Special Economic Zones (“SEZs”) are geographically designated areas within a country that are set aside for specifically targeted economic activities, supported through special arrangements (that may include laws) and systems to promote industrial development. An SEZ is meant to be an economic development tool to promote rapid economic growth by using various support measures to attract targeted foreign and domestic investments and technology ...
The European Court of Justice ruled last October that the data sharing framework between the EU and US, referred to as Safe Harbor, is no longer valid. On 2 February 2016, the EU and US authorities agreed in principle on a 'new' arrangement, known as the 'EU-US Privacy Shield', which is intended to replace 'Safe Harbor' ...
ANGOLA: Budget Law 2016 adopted by National Assembly The Angolan National Assembly adopted the final version of Budget Law 2016 on 11 December 2015, following its approval of the Program of Economic Diversification on 7 December 2015. The Program includes the introduction of the Special Contribution on Banking Transactions (“SCBT”) and the Special Contribution levied on transfers for the payment of technical assistance or management fees. The SCBT is to be levied at a rate of 0 ...
The TSX Venture Exchange reaches out to the VC communityThe TSX Venture Exchange (the “TSX-V”) has released a white paper which describes how it intends to become an attractive public market for early-stage companies from fast-growing sectors such as technology, clean technology, renewable energy and life sciences (the “high-growth sectors”) and how it intends to ensure that private equity firms, venture capital (“VC”) funds and angel investors consider the TSX-V as an effective stra
In a continued effort to implementthe policy change announced by President Obama on December 17, 2014 to engage and empower the Cubanpeople, the Office of Foreign Assets Control (“OFAC”) and the Bureau of Industryand Security (“BIS”) have announced additional amendments to the Cuban AssetsControl Regulations (“CACR”) and the Export Administration Regulations (“EAR”),respectively, which will be published and effective in the upcoming days ...
On December 18th was enacted the Organic Law of Incentives for Public Private Partnerships and Foreign Investment. This law is intended to promote synergies between the private and the public sector. It is based in the principles of fiscal sustainability, Risk allocation, Value for money, respect to interests and rights of the users, property rights and social inclusion ...
One year ago, on December 17, 2014, President Obama announced a policy to increase contact and engagement with the people of Cuba with an ultimate goal of normalizing relations between the US and Cuba. The announcement generated immense press coverage of and commercial interest in Cuba. Since then, the US has removed Cuba from the list of State Sponsors of Terrorism and the two countries have reopened their respective embassies, thereby formally re-establishing diplomatic relations ...
The Trans-Pacific Partnership Agreement is a free trade agreement between Australia, Brunei, Chile, Canada, the United States, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. After 7 years of negotiations, which began in February 2008, an agreement was reached on October 5, 2015, and the text was published in English on November 5, 2015 ...
The Philippine section of The International Comparative Legal Guide to: Copyright 2016 was contributed by SyCipLaw partners Enrique T. Manuel and Vida M. Panganiban-Alindogan. Mr. Manuel heads the firm’s Intellectual Property department. The chapter includes information on copyright subsistence, ownership, exploitation, owners’ rights, copyright enforcement, criminal offenses, and current developments. 1 ...
The Obama Administration recently released the signed text of the Trans-Pacific Partnership (“TPP”), which represents an important advancement in trading relations among 12 Pacific countries: Australia Brunei Darussalam Canada Chile Japan Malaysia Mexico New Zealand Peru
We are pleased to announce that ENSafrica has joined forces with prominent Ghanaian law firm Oxford & Beaumont Solicitors to form ENSafrica Ghana, reinforcing its position as Africa’s largest law firm. The firm believes that the addition of ENSafrica Ghana will bolster its already strong offering on the continent ...
The amendments to the Cuban Assets Control Regulations (CACR) since January 16, 2015 have expanded the scope of transactions that persons subject to the jurisdiction of the United States may undertake in relation to Cuba ...
Italy and Turkey have had a strong and well-established economic partnership for decades, with a turnover of about USD 20 billion in 2014 and investment by Italian companies in Turkey in 2014 of around USD 4.5 billion ...
After a marathon weekend negotiating session in Atlanta, trade ministers from the United States and eleven other countries reached a final agreement on the terms and text of the Trans-Pacific Partnership (TPP). The TPP is a multi-faceted trade agreement among Pacific Rim nations that account for approximately 40 percent of world GDP ...
Hunton & Williams is pleased to announce the release of its newly designed and mobile-responsive Immigration and Nationality Law Blog, www.huntonimmigrationlawblog.com. “Our immigration law blog has been a valuable resource for US employers,” said Ian Band, who heads the firm’s immigration and nationality practice ...
The U.S. Treasury Department Office of Foreign Assets Control (“OFAC”) has amended its Cuban Assets Control Regulations to, in OFAC’s words, “further implement elements of the policy announced by the President on December 17, 2014 to engage and empower the Cuban people.” In practice, the amendments make important changes to the Cuban Assets Control Regulations, originally liberalized in January of this year ...
Bulgaria is the second largest producer of foie grasin the world (after France) with about 10% of the global production (approximately 2,600 tons per year). Furthermore, France is the largest consumer of foie gras globally, importing about 3,750 tons per year, 2/3 of which come from Bulgaria. Agroplasment-92-VJSC and Bulian SJSC are the leading Bulgarian producers of foie gras and other duck products. The two companies account for approximately 1/3 of all Bulgarian foie gras exports ...
Bulgaria is the second largest producer of raw tobacco in Europe after Italy and has been a leading exporter of cigarettes and tobacco products from the 1920s onward. Slance Stara Zagora Tabac is a leading Bulgarian producer of cigarettes and tobacco products with rich experience in the selection and skillful blending of classic American and Virginia blends ...
The Seventh Circuit has revived a class action against Neiman Marcus for losses customers allegedly suffered as a result of a data breach involving payment card information. A federal district court had dismissed the claims, finding – consistent with federal courts around the country – that the plaintiffs lacked standing because they failed to allege they suffered concrete harm from the breach ...
The Competition Commission of India (“CCI”) has revised the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (Combination Regulations), making them more forward looking, in keeping with some of the best practices in other jurisdictions. The instant revision is the fourth instance in the four years since the introduction of the merger control regime in India ...
It’s been widely reported that various luxury brand owners have brought legal proceedings in the USA against Alibaba, the Chinese online shopping giant that recently listed on the New York Stock Exchange. The claim is that Alibaba has knowingly made it possible for companies to sell counterfeit products on its platform ...
The Swedish Association of Landowners has called for a modernisation of the rules concerning agricultural land leasing. As a result, the work to renew the legislation, which is over forty years old, is now underway. Above all, two issues have come into focus: the lateral leaseholder’s security of tenure and the possibility of a “results-based rent” ...
Is your business affected by counterfeiting? If so, you are not alone. A newly released study shows that almost all intellectual property dependent companies listed on the NASDAQ OMX Stockholm 30 Index have been affected. Moreover, most expect that the problem will continue to grow. Better political support is required to stem this development, but companies already have several weapons available to use against the counterfeiters ...
On June 29, President Obama signed the Trade Preferences and Extension Act of 2015, which significantly increases penalties for the failure to file correct information returns under I.R.C. § 6721 and the failure to furnish statements to payees pursuant to I.R.C. § 6722. The new law increases the penalty from $100 to $250 for each violation of either statute ...
