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The bond market will help fill Turkey’s project funding gap, but it’s no panacea Turkey's first infrastructure bond has opened another financing avenue for the country's high performing projects. The $450 million issuance by the operator of Mersin International Port included incurrence-based covenants, making it akin to a high-yield offering.

Investigations of alleged oil price manipulation highlight the challenges of overseeing cross-border oil price benchmarks. Michael A Yuffee, Daniel A Mullen and J Peter Ripley of Fried Frank Harris Shriver & Jacobson explain why

On December 17 2012, the Energy Regulatory Commission of the Philippines (the ERC) adopted the Transitory Rules for the Initial Implementation of Open Access and Retail Competition (the Transitory Rules) to ensure a smooth transition towards an open access and retail competition regime in the power sector. Under an open access regime, contestable customers (electricity end-users which have a choice of electricity suppliers) have the option to choose their own electricity supplier.

Since 2006, Thailand has approved policies to promote the purchase of power from projects using renewable energy. The 2009 National Energy Policy Committee (NEPC) approved additional tariff adders for certain categories of alternative energy, including solar power.

Gareth Thomas and Priya Aswani of Herbert Smith Freehills offer a review of key cases and legal developments from the past year

Milagros Maravi Public-private partnerships (PPPs) have been used in Peru since the 90s, primarily for the development or improvement of public infrastructure and services, specifically transportation (ports, airports, highways, urban road networks, train and subways) telecommunications, health, sanitation, electricity, hydrocarbons, public cleaning and disposal of solid waste, agriculture and irrigation sectors. PPPs in Peru bind private investors with the national, regional or municipal governmental agencies, as a means to promote projects within their corresponding competence or jurisdiction.

To Citi, the in-house legal role is more critical than ever. The team adds value by understanding the legal, political and regulatory environment and working closely with the risk organisation.

Andrés Felipe Parra Ana María Rodríguez In 2011, the Colombian Congress enacted an anti-corruption statute known as Law 1474 of 2011 to bring the country's anti-corruption laws up to international standards. The Law contains provisions that specifically refer to anti-corruption policies and prohibitions that are applicable to all sectors of the economy. Therefore, companies undertaking business activities in Colombia should adopt specifically tailored compliance policies and procedures, including the establishment of compliance manuals, to heighten awareness within the corporate organisation and minimise the potential legal liabilities that may arise out of unlawful conduct by any of its employees or third-parties acting on the entity's behalf. Surprisingly, most companies in Colombia remain unaware of the existence of the new anti-corruption regulations, and the severe penalties that may be imposed for violations of the new law. One of the most significant penalties includes the potential cancellation or suspension of the company's registration with the Chamber of Commerce if it can be proven that the entity has sought to benefit from the commission of a criminal offence against the public administration, such as the commission of a bribery-related offence.

Cavinder Bull SC and Chia Voon Jiet of Drew & Napier examine the role of lawyers and in-house counsel in discovery for litigation proceedings in Singapore

An analysis of recent corporate scandals reveals the solution to China’s agency problem