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The president of the United Arab Emirates is expected soon to approve a long-awaited new law covering the operations of companies in the country, a step toward attracting fresh foreign investment, the economy minister said Monday.One article contained in a version of the law given preliminary approval last year, would reduce the minimum free float in initial public offers of shares to 30 percent from 55 percent, the ratio that currently applies on the UAE's two main stock exchanges.The UAE expects to attract 8.6 billion euros ($11.9 billion) in foreign direct investment into its non-oil sector in 2014, 20 percent more than last year, Mansouri said.
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