Middle East

Tere tulemast Eestisse!

Eesti kaubandusel on arengupotentsiaali ja siia mahub veel suuri tegijaid juhul, kui kaubanduskeskuste kvantitatiivne areng asendub kvalitatiivsega. Ajakirjade Lebensmittel Zeitung, Corporate information ja Planet Retail andmete alusel koostatud edetabelis „Top 10 International Food Retailers 2015“ olevad kaubanduskeskused pole siiani veel Eestisse jõudnud. Tegu on globaalsete brändidega, mille tulek Eestisse muudaks oluliselt meie jaekaubandusmaastikku ning suurendaks konkurentsi. See aeg ei puugi olla enam mägede taga, kuid kes võiks olla esimene? 

Read full article

Whether Employees Terminated for Misconduct Entitled to Payment of Statutory Dues

In this day and age of hire and fire, employers usually assume that statutory dues of a managerial employee terminated for misconduct can be legitimately forfeited. This assumption may be far from the established principles of applicable laws. Some of the post termination entitlements of a managerial employee dismissed for misconduct are discussed below:

(i)         Salary: Post termination obligations and rights of managerial employees are governed by their contracts and the applicable state’s shops and establishment enactment. While in most states employees occupying positions of confidential, managerial or supervisory character are excluded from the purview of the shops and establishment legislations (‘S&E Act’), there are a few states such as Punjab and Haryana that do not afford a similar exemption and therefore, employees working in managerial or supervisory capacity in these states fall within the purview of the S&E Act. Consequently, the wages of an employee in these states are liable to be paid within 2 working days of termination without any deductions.

Read full article

Mumbai gets favorable order from Bombay High Court

The deal was relating to an Agency agreement between an Indian agent and our client, a foreign principal. The Agency Agreement was for supply of certain material by our client against a Government Tender. The Agreement was for a period of 10 years.

Our client terminated the Agreement by giving due notice. The Indian agent filed civil suit for declaration stating that the Agreement was wrongly terminated and he continues to be the agent. 

Read full article

Update on labor law reforms in India

October 30, 2015

The Government of India is focusing on thorough revamping of existing labour law with sole objective of making it easier to do business in India and create jobs.

  • The Labour Ministry has drafted a bill to integrate three of the existing labour laws i.e. Trade Unions Act, Industrial Disputes Act and Industrial Employment (Standing Orders) Act into a single code for industrial relations.
Read full article

Mood päästab maailma

Tänu moekaupadele on Stockmanni läbimüüginäitajad oktoobris mõnevõrra paranenud. Septembris kahanes müük ligikaudu 11% ning rubla kursi nõrgenemise taustal müük vähenes eurodes vähenenud koguni 17,7% võrra. – see on Septembri kohta
Tavapäraselt oktoobris (7.10–11.10) peetud „Hullude päevade“ kampaania kergitas keskmisi läbimüüginäitajaid 4% – seda peamiselt tänu moekaupade müügile.
Soomes müük kasvas 1,1%, kuid Balti riikides vähenes 3,6%. Venemaal kasvasid müüginäitajad 14,5%, kuigi rubla ebastabiilsuse tõttu eurodes väljendatuna müük hoopis kahanes 17,9%. Kokku vähenesid läbimüüginäitajad eurodes väljendatuna 5,4%.

Muide, Idea grupi viimaste uuringute kohaselt tutvuvad 37% noorematest ostjatest kaubaga ja teevad oste üldiselt tavapoes (ehk on asi selles, et noorukite kiire kasvu tõttu on neil vaja rohkem kaupa oma silmaga näha ja selga-jalga proovida), 31% nendest vaatavad kaupa ja ostavad seda internetis. Seevastu vanusegrupis 35–50 on internetis kaubaga tutvumine ja ostmine hoopis sagedasem. Arvestades Stockmanni poeketi peamise sihtgrupi vajadusi (rohkem luksuskaupu, mis ei ole noorele ostjale alati taskukohased), peavad nad tõenäoliselt laiendama oma tegevust internetis.

Stockmanni kontsern laiendab pidevalt ka oma kaubavalikut. Näiteks septembris lisandusid uued brändid nagu Reiss, Malene Birger, Marimekko Contemporary, Coach ja Tru Trussadi, aluspesutootja Scandale, Coach ja Rebecca Minkoff (käekottid) ning kingabrändid Af Klingberg ja Alexander Wang.

Read full article

Approval of National Offshore Wind Energy Policy

The Government of India has approved the National Offshore Wind Energy Policy, a draft of which was earlier released in 2013, to enable optimum exploitation of offshore wind energy in the best interest of the country. Taking a cue from the large number of offshore wind farms in Europe, the Government of India has identified the coastlines of Karnataka, Kerala and Goa as having reasonable offshore wind potential. Preliminary wind resource data gathered from the coastlines of Rameshwaram and Kanyakumari in Tamil Nadu and Gujarat coast also show a potential of about 1 GW.

In terms of the said Policy, the maritime zones in which offshore wind farms can be built are (a) Indian territorial waters, which generally extend up to 12 nautical miles (nm) from the coast baseline; and (b) beyond the 12 nm limit and up to 200 nm (exclusive economic zone (EEZ)), where, under international law, India has the right to construct structures such as wind farm installations – though this may be reserved for research and development activities.

The said Policy also provides for certain fiscal incentives such as a tax holiday for first 10 years of offshore wind power generation, concession in customs duty and exemption in excise duty for procurement of technology and equipment. Exemption from service tax may also be available for services such as resource assessment, environmental impact assessment, oceanographic study by third parties and use of survey vessels and installation vessels.

The Ministry of New & Renewable Energy (MNRE) has been authorized as the Nodal Ministry for use of offshore areas within the EEZ of the country and the National Institute of Wind Energy (NIWE) has been authorized as the Nodal Agency for development of offshore wind energy in the country and to carry out allocation of offshore wind energy blocks, coordination and allied functions with related ministries and agencies. It is expected that the offer of wind energy blocks will be made through an open International Competitive Bidding (ICB) process.

India has already achieved significant success in onshore wind power development, with over 23 GW of wind energy capacity already installed and generating power. The Policy will be applicable throughout India depending on offshore wind potential availability.

Read full article

Review of Existing Foreign Direct Investment Policy on Partly Paid Shares and Warrants

It has now been decided to allow partly paid shares and warrants as eligible capital instruments for purposes of FDI. The review of the policy to include warrants and partly-paid shares has been under consideration of the Government for some time now. Prior to this relaxation, warrants and partly paid shares could only be issued to foreign investors only after approval through the Government route, that is, the Foreign Investment Promotion Board (“FIPB”). The definition of “Capital” in the Consolidated FDI Policy Circular of 2015 has accordingly been amended with effect from May 12, 2015 by Press Note NO. 9 (2015) Series. Partly paid shares and warrants may now be issued to foreign investors in terms of the Companies Act, 2013, without the prior approval of the Government, however, subject to terms and conditions as may be stipulated by the Reserve Bank of India from time to time.

In terms of current Reserve Bank of India regulations, prior approval of the FIPB is required where the Indian company’s activity/sector falls the approval route. Otherwise for Indian companies whose activities/sectors are under the automatic route, issue of partly paid shares and warrants do not require any prior regulatory approval. However, pricing of the partly paid equity shares/warrants (and the price/conversion formula for the warrants) has to be determined upfront and 25% of the total consideration amount (including share premium, if any), has to be received upfront. The balance consideration towards fully paid equity shares has to be received within a period of 12 months (18 months in the case of warrants) except where the issue size exceeds Rs. 5 billion and complies with certain conditions.

Read full article

How Can Franchisors Guard Against Patent Infringement?

Let’s take a quick look at steps that helps franchisors in protecting their brand’s patent rights to cement stronger position in the market.

As an expression intellectual property connotes a cluster of rights acquired by any person upon creations of his mind such as inventions, literary and artistic works, processes, designs and symbols, names and images used in commerce. The intent of any intellectual property system is to safeguard the rights of an inventor/ creator in the work of its cognition, inception and creation. Patent is one such right covered under the umbrella of intellectual property rights. In India, patent means the grant of some privilege or property by the Government to one or more persons and statutorily, a patent has been defined under the Patent Act, 1970 (“Patent Act”), as ‘a patent for any invention (i.e., a new product or process involving an inventive step and capable of industrial application) granted under the act’.

Read More

Read full article

ITAR Amendment to benefit Israelis Dealing in U.S. Military Products

On August 26, the U.S. Government finally brought some much needed clarity to an area of its International Traffic in Arms Regulations (ITAR) that was until then the cause of much confusion and uncertainty.

While much of the ITAR is concerned with controlling the movement of U.S. military equipment and technology from the U.S. and the subsequent movement and use of the products and technology outside the U.S., Section 129 of the ITAR is concerned with the control of certain “brokering activities” related to ITAR controlled military equipment and technology.

Read More

Read full article

New Indian Wind Resource Atlas Announced

The Ministry of New and Renewable Energy (“MNRE”), Government of India, through the National Institute of Wind Energy (NIWE), an autonomous institute of MNRE, has announced the “Indian Wind Resource Atlas : Online GIS”, with a tracking level of 100 metres, using scientific combination of satellite and one of the world’s largest number of measured (1,300 locations ) ground data. The NIWE (formerly C-WET) had released the Indian Wind Atlas at 50m and indicative values at 80m hub heights in April 2010 in collaboration with RISO-DTU, Denmark. 

Read full article