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Vietnam: Proposed Changes in Investment Law

(May 11, 2009) It was reported on May 1, 2009, that Vietnam is finalizing the draft of a new law that would amend several of the country's laws on investment, construction, the environment, and taxation, among others. The purported purpose of the government in revising the laws is not only to improve Vietnam's investment climate, […]

Australia: Covered Short Selling Ban to Continue

(Mar. 13, 2009) On March 5, 2009, the Australian Securities and Investments Commission (ASIC) extended through May 2009 a ban on covered short selling of financial securities. The ASIC had announced on January 21, 2009, that the ban would be effective only until March 6. The main features of the ban are: covered short selling […]

China: Economic Stimulus Plan Unveiled

(Dec. 24, 2008) On November 9, 2008, the State Council of China announced a plan to increase domestic demand and stimulate economic growth, by investing an estimated four trillion renminbi (about US$585 billion) in ten areas by the end of 2010, as a response to the global financial crises. This plan, however, is not comparable […]

Vietnam: Decree on Sale and Transfer of State-Owned Enterprises

(Nov. 10, 2008) On October 10, 2008, the Government of the Socialist Republic of Vietnam (SRV) issued new regulations on the sale and transfer of wholly state-owned enterprises (SOEs). (Decree 109/2008/ND-CP, replacing Decree 80/2005/ND-CP, promulgated in 2005, on the assignment, sale, contracting, and leasing of SOEs; Foreign Eyes Look for SOE Stake Roadmaps, VIETNAM INVESTMENT […]

Nigeria: SEC Issues Two New Stock Market Rules

(Oct. 2, 2008) The Securities and Exchange Commission of Nigeria issued new rules on September 15, 2008, in conformity with a Federal Government directive to stabilize the stock market. The rules follow the establishment of two technical committees, one to review the code of corporate governance for public companies and the other to review the […]

Australia; New Zealand: Mutual Recognition of Securities

(July 2, 2008) From July 2008, New Zealand and Australia will implement a Mutual Recognition of Securities Offerings (MRSO) that will permit issuers to use a single prospectus to offer shares, debentures, or managed or collective investment schemes to investors in both New Zealand and Australia. (Securities Commission New Zealand & Australian Securities and Investments […]

Israel: Boycott of Corporations Conducting Business with Iran

(May 2, 2008) On April 2, 2008, the Knesset (Israel's Parliament) passed a law to prohibit investments by Israeli financial institutions in corporations that maintain substantive business contacts with the Islamic Republic of Iran. Such contacts are defined as trade, financial, or other economic contacts with the Iranian government, for its benefit or in Iranian […]

Zimbabwe: Indigenization and Empowerment Act

(Apr. 2, 2008) President Robert Mugabe of Zimbabwe signed into law the Indigenization and Empowerment Act on March 7, 2008. The Act requires foreign-owned companies to offer at least 51 percent of their shares to indigenous Zimbabweans, according to news reports. It is unclear whether the mining industry is covered by the Act, Joseph Malaba, […]

Pakistan: Settlement of Investment Disputes

(Dec. 2, 2007) On July 21, 2007, Pakistan promulgated the Arbitration (International Investment Disputes) Ordinance, 2007, in implementation of the International Convention on the Settlement of Investment Disputes Between States and Nationals of Other States. The new law requires a person seeking recognition or enforcement of an award rendered pursuant to the Convention to register […]