Arab Today, arab today msci resumes saudi coverage
Last Updated : GMT 19:51:29
Arab Today, arab today
Arab Today, arab today

MSCI resumes Saudi coverage

Arab Today, arab today

Arab Today, arab today MSCI resumes Saudi coverage

Dubai - Bloomberg

MSCI, a New York-based index-provider, said yesterday it would reintroduce the MSCI Saudi Arabia Domestic Indices and related regional indexes in June. The index provider said in 2009 it would remove the country\'s shares from its Gulf and Arabian equity indexes because of a dispute with the exchange over the licensing of information from the bourse. MSCI Inc.\'s move to resume coverage of Saudi shares in standalone indexes could pave the way for emerging-market status should the exchange open to foreign investors, Schroder Investment Management Ltd. and Citigroup Inc. said. \"This is a very positive development and a step in the right direction for a potential inclusion into the MSCI Emerging Markets Index, once the market opens up for foreign investments,\" Rami Sidani, the Dubai-based head of Middle East and North Africa investments at Schroder Investment Management, whose parent company oversees about $291 billion, said in a telephone interview. The Capital Market Authority in Saudi Arabia, the world\'s top oil exporter and home to the biggest stock market in the Arabian Gulf, said in January it will allow overseas companies to list securities on the bourse. The decision helped fuel speculation the kingdom is taking steps to open up its exchange to foreign, non-regional investors, who currently can\'t directly invest. Investors are seeking access to Saudi Arabia as the government of the largest Arab economy pursues more than $500 billion of spending to build real estate, infrastructure and industry. Among companies trading on the Saudi bourse are Saudi Basic Industries Corp., the world\'s biggest petrochemicals company, and Kingdom Holding Co., the investment company controlled by billionaire Prince Al Waleed Bin Talal. Manuel Rensink, MSCI\'s head of Middle East and North Africa, didn\'t answer two calls to his mobile phone and calls to the company\'s office in New York weren\'t answered. Saudi Arabia\'s Tadawul All Share Index has returned 18 per cent this year, the second-best performer in the Arabian Gulf after Dubai and compared with a 12 per cent gain in the MSCI Emerging Markets Index. The Saudi measure slipped 0.2 per cent to 7,545.28 in Riyadh yesterday. The country is the latest in the six-nation Gulf Cooperation Council to move closer to gaining the emerging-markets designation at MSCI, which helps exchanges lure investors because fund managers buy their shares to mirror MSCI\'s indexes. Qatar and the UAE are up for review in June after MSCI in Dec-ember delayed for a second time in 2011 a decision on whether to upgrade the two nations to emerging-market status. Six of the GCC\'s seven bourses are classified as frontier markets by MSCI, a designation for countries with an average stock-market value of about $30 billion, 94 per cent less than in emerging nations, according to data compiled by Bloomberg. \"Almost any way you look at it, Saudi belongs in emerging markets\" should foreign ownership restrictions be removed, said Andrew Howell, a London-based strategist for frontier and emerging European markets at Citigroup. \"There is no doubt that the market has been anticipating to some degree that Saudi will be opening more.\" Saudi Arabia will only open its stock exchange to foreign investors in a \"gradual\" process and after concluding there will be no negative impact on trading, the official Saudi Press Agency reported in March, citing the market regulator\'s Chairman Abdul Rahman Al Tuwaijri. \"Saudi Arabia from an economic and company perspective offers a lot of attractive features, so it\'s something we would be recommending to clients to follow closely and look to add exposure when and if it becomes possible,\" Howell said.

arabstoday
arabstoday

GMT 16:08 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 04:42 2017 Saturday ,14 October

Egyptian Bourse gains EGP 2.6 bn

GMT 04:32 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 20:52 2017 Thursday ,12 October

Egyptian Bourse loses EGP 3 bn

GMT 13:12 2017 Thursday ,12 October

Bahrain Bourse daily performance

GMT 11:06 2017 Thursday ,12 October

Wall Street ends at fresh records; Spanish stocks gain

GMT 21:13 2017 Wednesday ,11 October

Bahrain Bourse daily trading report (update)
Arab Today, arab today
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 msci resumes saudi coverage Arab Today, arab today msci resumes saudi coverage

 



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 msci resumes saudi coverage Arab Today, arab today msci resumes saudi coverage

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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