New United Arab Emirates Law Governing Companies May Lead to Greater Foreign Ownership

The UAEs’ Cabinet Dec. 4 approved the first major reforms of corporate rules in 27 years, including possible foreign ownership provisions, as the Gulf state seeks to attract more outside investment to help diversify its economy…

India Yields to Protests, Suspends Move To Permit 51% Foreign Stake in Multi-Brand Retail

The Indian government has suspended its Nov. 24 decision to allow 51 percent direct foreign investment in multi-brand retail—a measure that was meant to showcase the government’s determination to push through reforms but has now achieved the opposite effect…

Canada to Withdraw From Kyoto Protocol, Commits to Copenhagen Accord, U.N. Talks

Canada plans to withdraw from the Kyoto Protocol because it thinks the treaty does not provide a realistic framework to address climate change…

At U.N. Climate Summit, Countries Set Goal For New Climate Deal in Effect Around 2020

While negotiators at the U.N. climate summit agreed to a pact that will obligate the world’s largest greenhouse gas emitters to take steps to reduce their emissions starting as soon as 2020, the deferral of many important decisions to 2012 or beyond makes it difficult to gauge the value of the accord…

U.S. SEC, DOJ Charge Former Senior Siemens AG Execs Over Alleged Argentine Bribery Scheme

The DoJ and the SEC Dec. 13 announced parallel charges under the Foreign Corrupt Practices Act against former senior Siemens AG executives over an alleged decades-long bribery scheme to retain a $1 billion contract to produce national identity cards for Argentine citizens…

EU Banks Need $152.5 Billion To Meet Recapitalization Requirements, European Banking Authority Says

European banks continue to be buffeted by the sovereign debt crisis in the euro zone and therefore must raise a total of $152.5 billion in new capital in order to restore confidence in the sector, the European Banking Authority declared…

ANALYSIS: The Hong Kong Stock Exchange’s New Listing Rules For Debt Securities Issued To ‘Professional Investors’

The Hong Kong Stock Exchange recently amended its listing rules in respect of listing of debt securities issued to professional investors…

ANALYSIS: French Appeals Court’s Suspension Of U.S. Company’s Whistleblowing Scheme Despite CNIL Approval: Reasons And Implications

On September 23, 2011, the Labor Chamber of the Caen Court of Appeals upheld a decision suspending a whistleblowing scheme implemented by Benoist Girard, a subsidiary of the U.S. group Stryker, even though the French data protection authority, the Commission nationale de l’informatique et des libertés (CNIL), had inspected and approved the scheme before its implementation…

ANALYSIS: Long-Awaited Proposals For EU Data Protection Reform: A First Glimpse

After a review process that has lasted longer than two years, EU draft data protection reform legislation entered inter-service consultation at the beginning of December 2011…