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  • The amended Act on Residence of Foreign Nationals came into force in Slovakia on May 1 2017. The priority of this amendment is the transposition of European directives governing seasonal employment and intra-corporate transfers of workers. In terms of business immigration, worth mentioning is the introduction of a simplified procedure for obtaining temporary residence for the purposes of carrying out a business involving an innovative project.
  • The Bangko Sentral ng Pilipinas (BSP), the central monetary authority of the Philippines, has issued circulars amending the country's foreign exchange regulations, to provide greater ease in transacting foreign exchange, among other purposes.
  • On January 16 2017, the Government issued Decree 03/2017/ND-CP (Decree 03) on casino business, after more than a decade in the drafting stage. Under this decree, a casino business enterprise is permitted to operate only within an integrated entertainment, services and tourism zone with minimum investment capital of $2 billion. Decree 03 also mentions 'small scale casino operating enterprises' with total investment capital of less than $2 billion but no specific guidance on this has been given yet. Aside from an investment registration certificate (or investment policy decision), the investment project in an integrated zone is also required to have a certificate for casino business for satisfaction of conditions issued by the Ministry of Finance. Decree 03 also regulates the number of gaming machines and gaming tables based on the total committed investment capital of the project, with maximum of one gaming table and 10 gaming machines for every $10 million of investment capital. The decree also provides that for a period of three years (from the date on which the first casino business enterprise was licensed to conduct the trial), Vietnamese resident citizens, subject to certain restrictions, are permitted to gamble at casino business locations, on a pilot basis.
  • On March 10 2017, the Federal Council of Switzerland opened a hearing procedure for the amendment of the Lex Koller, the law restricting the acquisition of real estate by persons abroad. The Federal Council proposes in part very severe restrictions. For this reason, the Federal Council is not formally proposing to implement the most controversial changes relating to commercial properties and listed real estate companies, but rather is putting them up for discussion only.
  • National Bank of Abu Dhabi hopes to open a new market in the region with its $587 million deal
  • The offering was structured under a tight timeframe with few cornerstone investors - unusual in Chinese mega IPOs
  • All the key discussion points from the March 30 event in London
  • All the winning deals, teams, firms and individuals from last week's ceremony at the Savoy in London
  • Shareholder-originated motions at two major banks could pave the way for new processes governing director nomination
  • The $29 billion merger of equals creates MENA’s second biggest bank and sets the stage for further consolidation in the sector