India ratified its first major overhaul of company law in more than 50 years on Thursday, seeking to strengthen accounting standards and shareholder rights in a country where many businesses are family-controlled.
A long-awaited law to allow further foreign ownership of companies in the United Arab Emirates (UAE) is unlikely to be passed in 2012, a senior government official said.
A new UAE companies law, meant to liberalise the country'
Bahrain Industry and Commerce Minister Dr Hassan Fakhro chaired a meeting of the panel in charge of facilitating procedures and transactions in Bahrain's industrial and commercial sectors and held discussions on several key issues.
The UAE ministry of economy said it plans to develop new laws as part of modernising the legislative system and enhancing the business environment in line with the emirates' strategic vision for 2021.
The new laws will cover foreign in
The United Arab Emirates will introduce a new company law in six months which will allow majority foreign ownership in some sectors, the country's Minister of Economy said on Wednesday.
"It will be ready within six months," Sultan bin Saae