Local markets record liquidity of Dhs24.3b

The local stock markets witnessed trading activity with a liquidity of nearly Dhs24.3 billion, primarily focused on real estate, financial, and banking sectors.

The liquidity was distributed with approximately Dhs17.2 billion in the Abu Dhabi Securities Exchange (ADX) and Dhs7.15 billion in the Dubai Financial Market (DFM), involving the execution of over 455,200 transactions.

By the end of April, the market capitalisation of listed stocks reached Dhs3.48 trillion, with approximately Dhs2.77 trillion in the ADX and Dhs710.4 billion in the DFM.

In the Abu Dhabi market, International Holding Company (IHC) led the trading activity with a liquidity of around Dhs3.4 billion, followed by Alpha Dhabi Holding with a liquidity of Dhs1.45 billion, and then Multiply Group attracting Dhs1.17 billion.

In the Dubai market, Emaar Properties dominated the activity with a liquidity of approximately Dhs1.89 billion, followed by Emirates NBD with a liquidity of Dhs668.1 million, and then Gulf Navigation Holding PJSC attracting over Dhs557 million.

Ministry of Economy: The Ministry of Economy (MoEc) hosted an array of events in connection with the World Intellectual Property (IP) Day, celebrated this year under the theme “IP and SGDs: Building Our Common Future with Innovation and Creativity”.

The initiative emphasised why IP protection is key to the achievement of Sustainable Development Goals (SDGs) and is a priority for the UAE in all sectors, particularly the economic one. It highlighted the proactive approach adopted by the UAE in establishing a legislative and regulatory framework that promotes IP rights and supports creators of ideas and entrepreneurial ventures in line with global best practices.

Abdullah Al Saleh, Under-Secretary of the Ministry of Economy, said, “Under the directives of its wise leadership, the UAE has achieved remarkable success in establishing a leading legal framework for IP. This framework adheres to the highest global standards and aims to enhance the importance of knowledge and creativity in driving economic growth. The country has enacted three laws on the regulation and protection of industrial property rights, trademarks, copyrights, and neighbouring rights. Furthermore, it has launched an integrated system consisting of 11 initiatives that include all intellectual property applications. These initiatives align with the nation’s vision to transition to an innovative and knowledge-based economy model, while also fostering research and development.”

The Undersecretary explained that these initiatives have played a significant role in fostering a national environment conducive to promoting intellectual property, innovation and patents. MoEc received a total of 3,415 patent registration applications in the past year alone, marking a notable increase of 19.5 per cent compared to that of 2022. This surge in applications has resulted in a total of over 5,000 patents being registered in the country.

Al Saleh added, “MoEc actively participates in celebrating the World Intellectual Property Day considering it as a valuable opportunity to raise awareness on the crucial role played by intellectual property in supporting and sustaining the national economy. It also underscores the UAE and MoEc’s commitment to providing enablers and opportunities for talents and owners of innovative ideas, facilitating the transformation of these ideas into profitable business ventures. This, in turn, will play a vital role in supporting the private sector and promoting sustainable practices in economic activities. It also recognises the importance of innovation and intellectual property in driving this trend forward, in line with this year’s IP Day theme. Moreover, these efforts contribute to achieving the goals set by the ‘We the UAE 2031’ vision, to establish the country as a leading global hub for the new economy, driven by innovation, creativity, and entrepreneurship.”

As part of the World IP Day 2024, MoEc hosted a series of introductory seminars, workshops, and competitions from 22nd to 30th April. These events were all curated to increase awareness on national laws and regulations pertaining to intellectual works and the procedure to safeguard creative works, thus strengthening the role of patents in supporting science and technology fields. Additionally, these endeavours contributed to encouraging the transition towards sustainability in the realm of intellectual works.

World IP Day is an annual global event celebrated on April 26, bringing together countries, organisations, and institutions that are involved in intellectual property matters. This event was initiated by the World Intellectual Property Organisation (WIPO), coinciding with the organisation’s establishment in 1970, with the aim of increasing awareness on the significance of intellectual property rights. It also serves as an occasion to promote awareness on various aspects of intellectual property including trademarks, patents, industrial designs, copyright, and creative industries.

WAM