# data[].attributes.headline
Why did Bahrain make the New Labour Law (36) of 2012?

# data[].attributes.subject
Why did Bahrain make the New Labour Law (36) of 2012?

# data[].attributes.attachment_link.description
on july 26 2012 the king of the kingdom of bahrain issued a new labour law no 36 of 2012 replacing the old labour law no 23 of 1976 the new law has been aligned with several arab and international labour treaties and conventions to which bahrain is a ...

# data[].attributes.body
Law (36) of 2012

# data[].attributes.headline
Ch4. Types of Business Organizations in Bahrain

# data[].attributes.subject
Ch4. Types of Business Organizations in Bahrain

# data[].attributes.attachment_link.title
Types of Business Organizations in Bahrain.pdf

# data[].attributes.body
According to Law (21) of 2001

# data[].attributes.body
Law (21) of 2001

# data[].attributes.attachment_link.title
What is DURESS? What does DURESS mean? DURESS meaning, definition & explanation

# data[].attributes.attachment_link.title
Void, Valid and Voidable.  Know the difference for your real estate exam!

# data[].attributes.headline
Ch2. Branches of Government  (USA Example)

# data[].attributes.subject
Ch2. Branches of Government  (USA Example)

# data[].attributes.attachment_link.readable_text
London Office +44 (0) 207478 2500

For many countries, a parliament building often provides the focal point for moments of celebration and remembrance. These buildings are often the most famous in the entire country and many appear on bank notes, imprinted into a nation's psyche or ingrained within a country's persona. Not only do these government buildings play a large role in the political life of the country, but they are historical monuments too, providing an illustration of the country's heritage. Here is our run down of some of the best buildings.
Reichstag Building, Berlin
The Reichstag was opened in 1894, and the contemporary yet vintage building, has become one of the most famous tourist attractions in Germany, mainly because of the glass dome which gives you a spectacular view of the city. The dome's vast central glass cylinder is one of its most impressive features, designed to reflect natural light into the plenary chamber. It was severely damaged in 1933, when it was set on fire and after WWII, it fell into disuse. It wasn't until after German reunification in 1990, that it went under full reconstruction by architect Norman Foster, who modernised the building, and it is now one of the most visited buildings in the country.

Image source : https://en.wikipedia.org/wiki/Reichstag_building#/media/File:Reichstag_building_Berlin_view_from_west_before_sunset.jpg Hungarian Parliament Building, Budapest
Completed in 1904, the Hungarian Parliament building is a landmark of Hungary, and one of the largest buildings in the country, as well as one of Europe's oldest legislative buildings. It was completed as a part of the independence of Hungary from Austria. The Hungarians held a competition for the architectural design, in order to always have a monument as a symbol of their independence, and Imre Steindl emerged as the winner. The building is in a 'Gothic revival' style, with a symmetrical façade There are 90 statues on the façade and 40kg of 23-carat gold was used to design the interior. Due to its extensive surface, it requires a lot of maintenance, so the building is almost always under renovation.
Image source: https://en.wikipedia.org/wiki/Hungarian_Parliament_Building#/media/File:HUN-2015-Budapest-Hungarian_Parliament_(Budapest)_2015-01.jpg Palace of Parliament, Bucharest
Bucharest's Palace of Parliament is the second largest administrative building in the world, after The Pentagon. The building was designed by architect Anca Petrescu, who won a contest for its construction, which was completed in 1997. The building currently holds two world records: it's the most expensively managed parliament building, and also the heaviest building in the world. It was constructed from 700,000 tonnes of steel and bronze, combined with various other materials, including wood and marble. The cost of heating and electric lighting alone exceeds $6 million a year so the environmental impact of this is a subject for debate.
US Capitol Building, Washington D.C.
The Capitol is the main place of meeting of the US Congress. It was completed in 1800 and it's built in a distinctive neoclassical style. It was designed by William Thornton, who won the design competition for the Capitol, proposed by Thomas Jefferson. Thornton was inspired by the east front of the Louvre and the Paris Pantheon, for the centre portion of his design. There are many interesting aspects about the Capitol building, such as it having its own subway which carries politicians from House and Senate Office buildings to the Capitol.

Image source: https://en.wikipedia.org/wiki/United_States_Capitol#/media/File:US_Capitol_west_side.JPG Palace of Westminster, London
Commonly referred to as the Houses of Parliament, the Palace of Westminster is an iconic landmark of London, and one of the most popular tourist attractions in the city. It was originally built during the middle ages, but it was mostly destroyed in a fire in 1834. The present Palace of Westminster we all know today was rebuilt between 1840 and 1870, by architects Sir Charles Berry and Augustus Pugin. However, interior decoration continued well into the 20 th century. The building was built in the perpendicular Gothic style, which is a style characterised by an emphasis on vertical lines. The building has been listed as a World Heritage Site since 1987.

Image source: https://en.wikipedia.org/wiki/Palace_of_Westminster#/media/File:Parliament_at_Sunset.JPG
There are many other stunning parliament buildings around the world, such as the Binnenhof in the Netherlands, and the Secretariat Building in New Delhi. Most of these buildings are in a traditional, and classical gothic style. But there are plenty of modern parliament buildings, such as the Scottish Parliament Building, which opened in 2004. It was listed as Scotland's fourth greatest modern building in Prospect magazine. Also, the city of Canberra is home to the Australian Parliament building. It was the successor to Old Parliament House and it has become the focal point of Canberra. Ultimately, parliament buildings are a national symbol and an intrinsic part of a country's history.

Are there any parliament buildings you particularly love that you think deserve a place on this list? If so, let us known in the comment section.
If you are interested in discussing any construction or real estate roles available or any hiring requirements, please contact your nearest Cobalt office. You might also be interested in: Top Five Best Planned Cities on the Planet Building the Future: The most futuristic buildings in the world.

This entry was posted on Wednesday, February 15th 2017 and is filed under Construction & Engineering. You can subscribe to our RSS 2.0 news feed here.

Our offices

Abu Dhabi +971 (0) 4 704 6111

Auckland +64 9 303 9093

Berlin +49 (0)30 5 7700 5110

Christchurch +64 3 366 8724

Dubai +971 (0) 4 704 6111

Dusseldorf +49 (0)211 93 6727 30

Frankfurt +49 (0)69 3 4877 4472

Hamburg +49 (0)40 22 868 44 90

London +44 (0) 20 7478 2500

Manchester +44 (0) 16 1457 0105

Munich +49 (0)89 215 4767 80

Singapore +65 6800 7922

Stuttgart +49 (0)711 219 540 30

Vienna +43 (0)1 226 7226

Wellington + 64 4 499 0004

Awards

# data[].attributes.attachment_link.title
5 of The Best Parliament Buildings - Cobalt

# data[].attributes.attachment_link.description
London Office +44 (0) 207478 2500 For many countries, a parliament building often provides the focal point for moments of celebration and remembrance. These buildings are often the most famous in the entire country and many appear on bank notes, imprinted into a nation's psyche or ingrained within a country's persona.

# data[].attributes.attachment_link.readable_text
Dear Bruce,

What's the difference between ethics and business ethics?

Jen

---

Dear Jen,

Thank you for your question. Ethics is ethics. I once asked an eighth-grade class in Bronxville, New York, "What group of people do you think about when you hear the phrase, Do No Harm?."

"Hippies," said one student.

"Vegetarians," said another.

"Police officers," said the teacher.

Yes, it certainly does apply to hippies, vegetarians, and police officers. It also applies to everyone else.

The principles of ethics that help us solve ethical dilemmas in everyday life are the same principles that provide guidance in business, health care, law, and education:

1. Do No Harm

2. Make Things Better

3. Respect Others

4. Be Fair

5. Care

Generally speaking, for example, it's wrong to lie. That applies in every kind of relationship there is: friend/friend, manager/direct report, physician/patient, attorney/client, teacher/student.

Telling the truth is a crucial way we show respect for people.
Are There Exceptions?
There are some exceptions to the rule, "Tell the truth." The obligation to be truthful doesn't always mean you have to tell the truth, the whole truth, and nothing but the truth.

For example, suppose a friend or client gives you a fruitcake for the holidays. You take it home, take one bite, and feel a wave of disgust come over you.

The next day, the giver asks, "What did you think about the fruitcake?" Telling him or her, "It was the worst thing I ever put in my mouth and I threw it away," would be true but hurtful and might even put a dent in your relationship.

A more ethically appropriate response would be: "It was incredible!," or "I've never tasted anything like it," or best of all, "It sure was nice of you to give me a fruitcake." After all, the stakes are low, and the friend or client probably doesn't want to know the truth in the first place. The question, "What did you think about my fruitcake?" in most cases really means, "Don't you think it was nice of me to give you a gift?"
Role-Specific Duties
There are some ethical obligations we have, in virtue of our jobs, that don't apply to others.

For example, suppose your company requires you to report violations of the code of conduct to the ethics hotline or your supervisor. One of the rules in the code is to keep confidential things confidential.

One afternoon you overhear two colleagues discussing confidential information in line at a coffee shop. You are ethically required to do something rather than nothing, and in this case that means reporting the violation to the hotline or your boss.

But then suppose you're at the same coffee shop on another day and overhear two physicians discussing a patient. They mention the patient's full name and that the patient just had a cardiac bypass. It's disturbing to hear this-imagine if you were the patient being discussed in public-but you don't have an ethical obligation to call the hospital's ethics hotline because you don't work there.

It might be honorable of you to share your concerns about patient confidentiality with the physicians privately, but you could hardly be faulted if you chose to mind your own business and continue playing Scrabble on your iPhone while you wait to order a coffee.

During an ethics workshop I gave to members of the South Carolina National Guard, I presented a similar scenario to the group: observing a violation of confidentiality. A member of the guard raised his hand and said, "Sir, this isn't an ethical dilemma for us. If we don't report it to our Commanding Officer, we could be thrown out of the guard."

It's a lot easier to know what to do what the rules are clear. But too often they aren't. Hence we have columns like this to humbly offer some guidance.

NOTE: The principles I mentioned above are based on a book called Principles of Biomedical Ethics by Tom L. Beauchamp and James F. Childress (Oxford University Press). In that book, they appear in a slightly different form (e.g., the do-no-harm principle is presented there as the principle of nonmaleficence). I've just simplified the principles and suggested that they apply in every kind of relationship, professional and personal.

# data[].attributes.attachment_link.title
What's The Difference Between Ethics And Business Ethics?

# data[].attributes.attachment_link.description
Dear Bruce, What's the difference between ethics and business ethics? Jen --- Dear Jen, Thank you for your question. Ethics is ethics. I once asked an eighth-grade class in Bronxville, New York, "What group of people do you think about when you hear the phrase, Do No Harm?." "Hippies," said one student.

# data[].attributes.attachment_link.readable_text
There are quite a few different market structures that can characterize an economy. However, if you are just getting started with this topic, you may want to look at the four basic types of market structures first: perfect competition, monopolistic competition, oligopoly, and monopoly. Each of them has its own set of characteristics and assumptions, which in turn affect the decision making of firms and the profits they can make.

It is important to note that not all of these market structures exist in reality; some of them are just theoretical constructs. Nevertheless, they are critical because they help us understand how competing firms make decisions. With that said, let's look at the four market structures in more detail.

1. Perfect Competition

Perfect competition describes a market structure, where a large number of small firms compete against each other. In this scenario, a single firm does not have any significant market power. As a result, the industry as a whole produces the socially optimal level of output, because none of the firms can influence market prices.

The idea of perfect competition builds on several assumptions: (1) all firms maximize profits (2) there is free entry and exit to the market, (3) all firms sell entirely identical (i.e., homogenous) goods, (4) there are no consumer preferences. By looking at those assumptions, it becomes obvious that we will hardly ever find perfect competition in reality. That is an essential aspect because it is the only market structure that can (theoretically) result in a socially optimal level of output.

Probably the best example of a market with an almost perfect competition we can find in reality is the stock market. If you are looking for more information on perfect competition, you can also check our post on perfect competition vs. imperfect competition.

2. Monopolistic Competition

Monopolistic competition also refers to a market structure, where a large number of small firms compete against each other. However, unlike in perfect competition, the firms in monopolistic competition sell similar but slightly differentiated products. That gives them a certain degree of market power, which allows them to charge higher prices within a specific range.

Monopolistic competition builds on the following assumptions: (1) all firms maximize profits (2) there is free entry, and exit to the market, (3) firms sell differentiated products (4) consumers may prefer one product over the other. Now, those assumptions are a bit closer to reality than the ones we looked at in perfect competition. However, this market structure no longer results in a socially optimal level of output because the firms have more power and can influence market prices to a certain degree.

An example of monopolistic competition is the market for cereals. There is a vast number of different brands (e.g., Cap'n Crunch, Lucky Charms, Froot Loops, Apple Jacks). Most of them probably taste slightly different, but at the end of the day, they are all breakfast cereals.

3. Oligopoly

An oligopoly describes a market structure that is dominated by only a small number of firms. That results in a state of limited competition. The firms can either compete against each other or collaborate (see also Cournot vs. Bertrand Competition). By doing so, they can use their collective market power to drive up prices and earn more profit.

The oligopolistic market structure builds on the following assumptions: (1) all firms maximize profits, (2) oligopolies can set prices, (3) barriers to entry and exit exist in the market, (4) products may be homogenous or differentiated, and (5) only a few firms dominate the market. Unfortunately, it is not clearly defined what a "few firms" means precisely. As a rule of thumb, we say that an oligopoly typically consists of about 3-5 dominant firms.

To give an example of an oligopoly, let's look at the market for gaming consoles. This market is dominated by three powerful companies: Microsoft, Sony, and Nintendo. That leaves all of them with a significant amount of market power.

4. Monopoly

A monopoly refers to a market structure where a single firm controls the entire market. In this scenario, the firm has the highest level of market power, as consumers do not have any alternatives. As a result, monopolies often reduce output to increase prices and earn more profit.

The following assumptions are made when we talk about monopolies: (1) the monopolist maximizes profit, (2) it can set the price, (3) there are high barriers to entry and exit, (4) there is only one firm that dominates the entire market.

From the perspective of society, most monopolies are not desirable because they result in lower outputs and higher prices compared to competitive markets. Therefore, they are often regulated by the government. An example of a real-life monopoly could be Monsanto. This company trademarks about 80% of all corn harvested in the US, which gives it a high level of market power. You can find additional information about monopolies in our post on monopoly power.

Summary

There are four basic types of market structures: perfect competition, imperfect competition, oligopoly, and monopoly. Perfect competition describes a market structure, where a large number of small firms compete against each other with homogenous products. Meanwhile, monopolistic competition refers to a market structure, where a large number of small firms compete against each other with differentiated products. An Oligopoly describes a market structure where a small number of firms compete against each other. And last but not least, a monopoly refers to a market structure where a single firm controls the entire market.

# data[].attributes.attachment_link.title
The Four Types of Market Structures - Quickonomics

# data[].attributes.attachment_link.description
There are quite a few different market structures that can characterize an economy. However, if you are just getting started with this topic, you may want to look at the four basic types of market structures first: perfect competition, monopolistic competition, oligopoly, and monopoly.

# data[].attributes.attachment_link.readable_text
Environmental protection is a large concern in the government's regulation of businesses.

factory image by Zbigniew Nowak from Fotolia.com

The U.S. government has set many business regulations in place to protect employees' rights, protect the environment and hold corporations accountable for the amount of power they have in this business-driven society. Some of these regulations stand out more significantly than the others because of their relevance to every U.S. employee and consumer.

Advertising

Laws pertaining to marketing and advertising set in motion by the Federal Trade Commission exist to protect consumers and keep companies honest about their products, according to Business.gov. Every business in the country is required to comply with the truth-in-advertising laws and could face lawsuits for violation.

Truth-in-advertising laws are made up of dozens of tidbits under three main requirements: advertising in the United States must be truthful and non-misleading; businesses need to be able to back up claims made in advertisements at any time; and advertisements must be fair to competitors and consumers. Additionally, in compliance with the Fair Packaging and Labeling Act of 1966, all product labels must include information about the product, such as nutrition, size, and distribution and manufacturing information.

Employment and Labor

Among the ever-changing regulations in business are employment laws. These laws pertain to minimum wages, benefits, safety and health compliance, work for non-U.S. citizens, working conditions, equal opportunity employment, and privacy regulations--and cover the largest area of subjects of all the business regulations. Several employment regulations stand out as the heavy hitters among the others.

The 1938 Fair Labor Standards Act, applied by the Wage and Hour Division, is still in effect today and was last updated in 2017. It covers setting the national minimum wage, overtime, record keeping and child labor laws that cover employees in the private sector as well as federal, state and local governments.

The Employee Retirement Income Security Act ensures that employees receive the retirement plan options and health care benefits to which they are entitled as full-time employees. There are also several required benefits, including unemployment insurance, Workers' Compensation Insurance and employee Social Security assistance.

The Immigration and Nationality Act ensures that only U.S. citizens and individuals with work visas can be hired, and every business must keep on file I-9 eligibility forms for applicable employees.

Environmental Impact

The carbon footprint and the effect of businesses on the environment is regulated by the Environmental Protection Agency alongside state agencies. The EPA enforces environmental laws passed by the federal government through educational resources, frequent inspections and local agency accountability.

The Environmental Compliance Assistance Guide exists to help businesses--small and large alike--achieve environmental compliance, and serves as an educational resource more than an enforcer.

Privacy Protection

Sensitive information is usually collected from employees and customers during hiring and business transactions, and privacy laws prevent businesses from disclosing this information freely. Information collected can include social security number, address, name, health conditions, credit card and bank numbers and personal history. Not only do various laws exist to keep businesses from spreading this information, but people can sue companies for disclosing sensitive information.

The Federal Trade Commission monitors business practices and charges or fines companies that violate the privacy promises they made to consumers. For example, when a company promises not to use their information in ways other than what is stated, or shares their private information without consent, or monitors customers' online, mobile and/or television habits without informing them in advance, the FTC charges them publicly with such offenses, levies hefty fines and forces the business to change their unethical practices.

Safety and Health

The Safety and Health Act of 1970 ensures that employers provide safe and sanitary work environments through frequent inspections and a grading scale. A company must meet specific standards in order to stay in business. This regulation has changed frequently throughout the years alongside the changing sanitary and workplace standards.

In accordance with the 1970 act, employers must provide hazard-free workplaces, avoiding employee physical harm and death, through a number of procedures.

Three organizations oversee workplace health and safety:

Occupational Safety and Health Administration (OSHA)

Mine Safety and Health Administration (MSHA)

Wage and Hour Division (rules for employee children under age 18)

# data[].attributes.attachment_link.title
Five Areas of Government Regulation of Business

# data[].attributes.attachment_link.description
The U.S. government has set many business regulations in place to protect employees' rights, protect the environment and hold corporations accountable for the amount of power they have in this business-driven society. Some of these regulations stand out more significantly than the others because of their relevance to ...