Ap­ple takes full con­trol of its UAE op­er­a­tion

China Daily (Canada) - - BUSINESS -

Ap­ple Inc has been granted an ex­emp­tion from for­eign own­er­ship laws in the United Arab Emi­rates that will al­low it 100 per­cent con­trol of its oper­a­tions in the coun­try. The dis­pen­sa­tion was a con­di­tion for the world’s largest listed com­pany to set up in the coun­try, sources said. Ap­ple is now ex­pected to open its firstMid­dle East store in Dubai this year and then Abu Dhabi af­ter se­cur­ing the priv­i­leges. Un­der lo­cal reg­u­la­tions, all busi­nesses op­er­at­ing in the UAE must be 51 per­cent owned by Emi­ratis or a com­pany wholly owned by them un­less they are based in free-zones.

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