Taiwan Semiconductor Manufacturing Company continues to lead against its competitors in the IP field. Currently, the company is using its advanced 5-nanometer process in the commercial production of the A-series processors for Apple’s iPhone line. TSMC is also involved in the production of Apple’s M1 Ultra chip which will be used in Mac computers amongst other applications.

From 1 January 2022, amendments to the Hong Kong Stock Exchange Main Board Listing Rules came into effect. These amendments will impact Bermuda, British Virgin Islands and Cayman Islands companies contemplating a listing in Hong Kong as well as existing listed companies. An overseas listed company whose shares are listed, or contemplated to be listed, on the Stock Exchange of Hong Kong must demonstrate how the domestic laws, rules and regulations to which it is subject and its constitutional documents together can provide the core shareholder protection standards as set out in Appendix 3 to the Hong Kong Listing Rules (Shareholder Protection Standards). For this purpose, amendments to the constitutional documents of an existing overseas listed company may be required to demonstrate its compliance with the newly amended Appendix 3. An existing overseas listed company will have until their second annual general meeting following 1 January 2022 to make necessary changes to their constitutional documents to conform to the Shareholder Protection Standards. Under the revised listing regime, shareholders of all listed companies must be afforded with a minimum level of Shareholder Protection Standards. The following highlight the key features of these standards which are relevant to Bermuda, British Virgin Islands and Cayman Islands listed companies: (i) General meetings: A listed company must hold an annual general meeting for each financial year, not calendar year, with reasonable written notice (usually at least 21 days for an AGM and at least 14 days for an EGM) to be given to shareholders for each such general meeting. Shareholders have the right to speak and vote at general meetings unless shareholders are required...

The United Arab Emirates is a beneficial business environment and, in order to improve the same, a new law will be released concerning commercial agency contracts that will replace Federal Law No.11 of 2020 concerning UAE commercial agency law. As the UAE is a country that attracts investment, the new law will grant local markets entry to the worldwide market. Moreover, attracting foreign investments directly is one of the significant purposes of the new proposed law. The new law will grant commercial agents numerous statuary rights. These rights are intended to protect an agent who has spent a considerable amount of effort and cost in building a profitable market profile for products or services. One of the main changes is concerning the conditions to end a fixed-term contract. The new conditions under which a commercial agency contract may be expired are as follows: 1. Expiry of the commercial agency contract: Expiry of the contract term unless that period is renewed by agreement of the contracting parties. By the will of either party based on the terms and conditions of the commercial agency contract. By agreement of the contracting parties before the end of the contract term. Issuance of a court ruling to terminate the commercial agency based on the provisions of this law or the commercial agency contract. Any other case mentioned in this law. 2. In an instance in which a commercial agency arrangement is being transferred to a new agent, unless the two parties to the original commercial agency contract agree otherwise or upon the termination of the commercial agency and when any of the cases set...

The National Economic Development Authority (NEDA) released in 2017 its five (5)-year Philippine Development Plan (Plan). It seeks to implement the lofty objectives of the Philippine Competition Act (PCA). In detail, it aims to review potentially anti-competitive legislation and policies, analyze competition issues in priority sectors, investigate anti-competitive conduct and agreements, promote competition-related policies and best practices, and conduct capacity-building activities for government agencies and other institutions. The Philippine Competition Commission (PCC) has made great strides in implementing the Plan. The pandemic has not deterred the PCC in fulfilling its mandate. It is worth mentioning its efforts having impact on businesses. It has taken a stand on significant competition law issues, as found in its numerous policy notes, affecting priority sectors. To date, it has trained its sights on rice, sugar, pharmaceutical, shipping, and construction industries. In 2020, the Supreme Court (in Philippine Construction Accreditation Board (PCAB) Vs. Manila Water Company, Inc.) considered the PCC’s stand on the nationality restriction imposed on construction activities. It noted the PCC’s explanation that such restriction was unfair and a significant barrier to entry of foreign competition. This led the Supreme Court to invalidate the long-standing administrative rule limiting foreign contractors’ participation in the country’s construction activities. It is only a matter of time for this Supreme Court ruling to become final, and for PCAB to ultimately accede to this significant pronouncement. The PCC is mandated to align the country’s competition policies with various regulatory requirements. Consistent with such mandate, the PCC has coordinated with different regulatory agencies and other administrative bodies and has concluded special arrangements with the country’s financial regulators, namely:...