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  • The Cyprus House of Representatives has unanimously approved a law capping stamp duty on transactions with a value over CY£5 million (€8.5 million).
  • Equity Abax launches the first global hedge fund in Hong Kong Abax Global Capital has launched the first globally offered hedge fund in Hong Kong, with investor demand exceeding $1 billion. Sidley Austin represented Abax, with partner Effie Vasilopoulos leading the firm in Hong Kong. It is the first big launch of a new special situations hybrid fund in Hong Kong and is hoped to continue the development of the Asian hedge fund industry. Walkers acted for Abax as the Cayman Islands legal counsel on the deal.
  • Cov-lites remain on First Data buyout
  • Ignore the ABN/Barclays financing row
  • The cockroach that can't be killed
  • An old idea whose time has passed
  • New, restrictive national security rules
  • The Monetary Authority of Singapore (MAS) issued a notice on an enhanced framework relating to the governance and disclosure of participating (par) life insurance business on June 29 2007.
  • Foreign lenders have become more active in commercial real estate financing in Kuwait, either through traditional commercial lending or through vehicles using Islamic sukuk bonds.
  • After a planning process spanning years and a parliamentary debate lasting 11 months, Indonesia has on May 2 2007 passed a new investment law (Law 25/2007). The Law replaces the two separate laws which dealt with domestic and foreign investment respectively and covers capital investment in all sectors. The Law is an attempt to boost Indonesia's investment climate and give teeth to the drive to accelerate the development of the national economy. Indonesia is yet to fully recover from the 1998 Asian financial crisis: investment last year was 3% of total gross domestic product, well below the 10% of GDP realized before the crisis.