Egypt's PM inspects restoration work at Ramses Exchange after fire    Egypt, Pakistan boost healthcare ties – Cabinet    Egyptian pound stable in July 9 morning trading    Egypt's electricity, public enterprises ministers discuss expanding renewables in energy-intensive industries    Escalation in Gaza as ceasefire talks remain fragile amid mounting humanitarian crisis    Egyptian authorities race to contain fallout from fatal telecom fire    UK, Egypt strengthen cooperation on green transition, eco-tourism, and environmental investments    CPME shareholders approve EGP 2.8bn acquisition of Qardy, Catalyst Partners Holding    Philippines' unemployment rate falls in May '25    Egypt, Somalia leaders discuss strategic partnership, counterterrorism in New Alamein    Egypt, UNDP discuss expanded cooperation on medical waste management, human development    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM, Uruguay's president discuss Gaza, trade at BRICS summit    Egypt, Uruguay eager to expand trade across key sectors    Egypt, Norway hold informal talks ahead of global plastic treaty negotiations    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Global tour for Korean 'K-Comics' launches in Cairo with 'Hellbound' exhibition    Egypt teams up with private sector to boost university rankings    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Standard & Poors reviewing UAE, Qatar, Jordan for upgrade
Regrading to an emerging market status could mean a boost of foreign fund inflows for the three Mideast countries currently classified as 'frontier'
Reuters Published in Ahram Online on 12 - 07 - 2011

The United Arab Emirates, Qatar and Jordan is under review for a potential upgrade to an emerging market status by Standard & Poors, an executive said, a coveted status seen boosting foreign fund inflows to the region.
The Gulf countries are currently classified as "frontier" by most index compilers due to restrictions on foreign ownership limits, low liquidity and prospects of further developing trading and settlement systems in the bourses.
Last month, influential index complier MSCI extended a review on whether to upgrade Qatar and the UAE to emerging market status to December, saying it would allow market participants more time to give their feedback on new systems introduced by the Gulf states.
"The consultations are currently ongoing and we aim to reach a decision by the first-quarter of 2012," Charbel Azzi, S&P Indices Head of Client Coverage for Middle East and Africa told Reuters.
"Obviously, we know that UAE and Qatar have been contenders for the emerging market status."
S&P is currently in talks with institutional investors and other market participants and will conclude its consultation process by 26 August, the executive said. It will then pass on the feedback to its index committee who will then make a decision whether to upgrade or not, the executive said.
An upgrade to emerging market will force fund managers who benchmark to the emerging market index to allocate funds to the region, thereby increasing liquidity and putting the region in the radar of global investors.
Many asset managers in the Middle East North Africa (MENA) region switched to Standard & Poor's indices last year in the wake of MSCI's move to drop Saudi Arabian stocks from its compilation after a dispute with the bourse.
The UAE was classified as an emerging market for the first time by index provider FTSE Group last year.

Clic here to read the story from its source.