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2015 was another year of transition for Myanmar. A general election saw the National League for Democracy win over half of the contested seats, with the military-backed Union Solidarity and Development Party transferring over power peacefully. While Aung San Suu Kyi remains barred from the presidency, a close ally, Htin Kyaw, was elected president with Suu Kyi taking several key roles.
The Yangon Stock Exchange has launched and legislation has enacted the New York Convention, however problems remain regarding the country’s legal infrastructure, particularly difficulty in taking assets as security for loans. In another recent development, at the time of going to press, the US indicated that it was minded to end all economic sanctions, including an end to the SDN list and allowing imports of gems such as jade and rubies.
For historical reasons, Myanmar has a limited pool of local lawyers; recruitment of quality local counsel remains a key challenge.
A number of international law firms have entered the market over the past several years, including Baker & McKenzie Yangon and Berwin Leighton Paisner LLP (which opened its Yangon office in 2016), in addition to pan-Asean firms such as Rajah & Tann NK Legal Myanmar Company Limited. A number of other law firms advise on Myanmar-related projects from desks outside the country, and Myanmar offices regularly call on resources elsewhere in Asia.
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Law No. 15 of 2016 on Civil Human Resources was issued by HH the Emir Sheikh Tamim bin Hamad Al-Thani, recently.
[SOUTH KOREA] Questions on Product Safety Continue, Bringing About Strengthened Regulatory OversightIn the midst of growing public concern over the health hazards of certain household chemical products,¹ concerns are now being raised about the safety of chemicals in other types of products, such as "quasi-drugs" (e.g., toothpastes) and cosmetics.
16 February 2017: Credit Suisse successfully launched its new subsidiary Credit Suisse (Switzerland)Credit Suisse (Switzerland) Ltd. was incorporated with the purpose to be organized as a Swiss bank. It is a wholly owned subsidiary of Credit Suisse AG. The transfer of assets and liabilities according to Swiss merger law became effective on 20 November 2016. The transfer was aimed to evolve the legal entity structure of the Credit Suisse Group to meet regulatory requirements for systematically important banks.
BASF acquires Rolic, a Swiss based group offering innovative and forward-thinking solutions, particularly in the display and security industries as well as the optical film business.
With the Legislative Decree 136/2016 which implements the “Enforcement” Directive (2014/67/UE) Italy strengthens the rights and protections afforded to workers posted between Member States and elsewhere relating to their terms of employment, remuneration and working conditions.
The World Bank Group has released Enabling the Business of Agriculture 2017. The report presents data on legal barriers for farmers, entrepreneurs and businesses operating in agriculture in 62 countries and across the topics of land, seed, fertilizer, machinery, water, livestock, finance, markets, transport, and information and communication technology (ICT). SyCipLaw's Rose Marie M. King-Dominguez , Alan C. Fontanosa , Franco Aristotle G. Larcina and Ruben P. Acebedo II contributed to the report.
gategroup successfully raised CHF 300 million through the issuance of a fixed rate 5-year senior bond with a final maturity on February 28, 2022. The bond with a coupon of 3% p.a. has been issued by gategroup Finance (Luxembourg) S.A. and is guaranteed by its parent company gategroup Holding AG. gategroup will apply for the listing of the new bond on the SIX Swiss Exchange.
“Endo” is the twin brother of the drug monster that also needs to be slain, so says the Duterte administration. “Endo” is layman’s term for end of employment contract. It is the date indicated on the employment contracts and is dreaded by employees as it means the end of his or her employment. Read more...
Antitrust laws, also referred to as “competition laws”, are statutes developed to protect consumers from predatory business practices by ensuring that fair competition exists in an open-market economy. Competition laws regulate and prohibit several questionable business activities such as market allocation/ de facto monopoly whereby companies agree to steer clear of each other’s identified geographical market or territories; bid rigging whereby conspiring entities manipulate the market with a view of retaining current market share and price for each entity; and price fixing whereby two or three entities agree on the same selling price. Competition laws are designed to maximize consumer welfare by regulating or preventing business activities which stifle competition. Read more...
The latest legislative developments in the tobacco sector in Thailand are worrying the tobacco industry but also the food and beverage sectors as similar regulations may follow.
used mileage points interpreted as sales allowance deductible from tax base- Lee & Ko
Head of VEGAS LEX PPP and Infrastructure practice Denis Shtirbu moderated the session on transport cooperation and logistics at The Moscow Times conference, Doing Business with China. New Horizons for Business Cooperation: Russia – China .
GRP Rainer Rechtsanwälte has once again received awards, this time for the year 2017, from Corporate INTL for best law firm in the fields of commercial law and tax law in Germany.
The members of a sisterhood may also fall within the ambit of the regulations pertaining to what is termed labour leasing or temporary employment. That was the verdict of the Court of Justice of the European Union (CJEU) in its ruling of November 17, 2016 (Az.: C-216/15).
Barcelona – Gonzalo Butori and Graziano Cecchetti, Partners at the newly opened Giambrone Barcelona office, attended the 4 th edition of the International Trade Fair of the Legal Profession held by the Barcelona Bar Association (ICAB) on February 16 th and 17 th .
America’s Federal Bureau of Investigation (FBI) announced its intention of pursuing organisations involved in binary options fraud across the globe. The FBI’s Complex Financial Crimes Unit will seek to draw on the relationships that it has forged with law enforcement agencies worldwide to pursue and bring down the fraudulent organisations that prey on innocent victims and leave a trail of destruction in their wake.
VEGAS LEX experts have discussed procedural specifics of supporting cartel damage disputes at a Pravo.ru conference on judicial practice in 2016 and important 2017 trends.
NautaDutilh assisted Raizen Fuels Finance S.A., as issuer on its USD 500 million 5.3% senior notes offering which successfully closed on 20th January. The issuer is part of the Brazilian Raizen group, the world largest individual producer of sugar cane. The Raizen group also operates a network of more than 5,800 Shell-branded stations in Brazil.
Goltsblat BLP , the Russian practice of international law firm Berwin Leighton Paisner (BLP), has advised ICBC International Leasing , the leasing subsidiary of the world’s biggest financial group, on delivery of six Airbus A321-211 aircraft to Aeroflot.
Seriously offending one’s work colleagues constitutes good cause justifying exceptional notice of dismissal with immediate effect. That was the verdict of the Landesarbeitsgericht (LAG) Rheinland-Pfalz [Regional Labour Court of Rhineland-Palatinate] (Az.: 4 Sa 350/15).