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08 February 2021
BRI - View from MENA
Na­tions across the Middle East and North Africa have been keen to par­ti­cip­ate in China’s Belt and Road Ini­ti­at­ive. Rail­ways, ports, roads, power pro­jects and even smart cit­ies have all seen sig­ni­fic­ant Chinese in­vest­ment. The re­gion forms an im­port­ant part of China’s trade route jig­saw, with the Gulf in par­tic­u­lar a stra­tegic cross­roads, while its oil and LNG re­main cru­cial to ful­filling China’s en­ergy re­quire­ments. The Belt and Road Ini­ti­at­ive has been hit first by geo­pol­it­ic­al ten­sions and then by the pan­dem­ic. But, as our new re­ports shows, China’s pivot to­wards a more sus­tain­able Belt and Road, with more em­phas­is on green­er pro­jects and the Di­git­al and Health Silk Roads, has re­newed its po­ten­tial to help MENA na­tions meet their in­fra­struc­ture and de­vel­op­ment needs, as well as of­fer­ing many new op­por­tun­it­ies for re­gion­al busi­nesses and in­vestors.  
31 July 2020
An­nu­al Re­view 2019 – 2020
We are liv­ing in tur­bu­lent times, char­ac­ter­ised by polit­ic­al, cli­mate and health crises. The most acute of these – the COV­ID-19 pan­dem­ic – has clearly shown how in­ter­con­nec­ted our eco­nom­ies are: travel, com­merce and sup­ply chains world­wide have been im­pacted. No in­di­vidu­al or busi­ness has re­mained totally un­af­fected by it.As a glob­al or­gan­isa­tion, with a pres­ence in key busi­ness hubs around the world, we are wit­ness­ing the im­pact of the pan­dem­ic firsthand. Our teams in Asia, Europe, Africa and Lat­in Amer­ica are help­ing cli­ents deal with this un­pre­ced­en­ted situ­ation. Un­fold­ing in dif­fer­ent in­tens­it­ies in dif­fer­ent parts of the world at dif­fer­ent times, our teams are in the for­tu­nate po­s­i­tion of be­ing able to con­nect with and learn from each oth­er. This en­ables us to sup­port our cli­ents in a mean­ing­ful way, listen­ing to and un­der­stand­ing their con­cerns and provid­ing them with busi­ness-rel­ev­ant ad­vice that draws on in­sights from our ex­perts world­wide.In this crisis, we, as a so­ci­ety, are at a cross­roads. What is cer­tain is that for in­di­vidu­als and busi­nesses (ours in­cluded) there will be no ‘back to busi­ness as usu­al’. Things need to (and will) change. How we shape the ‘new nor­mal’ is up to us. In this An­nu­al Re­view, we look at some key de­vel­op­ments that are in­creas­ingly im­pact­ing busi­ness suc­cess. Com­pan­ies need to take these in­to con­sid­er­a­tion when ad­apt­ing their op­er­a­tions to the new busi­ness en­vir­on­ment.The months ahead will be chal­len­ging for us all. Busi­nesses will need to think stra­tegic­ally and po­s­i­tion them­selves for suc­cess in the new nor­mal. We at CMS see it as our task to guide our cli­ents through this chan­ging busi­ness land­scape.Mat­thi­as Licht­blau (Ex­ec­ut­ive Dir­ect­or) Pierre-Sé­bas­tien Thill (Chair­man) Duncan We­st­on (Ex­ec­ut­ive Part­ner) CMS Ex­ec­ut­ive Team
29 July 2020
CMS En­ergy & Cli­mate Change Glob­al Ex­per­i­ence
With more than 450 en­ergy and cli­mate change law­yers, in­clud­ing over 100 part­ners, the CMS En­ergy and Cli­mate Change prac­tice is one of the largest of its kind in the world. Led from its Lon­don centre of ex­cel­lence, the prac­tice works across 75 of­fices glob­ally.CMS teams now work in every corner of the sec­tor across the globe to help it meet the de­mands of cli­mate change, tech­no­lo­gic­al dis­rup­tion, urb­an­isa­tion in de­vel­op­ing eco­nom­ies, so­cial con­cerns and polit­ic­al agen­das.Be­low you will find some of our ex­per­i­ence across the globe. Please get in touch with our ex­perts in your jur­is­dic­tion.Please also see our Hot Top­ics for the En­ergy Trans­ition pub­lic­a­tion.
29 July 2020
Hot Top­ics for the En­ergy Trans­ition
With more than 450 en­ergy and cli­mate change law­yers, in­clud­ing over 100 part­ners, the CMS En­ergy and Cli­mate Change prac­tice is one of the largest of its kind in the world. Led from its centres of ex­cel­lence such as Lon­don and Ab­er­deen, the prac­tice works across 75 of­fices glob­ally.Our early work in design­ing and im­ple­ment­ing mod­ern en­ergy mar­kets and sub­sequently guid­ing the sec­tor in the push to de­car­bon­isa­tion means CMS is not only a trans­ac­tion­al or pro­ject ad­viser to the sec­tor, but uniquely placed to help shape its present and fu­ture. We can help by giv­ing you our ad­vice and com­pre­hens­ive know­ledge on the top­ics lis­ted be­low.Please also see our CMS En­ergy Glob­al Ex­per­i­ence pub­lic­a­tion.
26 November 2019
Bridging Con­tin­ents - In­fra­struc­ture In­dex 2019
The CMS In­fra­struc­ture In­dex ana­lyses data across 50 jur­is­dic­tions against six cri­ter­ia to cre­ate a guide to the most at­tract­ive des­tin­a­tions for in­fra­struc­ture in­vest­ment.In Bridging Con­tin­ents, the 2019 CMS In­fra­struc­ture In­dex, we see that in­fra­struc­ture is con­nect­ing people world­wide at an un­pre­ced­en­ted pace. De­vel­op­ing eco­nom­ies are in­vest­ing heav­ily in roads, rail and air­ports to drive eco­nom­ic growth and bring them closer to in­ter­na­tion­al trad­ing part­ners and the rol­lout of 5G and build­ing of smart cit­ies are cre­at­ing new di­git­al high­ways. Ger­many has taken top spot.  Ger­many’s fo­cus on sus­tain­ab­il­ity and in­nov­a­tion is the driv­ing force be­hind its po­s­i­tion. The coun­try is aim­ing to make cli­mate ac­tion part of the Ger­man na­tion­al iden­tity and sup­port­ing this through a num­ber of off­shore wind pro­jects, con­struc­tion of a fourth elec­tri­city high­way and an ex­tens­ive EV char­ging pro­gramme. The UK’s story is not so pos­it­ive.  We see the UK fall from fourth in 2017 to ninth in 2019.  The Brexit-ef­fect.  There is a steady pipeline in some in­fra­struc­ture sec­tors, for ex­ample rolling stock re­new­als in Eng­land and trans­port in Scot­land.  There is also a shift from primary to sec­ond­ary in­vest­ments. However, un­sur­pris­ingly the polit­ic­al un­cer­tainty has led to delays on flag­ship pro­jects (e.g. HS2 and Heath­row air­port) and a de­crease in lend­ing to UK pro­jects. An­oth­er coun­try to note is China, which has ris­en by 10 points since the 2017 in­dex and is now in 18th po­s­i­tion.  5G is in­stru­ment­al in China’s in­creased rank­ing, due in part to ma­jor cor­por­a­tions such as Hua­wei and ZTE ; over 10 mil­lion ad­vance or­ders for 5G data plans were sub­mit­ted to China’s three mo­bile op­er­at­ors, and they will de­ploy a total of 130,000 stan­dalone 5G base sta­tions across the coun­try by the end of 2019. As the world fo­cuses on cli­mate change and sus­tain­ab­il­ity, we see this trans­fer­ring to the in­fra­struc­ture sec­tor too.  In­fra­struc­ture as­sets have a vi­tal role in cli­mate change mit­ig­a­tion and eco­nom­ic, so­cial and gov­ernance (ESG) cri­ter­ia are an in­creas­ingly pop­u­lar way for in­vestors to eval­u­ate com­pan­ies in which they might want to in­vest.  However, the sec­tor is fa­cing a num­ber of chal­lenges, in­clud­ing lack of gov­ernance, an ab­sence of ob­ject­ive stand­ards and as a res­ult, no reg­u­la­tions on how to re­port and meas­ure per­form­ance.  Reg­u­lat­ors glob­ally are work­ing to cre­ate their own reg­u­la­tions in this area but with each coun­try cre­at­ing its own stand­ards, in­ter­na­tion­al op­er­at­ors will face a com­plex mat­rix of re­quire­ments for dif­fer­ent pro­jects around the world. In this year’s re­port, we see some very strong rep­res­ent­a­tion from the Amer­icas. Lat­in Amer­ica has some mega in­ter­con­nectiv­ity pro­jects, present­ing some ex­cit­ing de­vel­op­ments.  Ex­amples in­clude a 3,500km-long sub­mar­ine fibre op­tic net­work from the north to the south of Chile and the re­cently com­pleted 10,000km sub­sea cable con­nect­ing Cali­for­nia to Chile.  On the oth­er side of the con­tin­ent, Brazil is work­ing on the in­nov­at­ive 9,300km El­laLink sub­sea cable sys­tem bridging between the Amer­ic­an (Brazil) and European con­tin­ents (Por­tugal and Spain).Over­all, the in­fra­struc­ture sec­tor presents a pos­it­ive pic­ture in an un­cer­tain world.  Gov­ern­ments glob­ally are in­vest­ing heav­ily in in­fra­struc­ture as­sets to stim­u­late their eco­nom­ies.  On the flip side, there is sup­ply of cap­it­al as in­vestors look for long-term in­vest­ments.  
06 September 2017
CMS On your radar - Septem­ber 2017
The in­ter­na­tion­al CMS em­ploy­ment group has the pleas­ure of shar­ing the third edi­tion of On Your Radar pub­lic­a­tion con­tain­ing key em­ploy­ment and la­bour up­dates from Europe, Lat­in Amer­ica, Singa­pore and...
22 March 2017
CMS European M&A Study 2017
In geo­pol­it­ic­al terms, there has been noth­ing to com­pare with 2016 since the end of the Cold War. Neither Brexit nor the elec­tion of Pres­id­ent Trump was ex­pec­ted. The po­ten­tial im­pact of either event...
25 January 2017
Emer­ging Europe M&A Re­port 2016/17
We are pleased to present our an­nu­al Emer­ging Europe M&A Re­port, pub­lished by CMS in co­oper­a­tion with EMIS.The 2016/17 edi­tion of the re­port pulls to­geth­er data and lists of the biggest M&A trans­ac­tions...
13/12/2016
Africa Q&A | Part­ner­ships Bul­let­in
PPPs are be­gin­ning to break out of their French co­lo­ni­al past in Fran­co­phone Africa. Jean-Jacques Le­cat, co-head of law firm CMS’s Afric­an team, tells Mar­ina For­moso why it is ex­cit­ing times for the...
29/02/2016
Trans­fer Pri­cing | A stra­tegic ap­proach for glob­al busi­ness per­form­ance
As shown by the re­cent works at G20, OECD, European or UN level, mul­tina­tion­al en­ter­prises (MNEs) have to ad­apt to rap­idly chan­ging leg­al and eco­nom­ic en­vir­on­ments:le­gis­la­tions and prac­tices evolve con­stantly...
15/12/2015
CMS Glob­al Lifes­ci­ences For­um 2015
On 9 Novem­ber 2015, Lifes­ci­ences pro­fes­sion­als from around the world gathered to dis­cuss the in­dustry’s hot­test top­ics at the CMS Glob­al Lifes­ci­ences For­um 2015. In this re­port, we sum­mar­ise the chal­lenges...
19/10/2015
Latest Edi­tion of ‘Trans­mit’ Now Avail­able
The CMS TMC sec­tor group’s pub­lic­a­tion Trans­mit provides an up­date on the latest reg­u­lat­ory and leg­al de­vel­op­ments in the com­mu­nic­a­tions, me­dia and sports in­dus­tries. It in­cludes con­tri­bu­tions from...