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Foreign issuers may not be tempted by Saudi’s reforms Authorities in Saudi Arabia are reportedly drafting a new framework that will allow foreign investors to buy riyal-denominated debt instruments for the first time. The announcement was a significant moment in the history of the Gulf Cooperation Council (GCC), marking another step in the opening up of what has, to date, been one of the most restricted financial markets in the world. But Saudi Arabia is also the world's largest oil producer, with the region's biggest economy, worth $745 billion, and large private sector companies.

Sanjay Mohanasundram The July/August briefing covered the introduction of the Construction Industry Payment and Adjudication Act 2012 (CIPAA) which came into operation on April 15 2014. The purpose of CIPAA is to facilitate regular and timely payment and provide a mechanism for speedy dispute resolution through adjudication. CIPAA is regulated by the Kuala Lumpur Regional Arbitration Centre (KLRCA). In the first of the KLRCA circulars on the administration of CIPAA, it is provided that CIPAA will apply to construction contracts that were entered into before April 15 2014 but the dispute in issue must have arisen after this date. The intent of this circular is clear: to ensure CIPAA has an immediate impact on the construction industry. Regretfully, questions have been raised about the validity of this KLRCA circular and it has been suggested by some parties that CIPAA can only apply prospectively to construction contracts that were entered into after April 15 2014. It is being argued in court that this would defeat the very intent of CIPAA. Therefore, it is suggested that even though CIPAA may have an impact on parties' contractual rights, it would still be necessary for CIPAA to apply to contracts that were entered into before April 15 2014.

Myanmar's first non-recourse financing involving international banks may open infrastructure financing in the frontier market.

Widespread defaults by Indian borrowers have prompted banks to find new ways to recover debt. Verus's Krishnayan Sen explains how they are invoking the RBI Master Circular

In Slovakia, an employee may be obtained from another employer or temporary employment agency through what is called temporary assignment of employees. This is very popular, primarily due to the financial savings associated with payroll administration, and particularly the savings involved with the costs incurred in the event of a sudden drop in production. Another advantage is that job openings can be quickly filled by suitable employees. Also, in the event of a sudden drop in production the employee that was allocated can simply be returned, effectively terminating the employment relationship without the need for a notice period and without the obligation of paying severance to the employee.

Both detractors and supporters of the recent pro-democracy protests in Hong Kong have argued that their side benefits the city-state as a financial centre – and conversely, that the other's views would doom the city's international reputation.

Since the onset of the financial crisis, the tightening of regulation to strengthen and protect the global banking system has been a constant source of debate. The critical question posed by politicians, regulators and the general public is where to strike the balance between security and flexibility.

The Financial Industry Regulatory Authority (Finra) announced last month that it is considering several proposals to improve transparency in the equities and fixed income market.

A capital markets union is regulators’ latest attempt to diversify corporates’ funding sources. But what should the concept actually entail?

Bocom’s tier 2 bond has reconciled regulatory requirements and investor expectations, and opens the market to other issuers