UAE to lift foreign ownership curbs

The UAE is to start allowing 100% foreign ownership of companies in some services from the current 49%, according to Gulf News today.UAE minister of economy Shaikha Lubna Al Qasimi announced the move, which comes in line with WTO recommendations last year when the UAE’s trade policy came under review. The revised companies law will be ready to go to the cabinet by the end of the summer, Shaikha Lubna said.