June, 2021

• 14 June

  Ministry of Economy reports 70% growth in intellectual works in 2020

  

  Abu Dhabi / WAM The Ministry of Economy (MoE) has announced that the country’s Intellectual Property (IP) sector has achieved significant growth in the number of works during the past year 2020, as it witnessed a growth of 70% compared to that of 2019. This is the latest in a series of achievements accomplished by the UAE and consolidates its ...

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• 14 June

  Dubai Islamic Bank donates AED6.5m Zakat money to ERC programs

  

  Abu Dhabi / WAM The Dubai Islamic Bank (DIB) donated Zakat money worth AED6.5 million to support the programmes and projects of the Emirates Red Crescent (ERC). Both sides signed a cooperation agreement to coordinate the distribution of the donation to those eligible to receive Zakat. The bank’s administration welcomed the move and the signing of the agreement with the ...

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• 14 June

  Irena, Morocco ink strategic partnership

  Abu Dhabi / WAM The International Renewable Energy Agency (Irena) and the Ministry of Energy, Mines and Environment (MEME) of the Kingdom of Morocco on Monday agreed to strengthen joint collaboration to advance knowledge in renewable energy and to accelerate the energy transition. Specifically, Irena and Morocco will work closely to advance the national green hydrogen economy as the country ...

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• 14 June

  UAE seizes 923,724 counterfeit goods

  

  Abu Dhabi / WAM In 2020, nearly 923,724 counterfeit goods were seized by the UAE Customs sector, according to the report on Intellectual Property Rights (IPRs) for 2020 issued by the Federal Customs Authority (FCA). Additionally, IPR seizures by local Customs departments amounted to 41 the same year. Ali Saeed Matar Al Neyadi, Commissioner of Customs, and Chairman of the ...

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• 14 June

  Air Arabia Abu Dhabi set to start new service to Trabzon

  

  ABU DHABI / WAM Air Arabia Abu Dhabi, the capital’s first low-cost carrier, announced the introduction of a new service to Trabzon in Turkey with direct flights from Abu Dhabi starting on July 13. The new service represents the 14th route for Air Arabia Abu Dhabi since the launch of the carrier’s service from Abu Dhabi International Airport last year. ...

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• 14 June

  Can Biden break impasse in Northern Ireland?

  

  On the level of optics, British Prime Minister Boris Johnson can count his first meeting with US President Joe Biden a success. There were impressive photo ops, an exchange of gifts and a new Atlantic Charter to update the one Churchill and Roosevelt signed 80 years ago. But if Biden’s goal at the Group of Seven meeting in England was ...

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• 14 June

  Is there no escaping the dollar?

  

  The most effective weapon in America’s tussle with strategic and economic competitors may be 100 US cents. Countries like Russia and China chafe at the dollar’s dominance, but there’s little they can do other than posture and make relatively benign adjustments to their monetary arrangements. Russian President Vladimir Putin acknowledged as much, telling journalists that “we don’t want to do ...

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• 14 June

  Can crypto support asset management industry?

  The outlook for the global asset management industry, plagued in recent years by unmerciful downward pressure on fees, is starting to look brighter. With memestocks, decentralised finance and non-fungible tokens capturing the headlines, money managers need to keep up with the zeitgeist. A new report suggests that the cryptocurrency markets offer a great opportunity for fund managers and wealth management ...

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• 14 June

  European regulators should let banks bank

  There’s a conflict brewing in Europe between regulators, banks and some politicians over how new Basel III-compliant rules will be framed. Several banks, as well as policymakers in countries including France and Germany, say the capital requirements called for under the new regulations are too high. The Basel Committee on Banking Supervision thinks that these last-ditch efforts to weaken Basel ...

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• 14 June

  Chinese ride-hailing firm Didi reveals $1.6b loss in IPO filing

  

  Bloomberg Chinese ride-hailing company Didi revealed a $1.6 billion net loss for 2020 as it moves ahead with plans for a US initial public offering. The company in its first public filing for the IPO listed the offering as $100 million, a placeholder that will change when the company discloses terms for the share sale. Didi filed under the business ...

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