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Articles by Mark Hu
‘Trade use’ and local custom can affect how construction contracts apply
Trade usage and business customs can play a role in construction contracting. The precise role that they will play, and how they can affect the bargain that has been agreed by the parties, will often depend on the importance given to trade usage and business customs in the local laws. Trade usage is a term that generally refers to the practices within a particular industry that have become widely accepted and recognised as the norm.
Extracontractual relief from economic hardship
Out-Law Guide | 28 Nov 2022 | 10:25 am | 6 min. read Price escalation is a crucial risk for contractors and suppliers engaging in construction and engineering projects where the parties have agreed to a “fixed price” or inadequate contractual forms of relief for substantial rises in the prices of materials, labour and energy costs.
Qatar International Court demonstrates international arbitration credentials
A recent ruling could prompt multinational businesses entering into arbitration agreements seated in Qatar to select Qatar's International Court as the specific forum for resolving their disputes, an expert in international arbitration has said.
CJEU ruling on framing and inline linking 'strengthens protection of authors'
The Court of Justice of the European Union (CJEU) ruled that framing or inline linking is an unauthorised use of copyright if it circumvents technical measures the author has taken. Framing and inline linking are ways to link content on different websites. The content appears to the viewer as part of the page they are visiting but it has been embedded there via a link to another site.
AGL to acquire two Australian commercial solar energy providers
ASX listed energy provider AGL is to acquire two Australian solar power companies, Epho and Solgen Energy Group. The acquisition means AGL will have the systems and technologies in place to deliver more tailored and innovative energy solutions for businesses and deliver over 70MW of commercial solar each year, becoming the largest commercial solar provider in Australia, according to a statement.
350MW battery to replace Yallourn coal plant
Energy generation company Energy Australia has planned to close its Yallourn coal plant in Australian Victoria state in 2028 and build a 350-megawatt (MW) battery by 2026. The battery will provide energy for four hours at a time and will be “larger than any battery operating in the world today”, according to Energy Australia’s managing director Catherine Tanna. The company will work with the Victoria state government on a A$10 million support package to reskill about 500 affected workers, it said.
Germany plans €2.5bn loan to Indonesian green infrastructure projects
Germany has agreed to lend €2.5 billion ($2.9bn) to fund green infrastructure projects in Indonesia's urban areas to reduce carbon emissions. The fund will be distributed over five years through a partnership between Germany and German National bank (KfW) under an Indonesian-German Infrastructure scheme, according to a report. The scheme aims to reduce carbon emissions in Indonesian cities.
Indonesia’s new sovereign wealth fund will focus on infrastructure
Indonesia’s new sovereign wealth fund is exploring investing in several infrastructure projects including 24 toll road concessions worth $2.6 billion, according to Reuters. The concessions include a toll road south of the capital Jakarta and parts of a new Trans Sumatra highway. They are operated by three state owned companies, which are the construction companies Waskita Karya and Hutama Karya, and a toll road operator Jasa Marga.
Singapore to raise retirement, re-employment ages as planned in 2022
Singapore will raise the retirement age to 63 and the re-employment age to 68 from 1 July 2022. The public service will raise the ages one year ahead of legislation for its roughly 146,000 officers on 1 July 2021, which will help to keep the country on track to increase the retirement age to 65 and the re-employment age to 70 by end of 2030, according to Manpower minister Josephine Teo.
Hong Kong court sets aside arbitral award against wrong company
The Court of First Instance in Hong Kong has set aside an arbitral award after the party bringing the claim erroneously amended the name of the respondent to that of a non-party to the arbitration agreement.
Pinsent Masons recognised in China Business Law Journal’s Deals of the Year 2023
The NEOM project is one of the world’s largest and most complex transportation and public infrastructure projects, which is aiming to create a highly automated city utilising clean energy sources, such as solar and wind power. A number of Chinese state-owned contractors undertook various infrastructure projects within the project, including tunnels, dams, high-speed railways, renewable energy infrastructure and utilities.
Saudi Arabia confirms Covid construction disputes approach
The courts of Saudi Arabia now have a clear method for approaching contractual disputes sparked by the Covid-19 pandemic. On 23 December 2020, the Supreme Court of Saudi Arabia issued order no. M/45 of 8/5/1442 H ('the SC order'), setting out the rules to be applied to contracts impacted by the Covid-19 pandemic. Although some final judgments had been produced and certified by the Court of Appeal before this date, others were postponed pending the issue of the order.
First Foreign Company With VIE Structure Goes Public In China
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First Foreign Company With VIE Structure Goes Public In China | JD Supra
On October 29, 2020, Ninebot, a leading supplier of electric scooters incorporated in the Cayman Islands, went public on China’s Science and Technology Innovation Board (the “STAR Board”). This makes the company the first foreign-incorporated company using a VIE structure to issue Chinese Depositary Receipts (“CDRs”) in China. The opening price of Ninebot was CNY 33 on the first trading date, which nearly doubled its offering price at CNY 18.94.
Propller choise for contra drive, test with Twin-Motor contra system.
Most F3A fliers use props as drive makers recommend, like 22X20F and 22X22R, I use this for 3 months with my first self made contra drive, and they recommend that the rear prop should be bigger pitch than the front. I want to try new props, 23 inches, but I'm not quite sure about the pitch choice. Recently I build a series of contra drive system for my F3A, one of the most interesting drives is a Twin-motor contra drive, with 2 ESC, that is just a perfect project for my prop test.
Chinese Anti-Monopoly Regulator Unconditionally Approves First Merger Control Filing Involving Variable Interest Entity (“VIE”) Structures | JD Supra
On July 22, 2020, China’s State Administration for Market Regulation (“SAMR”) published its unconditional approval of the concentration of operators in the Shanghai Mingcha Zhegang Management Consulting Co., Ltd. and Huansheng Information Technology (Shanghai) Co., Ltd. Newly Established Joint Venture Case (the “SMZ Case”). This is a major regulatory development in China in relation to the legitimacy of the VIE structure.
The VIE Structure: Past, Present and Future - Part I
I. INTRODUCTION This year is the 20th anniversary of the listings of Sina Corp., Netease and Sohu.com, which were the first companies to complete offshore listings using a structure that would later become known as the variable interest entity structure (the “VIE Structure”). On the occasion of this significant milestone, it seems appropriate to review the history, current status and future prospects of this structure.
Chinese Anti-Monopoly Regulator Accepts First Merger Control Filing Involving Variable Interest Entity (“VIE”) Structures | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
World Bank funds $86m for Vietnam energy efficiency projects
World Bank issues $86.3 million energy efficiency grant to Vietnam. The World Bank has given a $11.3m grant to the State Bank of Vietnam on behalf of the Green Climate Fund (GCF) so it can lend companies money to improve energy efficiency. The total financing from GCF also includes a $75m guarantee, a statement said. $8.3m will be used by the private sector to identify and execute energy efficiency projects.
Study reveals consumer attitudes to digital payment methods in retail market
Retailers that support innovative ways of payment are winning praise from consumers on social media channels, according to new research. MasterCard said a study it had conducted in partnership with PRIME Research found that consumers have been active in praising the convenience of contactless and mobile payment services offered by retailers. The "social listening study" looked at 1.6 million "unprompted online conversations" in 61 countries, it said.
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