Sovereign Wealth Funds in the UAE, Egypt, and Kuwait

The UAE, Egypt, and Kuwait sponsor SWFs. Decision-making in the SWFs of these countries is made by the Board of Directors and management or operating committees or teams. While internal politics and geopolitics inevitably influence SWFs, the government’s direct participation in decision-making could cause concern for host countries. SWFs in the three countries are regulated under domestic law through their legal mandate and supervision by the designated government authority. The Santiago Principles and IFSWF comprise the international regulatory framework for SWFs. However, compliance is voluntary and there are no sanctions for erring members. Compliance is limited in the three countries, especially in the area of disclosure because of the close involvement in the SWFs by the ruling family in the UAE and Kuwait and the Prime Minister in Egypt. SWFs in the three countries are growing and assuming more important roles. With their expanding roles, they have to increasingly address domestic and international expectations to function more effectively. A starting point is better compliance with the Santiago Principles, which is a matter of interest in the global market. Creating a regional chapter of IFSWF can facilitate context-specific standards and compliance. Regulatory reforms can also improve the domestic investment climate to make SWFs more effective at fulfilling their purpose

Pathways from the (semi) Periphery: Early Assessment of EU Mercosur Trade Agreement in Principle: Environmental and Development Aspects

In the current international and domestic context, imagining a more complex bilateral trade agreement is more accessible than between the European Union (E.U.) and Mercosur (the South American International Trading Bloc). The tensions between these major trading blocs only aggravate international trade and economic relations. Consequently, the World Trade Organization (WTO) is bracing for its most significant challenge since its establishment in 1994. Between the E.U. and Mercosur\u27s complex trade agreement and the WTO\u27s challenge, the post-COVID-19 international legal environment has become even more complicated.   The aims of this paper are: (1) to analyze the importance of the E.U.–Mercosur agreement within the current institutional trade framework; (2) to present some of the most controversial dilemmas posed by the present agreement; and (3) to evaluate the extent to which the agreement may support or hinder more sustainable and inclusive development among both trade partners. This study will focus on Brazil due to its geography, population size, and historical efforts to bring the nation closer to the international periphery and its radical turn to authoritarian populism. Additionally, Brazil\u27s Amazon Rainforest\u27s global necessity is essential for this study

Bank Disclosure Practices in Bangladesh: Exploring the Impact of Corporate Attributes

Disclosure is necessary so that interested parties can make wise decisions. The study aims to establish the level of disclosure and whether different corporate attributes influence it. Each sample bank\u27s disclosure score was calculated using the unweighted disclosure index. Throughout five years, spanning 2016 to 2020, the necessary data were collected from sample banks\u27 annual reports, and several statistical tools were employed to illustrate the study\u27s conclusions. The study\u27s findings report that the average level of disclosure is satisfactory. The ANOVA test was used to establish whether there was a significant difference in the disclosure levels, and the results show a substantial difference in this case. Multiple regression analysis was performed to investigate the effect of various corporate attributes on disclosure levels. The study\u27s consequences showed that although these variables had significant values higher than 0.05, ROE, EPS, CAR, and log number of employees had no significant influence on disclosure levels. However, at the 0.05 significance level, log total assets demonstrate 0.055 significant levels, indicating that LTA considerably influences disclosure levels

Should the Federal Reserve Issue a Digital Currency as Virtual Legal Tender? An Econo-legal Analysis Based on China’s Master Plan for De-dollarization

Mainstream discussion on whether the Federal Reserve should issue a central bank digital currency (CBDC) as virtual legal tender focuses on five aspects related to the American domestic environment -- efficiency, privacy, safety and security, financial inclusion and exclusion, and impact on the current economic systems and monetary policies. This article takes a new and broader perspective on this critical issue by investigating how China, being the arch-international competitor of the US, has formulated a well-designed and structured master plan supported by various econo-legal strategies to pursue the objective of de-dollarization through the utilization of a China-currency-based CBDC with “controllable anonymity” and different multicurrency exchange and settlement platforms. Given the reality that de-dollarization will inevitably weaken the ubiquitous platform of international trade and payment of the US dollar (USD), can the Federal Reserve use the same tool, a USD-based CBDC, to counteract or even reverse the declining trend of the American currency’s versatility and far-reaching capability? This article recommends that the Federal Reserve can slow down the de-dollarization movement by issuing a CBDC at both the wholesale and retail levels, emphasizing the control of the former while having more cooperation with private banks for the latter

Jeju Island- A “Visa-Free” South Korean Destination, Not Free to All: A Legal Remedy

Jeju Island, a picturesque island off the southern coast of South Korea, is a popular destination known for its stunning natural landscapes and unique culture. Unlike South Korea’s general visa policy, which requires visas for many nationalities, Jeju Island offers a more lenient visa-free policy, allowing most travelers to stay for up to 30 days without a visa, providing they satisfy the requirement of arriving via direct flight outside mainland South Korea. However, the island\u27s visa policy is only partially inclusive, as it excludes nationals from 23 countries designated by the South Korean Ministry of Justice. While allowing visa-free travel for tourists is a concept explored previously, South Korea\u27s restriction on certain nationalities undercuts its goal of promoting tourism and economic development on Jeju Island. Interestingly, other countries that have visa-free island policies do not impose such restrictions, including Vietnam’s Phú Quốc Island, Iran’s Kish and Qeshm Islands, and Norway’s Svalbard. This article delves into Jeju Island’s visa policy, the list of excluded countries, and the policies of other countries with visa-free islands. It proposes a straightforward legal remedy that could promote more inclusive tourism by allowing all nationalities to visit Jeju Island without visa restrictions. Such a move would enhance the island’s reputation as a welcoming and inclusive tourist destination and foster greater international cooperation

Blockchain-Enabled Marketing Analytics for Enhanced Campaign Transparency

In the digital age, blockchain technology has enormous potential to transform marketing analytics and improve campaign transparency. This project aims to investigate how blockchain-enabled marketing analytics might enhance the efficacy and transparency of campaigns. The primary aims of the research were to examine the difficulties associated with conventional marketing analytics, investigate blockchain-based remedies, evaluate real-world case studies, deliberate on potential future paths and valuable suggestions, and evaluate the constraints and policy ramifications. The study\u27s approach comprised a thorough analysis of case studies, literature, and professional comments from blockchain and marketing analytics experts. The fundamental discoveries include discovering blockchain-based solutions for conventional marketing analytics problems, presenting real-world applications through case studies, identifying future directions, and helpful adoption advice. The need for regulatory frameworks to manage data privacy issues, advance interoperability, and assist with initiatives for cooperation and education are among the policy consequences. This study sheds light on the revolutionary possibilities of blockchain-enabled marketing analytics for raising campaign transparency and spurring innovation in digital marketing

Securing Financial Information in the Digital Realm: Case Studies in Cybersecurity for Accounting Data Protection

Securing financial information, especially accounting, is essential in the digital world. This article explores organizations\u27 challenges in protecting accounting data from evolving cyber threats. By sharing real-life case studies and industry research, we offer suggestions to enhance the security of accounting information. These recommendations include adopting cybersecurity frameworks implementing technical defenses like endpoint protection and network segmentation, following secure coding practices prioritizing user awareness and training, creating incident response and business continuity plans, regularly conducting vulnerability assessments and monitoring, maintaining strong vendor relationships, and ensuring compliance with relevant regulations and standards. By implementing these suggestions, accounting professionals and organizations can strengthen cybersecurity measures. Effectively protect valuable financial data from the ever-growing threat landscape. Taking an approach that combines technical measures, user awareness, incident preparedness, and regulatory compliance is crucial when navigating the digital landscape with confidence and resilience

An Analysis of Afghanistan\u27s Postwar Condition and How to Use AI Technology to Address It

In August 2021, President Biden announced the withdrawal of the US army from Afghanistan. As the final armed force withdrew on August 30th, 2021, the long-term direct interference of the US army in Afghanistan ended. Since the Afghanistan War in 2001, US-led forces have sought to eliminate insurgencies and reestablish social and political orders. In the past 20 years, the US has spent considerable effort and funds to assist in the recovery and development of Afghanistan. The reappearance of the Taliban in power in Afghanistan and the retreat of US forces from the nation revealed that all the efforts the US had previously made did not meet the expectation they should have. Thus, the inefficiency of counterinsurgency in Afghanistan could be a sign that the currently existing methods might not be able to provide an effective solution for the situation in Afghanistan. Inspired by the development of novel technologies such as Artificial Intelligence, this article argues that the current usage and development of such technologies can foreshadow possible solutions to Afghanistan\u27s various problems

Choice of Law and Nazi-Looted Art Restitution: Cassirer v. Thyssen-Bornemisza Collection Foundation

On April 21, 2022, the Supreme Court came to an unanimous decision in Cassirer v. Thyssen-Bornemisza Collection Foundation, a case concerning the legal ownership of a valuable painting by Camille Pissarro that was appropriated by the Nazi regime during the 1930s when its Jewish owners fled to the United States. After World War II, the painting changed ownership several times, ultimately to be acquired by Baron Hans Heinrich who sold it to the Thyssen-Bornemisza Collection Foundation in the Kingdom of Spain. After sixteen years of litigation and four appeals to the Ninth Circuit, the Supreme Court vacated and remanded the case back to the Ninth Circuit. The opinion, written by Justice Kagan, contended that in a suit raising non-federal claims against a foreign state or instrumentality under the FSIA, a court should determine the substantive law by using the same voice of law rule applicable in a similar suit against a private party. This paper will introduce the facts of Cassirer, present its procedural history, and dissect its treatment before the United States Supreme Court. This analysis will conclude with a discussion of the potential implications of the Cassirer decision on future Nazi-looted art claims

Chinese Attitudes toward Intellectual Property Rights-Change and Continuity

Intellectual property has been central to Sino-US disputes in the past decades. The US government has taken various measures to compel China to enforce IP rights (IPR) protection in conformity with what would be acceptable by US standards, only to find differences persisting and these IPR disputes far from resolved. To better understand the tension between China and the US over IPR protection, this note provides a historical analysis of China’s IPR development from Late Qing to today, focusing on the changes and continuities in Chinese attitudes toward IPR across different periods. Without indigenous concepts of IPR, China was forced to accept western standards at a time of military and political weakness and has consequently remained vigilant against foreign domination in this field. However, China also gradually developed a genuine appreciation for modern IPR to the degree that would benefit China\u27s economic development and status in the global community. A normative judgment on China\u27s IPR protection would frustrate efforts at dispute resolution by assuming US standards of IPR protection as universally ideal. As China and the US continue to cooperate in trade and technology, mutual understanding and appreciation of a shared set of IP standards would be essential