Arab Today, arab today sp studies upgrading mideast countries in global equity index
Last Updated : GMT 18:19:32
Arab Today, arab today
Arab Today, arab today

UAE, Qatar, Jordan, Kuwait and Oman may be raised

S&P studies upgrading Mideast countries in Global Equity Index

Arab Today, arab today

Arab Today, arab today S&P studies upgrading Mideast countries in Global Equity Index

Kuwait stock exchange
UAE - Gulf News

Kuwait stock exchange Qatar, Kuwait, Oman and Jordan are under review as is the UAE for a possible upgrade to emerging market status, an S&P document seen by Gulf News shows. Greece looks set to be downgraded to emerging market from developed market status in the country classification for the Standard & Poor's (S&P) Global Equity Index Series in 2012.
The S&P has sought feedback from select asset management firms on countries which are being considered for reclassification. The S&P Global Equity Index Series is divided into three major country classes — developed, emerging, and frontier.
Charbel S. Azzi, S&P Indices' Head of Client Coverage for the Middle East and Africa told Gulf News that the decision on the upgrades and the downgrade will be made during the first quarter of next year.

Great interest
"We have great interest in this region. On an annual basis, we would be reviewing the classification and the criteria for countries that qualify under our minimum requirements," said Azzi.
Qatar is currently classified as a frontier market in all S&P branded indices.
"We are proposing that Qatar be considered an emerging market as it meets all of our quantitative criteria to qualify as an emerging market," the S&P document says.
The highlights for Qatar include dividends and capital gains not being subjected to tax. The Qatar Exchange, a self-regulated entity under the jurisdiction of the Ministry of Business and Trade, is responsible for monitoring all securities market laws and ensuring that entities comply with the rules and regulations.
The Qatar Central Bank acts as the government's agent to exercise monetary policy and monitor the banking system.
The Qatar Financial Market Authority, a new market regulator, has been established. Non-resident foreign investors in aggregate may own up to 25 per cent of a listed company that allows such ownership. There are company-imposed individual ownership limits. With approval, listed companies can increase foreign ownership levels to 100 per cent.

Higher rating
"Qatar currently accounts for approximately 8.89 per cent of the weight in the S&P Frontier BMI. If it is designated an emerging market, its weight will be roughly 0.61 per cent in the S&P Emerging BMI and 0.54 per cent in the S&P/IFCI Composite," S&P said.
Kuwait is currently classified as a frontier market in all S&P branded indices.
"We are proposing that Kuwait be considered an emerging market. Despite meeting the basic criteria for developed market status, Kuwait suffers from uncertainties over market accessibility, investor registration, and tax issues that unnerve investors. Due to this and competitor practice, it is incompatible with our developed market criteria and seems best suited for a possible promotion to emerging market classification," the S&P said.
"Kuwait currently accounts for roughly 15.86 per cent of the weight in the S&P Frontier BMI. If it is designated an emerging market, its weight will be approximately 1.09 per cent in the S&P Emerging BMI and 0.96 per cent in the S&P/IFCI Composite."
Oman is currently classified as a frontier market.
"We are proposing that Oman be considered an emerging market as it meets all of our quantitative criteria to qualify as an emerging market," said the S&P.
With regard to Jordan, S&P said, "...We are proposing that Jordan be considered an emerging market..."
The S&P upgrades could open the floodgates for foreign capital inflows into the region's markets.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sp studies upgrading mideast countries in global equity index Arab Today, arab today sp studies upgrading mideast countries in global equity index

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sp studies upgrading mideast countries in global equity index Arab Today, arab today sp studies upgrading mideast countries in global equity index

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday