A photo of vehicular traffic
A Chinese-based construction company, Beijing Everyway Traffic and Lighting Tech Co Ltd is claiming USD55 million from Ghana for cancelling a contract it awarded it to develop an intelligent traffic management system for the country.
The Chinese-based company is also claiming the amount following the award of the same contract to another Chinese-based company by Ghana.
The notice of arbitration was served on the Ghana government under the China-Ghana bilateral investment treaty on Wednesday, 10 February 2021.
The Chinese-based company is being represented by Zhong Lun Law Firm in Beijing.
The lawyers are of the opinion that the claim against Ghana is the first against an African country by a mainland Chinese Investor.
On Monday, Google, Amazon, ByteDance, Discord, Facebook (including WhatsApp), Reddit, Snap, Twitter, and YouTube were ordered by the Federal Trade Commission (FTC) to share detailed documentation about their data collection and processing operations, including algorithms, advertising information, and “each User Attribute that the Company uses, tracks, estimates, or derives.” FTC commissioners Rohit Chopra, Rebecca Slaughter, and Christine Wilson insisted in a statement justifying the order that “too much about the industry remains dangerously opaque.” The order, which follows the FTC’s lawsuit against Facebook last week, is part of a broader investigation into big tech’s business practices.
Net Politics
In a pandemic-hit year when dealmaking was more of a challenge than usual, certain lawyers stood out for their innovation, determination and focus on client needs. In this annual feature, ALB spotlights some of the standout dealmakers in the year gone by.
SHINICHI ARAKI
Partner, Nagashima Ohno & Tsunematsu
Araki, a capital markets expert, has more than two decades of experience. He represents numerous major Japanese financial institutions, manufacturers, technology companies and retailers. He also has a strong relationship with many major investment banks in Japan.
Araki has acted on numerous matters including, most recently, advising Nomura, Goldman Sachs and SMBC Nikko on the $3 billion global offering of common stock of ANA Holdings (holding company of the largest airline in Japan) in the midst of the COVID-19 outbreak. He also advised Goldman Sachs and other managers on $4.3 billion accelerated book-built offering (ABO) of Yahoo Japan’s stock by Altaba in 2018 as well a
China fines Alibaba, Tencent unit under anti-monopoly laws freemalaysiatoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freemalaysiatoday.com Daily Mail and Mail on Sunday newspapers.
China fines Alibaba and Tencent unit
HEIGHTENED SCRUTINY: The penalties come after Beijing last month drafted new rules for curbing anti-competitive behavior, spurring fears of a broad crackdown
Bloomberg
China’s antitrust watchdog fined Alibaba Group Holding Ltd (阿里巴巴) and a Tencent Holdings Ltd (騰訊) unit over a pair of years-old acquisitions and said it is reviewing an impending Tencent-led merger, signaling Beijing’s intention to tighten oversight of Internet sector deals.
The Chinese State Administration for Market Regulation yesterday said it is reviewing the combination of DouYu International Holdings Ltd (鬥魚網絡科技) with Huya Inc (虎牙), which could create a Chinese game-streaming leader akin to Amazon.com Inc’s Twitch.