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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 ...

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 ...

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 ...

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. ...

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 ...

Bloomberg Indian mobile content provider Glance InMobi Pte agreed to acquire e-commerce startup Shop101 to expand into influencer-led shopping in the South Asian country. Glance, which became a unicorn in December after backing from Alphabet Inc’s Google and Peter Thiel’s Mithril Capital, pushes curated news and entertainment content onto phone lock screens and also runs a short video app. It ...

Bloomberg Delays from congestion at southern Chinese ports triggered by fresh Covid-19 outbreaks are rippling through global supply chains, threatening to inflate costs and exacerbate disruptions. A cargo vessel operated by Cosco Shipping Lines Co will skip a scheduled port stop in Singapore this month because of delays in China, according to alliance partner Ocean Network Express Holdings Ltd. One ...

Bloomberg Just eight months after celebrating a narrow escape from financial disaster, Chinese billionaire Hui Ka Yan finds himself back in crisis-fighting mode. Resurgent concerns about the health of China Evergrande Group, Hui’s flagship property company, have pushed its stock to within a hair’s breadth of the lowest level since March 2020. Bondholders are rushing for the exit too, spooked ...

Bloomberg It was supposed to be another sign of Joe Biden bringing together US allies left adrift under four years of Donald Trump: The leaders of Japan and South Korea sitting down for a meeting at the Group of Seven summit. Yet Japanese Prime Minister Yoshihide Suga and South Korean President Moon Jae-in failed to hold the first substantive direct ...

Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa), has announced that the authority will add 600 megawatts (MW) of clean energy capacity using photovoltaic solar panels and Concentrated Solar Power (CSP) during 2021. The move will increase Dewa’s total power capacity from clean energy to 1,613 MW compared to 1,013 MW ...