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Daniel Futej Rudolf Sivak Radka Gerzova Recently, two amendments were passed introducing novelties into the public procurement process in Slovakia. The changes do not enter into force at once, but will take effect gradually up to January 1 2014; however, most of the changes will already be effective as of July 1 2013. A new obligation to use an electronic auction by respective authority will apply only to goods which are readily available on the market. As regards other goods, services and construction works, it will be up to the authority whether it will use an electronic auction. It is not clear what criteria should be used when the authority is deciding whether or not it will use an electronic auction.

After five years of severe recession and price adjustments to real-estate assets in Spain, there is finally light at the end of the tunnel. This good news in the Spanish real estate market is largely due to key structural modifications that should help the cycle change and increase the appetite of international investors.

Pedro Dittrich Having not held auctions of areas for exploration and production of oil and gas since 2008, the Brazilian government decided to hold three bidding rounds in 2013: the 11th bidding round, which took place in May; the first pre-salt bidding round, to be held on October 22, certainly the biggest auction to be held in the sector; and the 12th bidding round, focused on the production of unconventional gas. Such initiatives have affected substantially all aspects of the oil and gas industry, creating various investment opportunities in the country. The 11th round presented very good results. Thirty winning companies, of which 18 were foreign, auctioned 144 onshore and offshore blocks in 11 sedimentary basins. Many records were achieved, such as the record number of 63 qualified companies to submit proposals, a record signing bonus ($1.4 billion in total), and the highest bid for a single block ever offered in Brazil ($172.5 million). All these numbers show the confidence of investors in the Brazilian opportunities for oil and gas.

Some ambitious ideas are driving the transformation of Mongolia’s capital markets. Here’s the inside story on what next to expect from the frontier

Map and data showing issuance across the world, courtesy of Goldman Sachs, Euroweek and The Cover

Agustin Martin Calmarza, head of European Credit Research & covered bonds at BBVA, assesses the characteristic of different covered bond regimes and how the instrument are becoming a global asset class

The Italian Supreme Court, through its decision No 13905 of June 3 2013, has now recognised the right of non-professional clients to receive wider protection when dealing in financial instruments or investment services.

Johan Christian Kongsli, Karl Rosén and Børge Grøttjord of Grette offer a detailed overview of covered bond legislation in Norway

Vandana Shroff of Amarchand & Mangaldas explains the Indian securities regulator’s latest rules on M&A involving listed companies

Clifford Chance’s Peter Voisey and Will Sutton outline the regulatory changes affecting the UK covered bond market, but remain optimistic that clarity and certainty will emerge