With the implementation of the new mining law, the government will require foreign shareholders with 100 percent of participating interest in mining companies to sell at least 20 percent of their ownership to the central government, regional government, state enterprises or domestic private companies. The minimum ownership for local partners in all mining firms is set at 20 percent by the new regulation.

Dubai. The Middle East’s largest real-estate developer and a partner in a troubled joint venture for a mega tourism project in Lombok, said the entity created by its merger with three state-controlled competitors will have 13.4 billion dirhams ($3.65 billion) in debt obligations. Emaar shares dropped the most since November on Sunday. The debt will be 7 percent of the entity’s total assets of 194 billion dirhams, Dubai-based Emaar said on Sunday in a statement to the local bourse.