The Ministry of Economy said that it has extended compliance with new commercial companies law by one year. The new law is expected to boost capital markets in the UAE because it will lower the minimum requirement for companies to sell shares to the public to 30% of company equity instead of 55%. It also includes measures that will boost corporate governance. The extension was made after companies and various authorities, including the Securities and Commodities Authority and departments of economic developments across the country, said that some businesses have had difficulties in getting various approval to comply with the new law. (The National)