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Friday, 31 May 2013

Carlyle Group Wins Delaware-Forum Fight Over Kuwait Case - Bloomberg

"Carlyle Group LP (CG) won a Delaware Supreme Court ruling that Delaware, not Kuwait, is the proper place to try an investment-contract case with National Industries Group Holding.
The state’s high court yesterday upheld a judgment by Delaware Chancery Court saying the companies were “sophisticated international organizations” and knew what they were doing when they agreed to Delaware courts as a venue for possible disputes.
“Forum selection clauses have become a vital part of interstate and international commercial agreements,” according to the decision. “The parties agreed that the courts of Delaware meet their standards of neutrality and expertise in commercial litigation.”"

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Volume Spikes in Frontier ETFs as Dubai Stocks Surge

"This is not a misprint: On Thursday, the iShares MSCI Frontier 100 ETF (NYSE: FM ) rose almost 1.5 percent to hit a new all-time high on volume that was over 30 times the daily average.

The iShares MSCI Frontier 100 ETF was not the only frontier markets fund that was home to some unusual volume Thursday.

The WisdomTree Middle East Dividend Fund (NASDAQ: GULF ), a more concentrated regional play than FM, also hit a new 52-week high on volume that was nearly double the daily average. There was at least one obvious catalyst behind the volume spikes in FM and GULF: Stocks listed in Dubai raced to a 54-month high Thursday and the trickle-down effect to select ETFs was palpable."

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