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Oct 21, 2011

Daily Legal and Business News from Asia (10/21/2011 Weekly News)

  • Singapore Joint Law Venture program was launched about a decade ago.  It is, overall, recognized as a failure. In 2008, when foreign law firms were allowed to practice law in Singapore under the Qualifying Foreign Law Practices program, it was the predictable end of the Joint Law Venture program. But it seems that this prediction was false, as we are now seeing new joint law ventures.  Will these last? “Singapore Joint Ventures Make a Comeback,”
  • As the Decree on Advertisement of 2011 was proven ineffective, the Vietnamese government is now working on a Bill on Advertisement. However, according to most local politicians believe  the Bill needs to be revised to be effective. The advertisement industry is quickly developing in Vietnam, but many politicians want tougher regulations and punishment for violators of privacy rights. “Lawmakers question draft advertising law,” Look at Vietnam.
  • After the censorship of internet and blogs' content, China is now extending its policy to TV programs. “Match-making” game shows and even dance broadcasts are, now, banned from Chinese TV and will be replaced by more "moral" programs. “China orders cutback on entertainment from TV,” The China Post.
  • India's cabinet has approved a policy aiming to develop the national manufacturing industry. The policy is planning to create 100 millions jobs in the next ten years, to train the rural population in order for them to apply for these jobs, to create special economic zones and to improve the government bureaucracy. “India cabinet approves manufacturing push,” BBC News South Asia.
    • Europe agreed on last Thursday 27the to recapitalize its banks. However, as it can not provide all the cash needed for this operation, Europe is looking to China.  “Why China Should Bail Out Europe,” The New York Times.