Brand agents have been working with Dubai Customs officials to pass on the latest techniques to spot fake goods.
Brand agents have been working with Dubai Customs officials to pass on the latest techniques to spot fake goods.
Brand agents have been working with Dubai Customs officials to pass on the latest techniques to spot fake goods.
Brand agents have been working with Dubai Customs officials to pass on the latest techniques to spot fake goods.

Brand agents help customs officials fight back against fake goods


Nick Webster
  • English
  • Arabic

Top brands like Lacoste and Fossil have been working alongside Dubai Customs officials to step up their war against fake goods on sale in markets across the emirate.

Workshops hosted by the Intellectual Property Rights Department of Dubai Customs have been attended by 24 enforcement officers committed to eradicating fake goods form the city

It is the third similar project this year to help share intelligence and pass on information of best practice when spotting fake goods.

Agents from five leading brands, including Lacoste fashion, Fossil watches, Philip Morris cigarettes, Borg Warner automotive technologies and Hindustan Pencils.

“Dubai Customs is keen to join efforts with our partners and trademark owners in the business sector by organizing this kind of educational workshops,” said Yousef Ozair, director of IPR Department.

“It is important to update concerned staff and professionals and provide them expert knowledge on the newest, ever-changing techniques counterfeiters and pirates often resort to and ways for clamping down on the illicit trade.”

IPR presented a working paper by Mahbooba Baqer, head of Awareness and Education Section, who highlighted the concept of intellectual property and the procedures put in place by Dubai Customs to handle cases of trademark infringements.

Participants also learned about the techniques used by specialists to identify fake products from good ones.

Law firms’ representatives presented common methods employed by intellectual property infringers to produce fake copies of genuine brands, and answered the audience’s questions on latest global trends in counterfeiting.

In 2016, millions of fake mobile phones, cigarettes, cosmetics and other items valued at Dh1.6 billion were seized in raids by consumer protection officers.

The Department of Economic Development said mobiles topped the list of confiscated goods and 14.6 million handsets – worth about Dh429 million – were seized.

Accessories came second, with 11.4 million pieces worth more than Dh130m, followed by 6.2 million pieces of cosmetics with a value estimated at Dh105m.

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Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

'Gehraiyaan'
Director:Shakun Batra

Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa

Rating: 4/5

Sui Dhaaga: Made in India

Director: Sharat Katariya

Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav

3.5/5

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Favourite place to travel to - Peloponnese, Southern Greece

Favourite movie - The Last Emperor

Favourite personality from history - Alexander the Great

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