The Director Duty of Care in Qatar

In this age of globalization, cross-border investment and intense competition for capital, comparative corporate governance is an increasingly important topic. This Article examines and analyzes the duty of care for directors of publicly-traded companies, comparing Qatari law with Delaware law. It finds that Qatari law on the duty of care is deficient in several respects. Under current Qatari law, directors are liable for duty of care violations for “mistaken” business decisions. Neither gross negligence nor something more than mere negligence is required. Moreover, Qatari law makes these duties non-exculpatory. Thus, in comparison with Delaware, Qatari director obligations are riskier to directors in terms of personal liability and may discourage the most qualified people from becoming directors. Qatar would greatly benefit from modifications to its duty of care law. Specifically, Qatar should enact a business judgment rule (“BJR”) which is vital to creating a balanced risk-taking environment. Qatar’s Companies Law should be amended to include the BJR and should articulate the misconduct necessary to rebut the BJR. The threshold of such conduct should be gross negligence or a business decision for which there is no rational basis. Mere mistake or negligence alone should not be sufficient to impose liability. In addition, Qatar should consider allowing shareholders to approve exculpatory clauses which would insulate directors from liability for duty of care violations based upon conduct where there is no bad faith, self-interest or disloyalty. Doing so would encourage companies to hire the most qualified directors and would encourage the prudent risk-taking that is the hallmark of the world’s most successful corporations

Enforcement Activism of the EU’s Renewable Energy Directive During the Global Financial Crisis

The American “shale revolution”1 has been an economic blessing in a troubled time,2 a blessing the EU (“European Union”) has largely not enjoyed.3 It may prove, however, to have been a double-edged sword. If the focus on expanding shale exploration alleviated energy independence concerns4 to the extent that renewable energy goals were deferred and consequently GhG (greenhouse gas) emissions could not be reduced, then the long-term outcome of the economic blessing may be an environmental curse.5 Meanwhile, foregoing the economic benefits of a non-renewable energy revolution and suffering from the economic downturn maintained pressure on the EU to reduce net energy imports and GhG emissions has ensured it has been unnerving in its renewable energy drive.6 Only three days after a €10 billion bailout of the Government of Cyprus in March 2013 by EU Member States,7 the European Commis sion asked the European Court Justice for a daily penalty on Cyprus of €11,404.808 for “failing to transpose” EU renewable energy legislation.9 Reporting non-compliance and seeking severe state fines in the European Courts at a time of government bailouts, the forcefulness of the European Commission in preventing and punishing infringements of renewable energy agreements has ascended its status to be an environmental cham pion in a time of European turmoil and lack of unity.10 This Article eval uates the European Commission’s enforcement measures of EU renewable energy law throughout the global financial crisis and considers the meth ods it has used. It considers that the financial crisis has only amplified the EU’s push for energy independence, which has empowered the Com mission to go unrestricted in seeking compliance of its renewable energy legislation—with the threat of stringent penalties for even those member states in severe economic or political crises

Rheology, eruption, and flow of three-phase magma

A model is developed for the rheology of a three-phase suspension of bubbles and particles in a Newtonian liquid undergoing steady flow. An `effective-medium' approach is adopted, which treats the bubbly liquid as a continuous medium which suspends the particles. The resulting three-phase model combines separate two-phase models for bubble suspension rheology and particle suspension rheology, which are taken from the literature. The model is validated against new experimental data for three-phase suspensions of bubbles and spherical particles, collected in the low bubble capillary number regime. Good agreement is found across the experimental range of particle volume fraction (0 ≤ φp ≤ 0.5) and bubble volume fraction (0 ≤ φb ≤ 0.3). Consistent with model predictions, experimental results demonstrate that adding bubbles to a dilute particle suspension at low capillarity increases its viscosity, whilst adding bubbles to a concentrated particle suspension decreases its viscosity. The model accounts for particle anisometry and is easily extended to account for variable capillarity, and bubbles which are larger than the particles, but has not been experimentally validated for these cases. This model is a significant step forward, because it allows the viscosity of many magmas and lavas - which typically contain both crystals and bubbles - to be calculated more accurately. The model is then used to explain three volcanological problems. Firstly, it is proposed that in a jammed magma mush, the pervasive formation and growth of bubbles of magmatic gas can push the crystals apart, unjamming the mush. Further bubble growth would then lead to a dramatic reduction in viscosity. This concept is tested using analogue suspensions, and it is demonstrated that the growth of bubbles alone is sufficient to mobilize an initially jammed particle suspension. Secondly, lava morphologies found in the crystal-rich 1780 flow field on Volcán Llaima, Chile, are described. Within the 1780 flow field, occur: well-developed `a`ā, with broad, leveed channels; well-developed pāhoehoe; slabby pāhoehoe with transitions to and from `a`ā; and a cluster of features that have been termed "`a`ā mounds", which are interpreted to be higher viscosity analogues of rootless shields found on Hawai'i, and comparable to megatumuli and terraces found on Mount Etna. It is proposed that this crystal-rich lava was able to flow as pāhoehoe because bubbles lowered its viscosity. Thirdly, a recent lava flow from Kīlauea is analysed, and the various factors that control viscosity quantified. These include bubble and crystal fractions, crystal shapes, and dissolved volatile contents. These factors are then used to understand down-flow changes in morphology. In each of these volcanological problems, understanding the three-phase rheology is important for understanding the problem, and the related flow behaviour and hazards

Maritime Emissions Taxation: An Alternative to the EU Emissions Trading Scheme?

Focusing on the EU’s alternative proposal of an emissions tax, this article analyzes the possibility for the imposition by an EU Member State of a targeted environmental tax to reduce maritime emissions. It considers how such a tax can be imposed in a manner that will not be detrimental to commercial interests and can instigate the desired impact. Importantly, it focuses upon providing a greater incentive for the maritime industry to invest in the most efficient shipping fleet to reduce emissions. It concludes by comparing whether such a perceived maritime emissions tax could be more advantageous than including maritime emissions in the EU ETS

TOWARDS OVERCOMING THE CONFLICT BETWEEN ENVIRONMENTAL TAX LEAKAGE AND BORDER TAX ADJUSTMENT CONCESSIONS FOR DEVELOPING COUNTRIES

Border tax adjustments (BTAs) may be able to alleviate concerns of reduced competitiveness for countries introducing environmental taxes and standards, while limiting the risk of companies relocating to developing countries to exploit lax environmental regimes—known as leakage. 1 However, the ability of industrialized nations to offer developing countries special trade privileges for developmental purposes, including border tariff exemptions on exported goods, provides what is referred to in this article as a “leakage loophole.” This scheme allows relocating companies to produce goods in developing countries at high environmental cost and sell them in the industrialized country they relocated from with no adjustment at the border at a potentially lower cost than domestically produced goods which have internalized their negative environmental externalities. This article considers tax methods that counter the ability of such trade privileges benefitting those wishing to relocate and exploit them as to prevent leakage and ensure any concessions are only available for whom they are intended. In light of current academic debate, this article uses the “best available technology” (BAT) standard to exemplify the potential grounds for adjustment exemption. Further, it considers the uses of border tax adjustments for any legitimate environmental goal, not simply for carbon emissions. This article is divided as follows, with the presumption that this article applies where World Trade Organization (WTO) law is prevalent. Part I provides a background on unilateral environmental objectives. Part II summarizes reasons why nations may take unilateral action for environmental purposes and how it may impact other nations. Part III introduces the concept of border tax adjustments as a potential trade-neutral environmental measure. Part IV identifies that some environmental taxes may aim to alter the production methods used to make a good instead of concentrating solely upon the environmental qualities of the final product. Part V introduces the notion that any tax incentives used to alter production methods could be dependent upon a producer using the BAT. Part VI explains how nations may withhold the introduction of domestic environmental taxes if they believe it would place their industry at a competitive disadvantage internationally. Part VII explains that some developing countries’ exported goods are exempted from border tariffs upon import into industrialized countries as a form of development aid and also attempts to identify the perceived intended beneficiaries of this aid. Part VII also examines how this exemption offers multi-national enterprises the opportunity to register in developing countries in order to exploit the concession, which is in contradiction of the exemption’s intended purpose. Part VIII proposes and critically assesses a number of original solutions to solve this real problem. Finally, this article summarizes and concludes by identifying the most effective solution

The Standardised Baby.

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The Out-of-Classroom Engagement Experiences of First-Generation College Students that Impact Persistence

This article is the result of research conducted with first-generation upper-class college students enrolled at a comprehensive university in Georgia. The researcher sought to answer the following research question: How do first-generation college students perceive the impact of out-of-classroom engagement experiences on persistence? Participants were selected based on a purposeful sampling technique. The researcher utilized a qualitative interpretive approach and collected data via individual interviews and a focus group. The researcher was able to organize the rich data into themes. The article concludes with implications for student affairs professionals and future research on first-generation college students. Keywords: first-generation college students, engagement, persistenc

Banking on AI: mandating a proactive approach to AI regulation in the financial sector

Despite an emerging international consensus on principles of AI governance, lawmakers have so far failed to translate those principles into regulations in the financial sector. Perhaps, in order to remain competitive in the global race for AI supremacy without being typecast as stifling innovation, typically cautious financial regulators are unusually allowing the introduction of experimental AI technology into the financial sector, with few controls on the unprecedented risks to consumers and financial stability. Once an unregulated AI software causes serious economic harm, a public and regulatory backlash would lead to over-regulation that could harm innovation of this potentially beneficial technology. Artificial intelligence is rapidly influencing the financial sector with innumerable potential benefits, such as enhancing financial services and improving regulatory compliance. This article argues that the best way to encourage a sustainable future in AI innovation in the financial sector is to support a proactive regulatory approach prior to any financial harm occurring. This proactive approach should implement rational regulations that embody jurisdiction-specific rules in line with carefully construed international principles.NPRP11S-1119-17001

The rheology of three-phase suspensions at low bubble capillary number

We develop a model for the rheology of a three-phase suspension of bubbles and particles in a Newtonian liquid undergoing steady flow. We adopt an ‘effective-medium’ approach in which the bubbly liquid is treated as a continuous medium which suspends the particles. The resulting three-phase model combines separate two-phase models for bubble suspension rheology and particle suspension rheology, which are taken from the literature. The model is validated against new experimental data for three-phase suspensions of bubbles and spherical particles, collected in the low bubble capillary number regime. Good agreement is found across the experimental range of particle volume fraction (0≤ϕp≲0.5) and bubble volume fraction (0≤ϕb≲0.3). Consistent with model predictions, experimental results demonstrate that adding bubbles to a dilute particle suspension at low capillarity increases its viscosity, while adding bubbles to a concentrated particle suspension decreases its viscosity. The model accounts for particle anisometry and is easily extended to account for variable capillarity, but has not been experimentally validated for these cases