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In this issue:

Philip Morris v. Uruguay: Will investor-state arbitration send restrictions on tobacco marketing up in smoke?; Australia's rejection of investor-state dispute settlement: Four potential contributing factors; Investment arbitration and the Canada-EU Comprehensive Economic and Trade Agreement: Time for a change?; Foreign investment contracts and sustainable development: The new foundations begin to emerge; Federalism and international investment disputes; European Parliament calls for reform of European investment policy, but EU member states insist on the status quo; News in Brief, Awards and Decisions, Publications and Events.