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  • Cyprus's double tax agreement with the UK is one of its most important, owing to London's predominance as a global financial centre and the strong historic links between the two countries. On March 22 2018, representatives of the two countries signed a new double taxation agreement which, once it has been ratified by both of them, will replace the existing agreement, which dates back to 1974.
  • The amendment to the Labour Code that comes into force on May 1 2018 enshrines, among other things, a pay increase for employees. This pay increase only concerns the wage supplement paid to employees who work (i) on outings; (ii) on Saturdays; (iii) on Sundays; and (iv) at night.
  • Initial coin offerings (ICOs) – the blockchain-based issuance of tokens or cryptocurrencies for the purpose of fundraising – are a hot topic at the moment. There is continuing strong demand from mostly young, technology-based companies that seek to tap the capital markets through ICOs as a viable and efficient alternative to traditional fundraising. Switzerland offers an open regulatory framework for ICOs and has therefore developed as a hotspot for token offerings.
  • On February 20 2018, new logistics regulations under Decree 163/2017/ND-CP took effect and rescinded Decree 140/2007/ND-CP. Although Decree 163 introduces a few changes, including the digitalisation of logistics processes, it fails to open up market access and provide further clarification as expected, and may even create grey areas in practice.
  • Allen Shyu In Australia, Dentons significantly boosted its offering in the country through the hire of a large team of lawyers from DibbsBarker. The move will boost Denton's presence on Australia's east coast.
  • The bill will significantly expand how and why Cfius is able to review both inbound and outbound deal making, and isexpected to change the face of M&A extensively,
  • On March 26 2018, the Brazilian Central Bank enacted amendments to the existing regulation on payment methods, proposing more flexible rules on payment arrangements, payment institutions and on interchange fees charged to issuers of debit cards. The Central Bank expects these changes to foster competition among market players and as a result provide reduced debit card costs for end users.
  • The Financial Regulation Unit (URF) of the Colombian Ministry of Finance and Public Credit (MHCP) issued its regulatory agenda for 2018, including the release of another set of rules to align the Colombian financial regulation framework with Basel III standards for the second trimester of 2018.
  • The courts have debated how to determine the fair value of a company’s stock, though a definitive approach is yet to be agreed upon
  • Russian companies have demonstrated an increased interest in the arbitration market in Asia