Apple takes full control of its UAE operation
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.