UAE, South Korea Sign MoU to Protect Intellectual Property

BY CHUN GO-EUN (INFO@KOREAITTIMES.COM): According to the Arab Financial Investment, The Ministry of Economy has recently signed a strategic new Memorandum of Understanding (MoU) with the Korean Intellectual Property Office (KIPO) to further promote and protect intellectual property in the UAE. The MoU was signed by H.E. Engineer Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary for Economic Affairs and Choi Donggyou, Commissioner, KIPO on the sidelines of the 56th series of Meetings of the World Intellectual Property Organization(WIPO), which opened last October 3 and will run until October 11, 2016at the WIPO headquarters in Geneva, Switzerland. H.E. Al Shehhi, who is heading the participating UAE delegation, shared that the MoU follows in the direction of previously signed agreements between the UAE and KIPO--all focused on the development of a system that can promote and protect intellectual property rights in the country. The move is expected to encourage more creativity and innovation among inventors and creators while also providing an attractive economic and investment environment in compliance with the set objectives and goals of UAEVision 2021. Under the terms of the recently signed agreement, both countries will be working closely to help establish and operate theInternational Centre of Patent Registration (ICPR) at the UAE Ministry of Economy, a new international center that will oversee the registration of patents in the UAE. The new facility will house an international body of patent experts that will review and evaluate patents based on a special intellectual property system. In addition, the center is set to be designated as an International Searching Authority and International Preliminary Examining Authority under the Patent Cooperation Treaty of the WIPO (PCT ISA/IPEA). In line with this, both UAE and South Koreawill be tasked with exchanging consultative duties with the WIPO in the course of searching and examining newer patents for registration. Lastly, the center will establish training programs for professionals in the field of intellectual property to further develop their skills and abilities. The center is also expected to develop key research and studies covering issues and topics concerning intellectual property. Source: http://www.koreaittimes.com/

Read More........ → October 16, 2016

Canada’s Bank of Nova Scotia Under-fire for Manipulating Gold Prices

$BKSHF, $DB, $HBSC, $UBS, $GLD, $SLV

By Paul Ebeling : Canada’s Bank of Nova Scotia(OTCMKT:BKSHF) 1 of the 5 big banks said to have manipulated the Gold market, which is worth trillions of dollars in trading value per year, will have to turn over internal e-Mails and other correspondence spanning several years.

Daniel Brockett, the New York lawyer who is spearheading the US lawsuit, said that the banks will also have to produce all relevant chat room instant messages and any other written communication they exchanged, whatever the media.

The move comes as a US judge said last week that gold investors could go ahead with their lawsuit accusing four major banks of conspiring for a decade to fix prices and exploit distortions at the expense of investors in global markets for the precious Yellow metal.

Involved banks will also have to produce all relevant chat room instant messages and any other written communication they exchanged, whatever the media.

US District Court for the Southern District of New York Valerie Caproni reduced the class period to 6 years ending in Y 2012, and dismissed a claim of unjust enrichment.

Investors allege the banks conspired from Ys 2004 to 2013 to fix prices for Gold. They did not estimate the size of the banks’ bullion portfolios, but said the Gold derivatives market alone was as large as $650-B during the class period.

Deutsche Bank AG (NYSE:DB) settled related claims in April, and the investors are said to seek preliminary approval of such settlement.

The Bank of Nova Scotia, known as Scotiabank, is also facing another lawsuit in the Manhattan court in which investors have accused it of conspiring with Deutsche Bank, HSBC (NYSE:HBSC) and UBS (NYSE:UBS) to rig Silver prices through a daily meeting known as the Silver Fix.

UBS did not set the benchmarks, but was accused of conspiring to exploit the Silver Fix. The bank has previously disclosed that it launched an internal probe of its precious metals business in addition to its Forex investigation.

In Y 2014 and after 117 years of being set between banks, the daily price setting process for global Silver prices moved to an electronic platform run by GME Group and Thomson Reuters in London.

Stay tuned…Source: http://www.livetradingnews.com

Read More........ → October 16, 2016