECT TAX LEVELS – To prevent consumers from turning to lower priced products on the black market following tax increases, ensure the correct tax level is applied to each category.
  4. EFFICIENT COLLECTION SYSTEM – To minimize administrative burdens on tax payers and tax collectors, and ensure efficient payment of tobacco taxes by all manufactures and importers.
Health Care

New Reports From The Alzheimer’s Association International Conference® 2014 Show Progress In Early Detection, Identifying Risk Factors, And Treatment Trial Updates

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COPENHAGEN, Denmark, July 16, 2014 /PRNewswire/ — New studies reported at the Alzheimer’s Association International Conference 2014 (AAIC® 2014) in Copenhagen cover the spectrum of Alzheimer’s disease and dementia research. Data includes advances in early detection and diagnosis, identifying risk factors and possible risk reduction strategies, and the first-ever long-term clinical trial of a multifaceted lifestyle change in older adults.

Also released at AAIC 2014 was new information on the basic brain science of Alzheimer’s, trends in new cases of dementia and overall numbers of people with the disease, the multiple benefits of cataract surgery for people with Alzheimer’s and additional data about drugs involved in Alzheimer’s prevention trials.

AAIC is the premier annual forum for presentation and discussion of the latest Alzheimer’s and dementia research. Bringing the world closer to breakthroughs in dementia science, AAIC 2014 brought together approximately 4,000 leading experts and researchers from 75 countries around the world, and featured more than 1,700 scientific presentations.

Potential for smell and eye tests in early detection of Alzheimer’s
Two studies from AAIC 2014 provide increasing evidence that the inability to correctly identify odors may indicate the development of cognitive impairment and Alzheimer’s disease. Based on smell identification tests, cognitive tests and brain size, researchers in one study of 215 elderly individuals found that loss of brain cell function and worsened memory were associated with smell identification ability. A second study of 757 individuals representing multiple ethnicities found that odor identification deficits were linked with an increased risk of transition from mild cognitive impairment (MCI) — a slight but noticeable and measurable decline in memory and thinking skills — to Alzheimer’s disease. For each point lower a study participant subject scored on a smell identification test, their risk for Alzheimer’s increased by about 10 percent.

Two additional studies looked at possible eye tests to detect Alzheimer’s. Preliminary results from one study, based on findings from 40 of the study’s 200 participants, suggest that there is a significant association between the level of beta-amyloid protein, the main component of Alzheimer’s brain “plaques,” in the brain and levels detected in the retina. Study participants took a proprietary supplement containing curcumin, which binds to beta-amyloid and has fluorescent properties that allow amyloid plaques to be detected on the retina of the eye with an advanced imaging technology. In another study, researchers used a new laser scanning system to measure beta-amyloid levels in the lenses of the eyes of 20 study participants with Alzheimer’s disease and 20 without the disease. When the scientists, who were unaware of the Alzheimer’s status of their subjects, compared amyloid levels based on the eye lens test to amyloid plaque buildup estimates from brain positron emission tomography (PET) scans, they were able to accurately differentiate those with Alzheimer’s disease from those without it.

Largest study of brain tau PET imaging suggests scans’ ability for early detection of dementia
The presence of “tangles” of abnormal tau protein in the brain is one of the defining characteristics of Alzheimer’s. When this protein becomes abnormal, it forms tangles of twisted fibers inside brain cells, which kills them. In a study of 52 cognitively normal seniors — the largest study of its kind to date — researchers found that tau buildup in several brain regions was closely linked with memory decline. Using a newly developed PET scan technology to “see” tau in the brains of living people, scientists found that study participants with higher levels of tau buildup in areas of the brain important to memory performed worse on memory tests over three years. The Alzheimer’s Association says the findings demonstrate the potential value of tau PET scans in early detection of dementia and in identifying participants for Alzheimer’s and dementia research studies.

Lifestyle interventions may improve memory and thinking in middle-age and older adults
A two-year randomized controlled clinical trial in Finland is the first to demonstrate that a structured program of multiple changes in lifestyle factors can improve memory and thinking in older adults at risk for cognitive impairment and Alzheimer’s. The 1,260 older adults in the trial, whose ages ranged from 60 to 77, were divided into two groups. One group received an intervention that included nutritional guidance, physical exercise, cognitive training, social activities and management of heart health risk factors, while the control group received only regular health advice. After two years, the intervention group performed significantly better on a comprehensive scale of memory and thinking, and on specific tests of memory and executive function (including planning, judgment and problem-solving).

A separate study of 329 cognitively normal middle-aged adults in the U.S. with a genetic predisposition or parental family history of Alzheimer’s found that participation in mentally stimulating activities in middle-age may help protect against the development of Alzheimer’s disease and dementia later in life. The researchers found that participants who self-reported a higher level of activities such as reading books and going to the museum, especially those who reported playing games like puzzles and cards more often, had higher test scores for memory and thinking challenges, such as planning, judgment and problem-solving. They also had greater volume in several brain regions involved in Alzheimer’s disease.

Exercise in mid- and late-life associated with decreased risk of dementia
Two studies reported at AAIC 2014 present evidence that regular physical activity may reduce the risk of Alzheimer’s and other dementias. In one study, 280 adults in the U.S. with a median age of 81 completed a questionnaire on the frequency and intensity of exercise during their lifetime. After observing the participants for about three years, the researchers found that a history of moderate physical exercise in middle age was associated with a significantly decreased risk of mild cognitive impairment (MCI). In a second study, researchers examined the frequency and intensity of exercise of 1,830 adults with normal cognition. The researchers found that light physical exercise in mid-life and late-life was associated with a decreased risk of MCI, as was vigorous physical exercise in mid-life and moderate physical exercise in late-life. The Alzheimer’s Association urges everyone to keep their brain healthy throughout their life. Tips and the latest research are at alz.org.

Late-onset high blood pressure could protect against dementia
While hypertension during midlife may increase risk for Alzheimer’s and other dementias, there is emerging evidence that its association with dementia risk may change over time, and may instead help protect against dementia in people age 90 and over. Researchers followed 625 older adults in the U.S. without dementia for up to 10 years and found that those with the onset of high blood pressure at age 80 to 89 had a significantly lower risk of developing dementia compared with participants with no history of high blood pressure. Those with the onset of hypertension at age 90 or older had even lower dementia risk.

Cataract surgery improves not only vision but cognition and quality of life
A small clinical trial in the U.S. found that cataract surgery for people with Alzheimer’s and other dementias not only improves vision but can slow decline in cognition and improve quality of life for both people with the disease and their caregivers. Preliminary analysis of results found that 20 participants who had surgery to remove cataract had significantly improved vision and quality of life compared to the eight participants who did not receive surgery. In addition, those who received the surgery experienced a reduced decline in memory and mental tasks such as planning, judgment, and problem-solving, as well as improvements in behavioral measures. Levels of perceived burden for caregivers of people in the surgical group showed improvement. The Alzheimer’s Association recommends that preferences about medical treatment and decisions should be addressed early in the disease process through the execution of advance directives.

Psychological intervention for caregivers may reduce anxiety and depression
A randomized controlled trial in the U.K. found that a psychological support program for family caregivers of people with dementia significantly reduced caregivers’ anxiety and depression, and the impact lasted for two years. In the trial, 260 family caregivers were divided into two groups. One group received standard care and the other received an intervention consisting of eight sessions that included education about dementia, caregiver stress and where to get emotional support, and techniques for dealing with caregiving challenges. Caregivers who received the eight-session intervention showed significantly better results on measures of depression, anxiety and cost of care. Researchers noted this may help caregivers stay in their role longer and provide more consistent care, which may delay placement of the person with dementia into a nursing home. The Alzheimer’s Association believes it is very important for caregivers to take care of themselves, and to reach out for help. Learn more at www.alz.org.

Diabetes drug associated with reduced risk of dementia
A study of a large German database of people age 60 or older who were free of Alzheimer’s and others dementias found that long-term use of the diabetes drug pioglitazone may reduce incidence of dementia. Researchers at AAIC 2014 presented the study, which examined more 145,712 subjects over six years. Results suggest that reduced risk of dementia was significantly associated with use of pioglitazone. Researchers noted one possible theory is the drug’s ability to suppress neuroinflammation.

Additional abnormal protein, TDP-43, found in brains of people with Alzheimer’s
Researchers identified that an abnormal protein, known as TDP-43, may play an important role in Alzheimer’s disease along with two previously identified proteins. Researchers examined the brains of 342 people identified after death as having Alzheimer’s-related changes for the presence, amount and distribution of TDP-43. More than half the brains had TDP-43. In addition, people with TDP-43 were ten times more likely to have been cognitively impaired at death than subjects without it. The scientists speculate that TDP-43 may help explain why some people have Alzheimer’s changes in their brain, but do not experience dementia. It is vitally important to fund basic research to learn more about Alzheimer’s disease, and to feed the front end of the therapy pipeline. The Alzheimer’s Association is the world’s leading nonprofit funder of Alzheimer’s disease research.

About AAIC
The Alzheimer’s Association International Conference (AAIC) is the world’s largest gathering of leading researchers from around the world focused on Alzheimer’s and other dementias. As a part of the Alzheimer’s Association’s research program, AAIC serves as a catalyst for generating new knowledge about dementia and fostering a vital, collegial research community. Scientists leading the advancement of research gather to report and discuss the most current data on the cause, diagnosis, treatment and prevention of Alzheimer’s disease and related disorders.

About the Alzheimer’s Association
The Alzheimer’s Association is the world’s leading voluntary health organization in Alzheimer care, support and research. Our mission is to eliminate Alzheimer’s disease through the advancement of research; to provide and enhance care and support for all affected; and to reduce the risk of dementia through the promotion of brain health. Our vision is a world without Alzheimer’s. Visit www.alz.org or call 800.272.3900.

ATTN: Please refer to www.alz.org/aaic/press.asp or call (312) 335-4078 for individual stories included here that were presented before Wednesday, July 16, and have come off embargo.