Arab Today, arab today uae and qatar await bourse ruling
Last Updated : GMT 10:32:01
Arab Today, arab today
Arab Today, arab today

UAE and Qatar await bourse ruling

Arab Today, arab today

Arab Today, arab today UAE and Qatar await bourse ruling

Abu Dhabi - Arabstoday

The UAE and Qatar will learn whether they have done enough to secure an inclusion in the MSCI Emerging Markets Index by tomorrow morning, with investors braced for another let-down.The two countries, currently rated frontier markets, are hoping to enter the MSCI index, considered the A-list of economies likely to grow rapidly over the next decade. The two have failed four times since 2009 to secure a reclassification, expected to bring billions of dollars of inflows from passive funds tracking MSCI\'s indexes. The index provider is due to release the results of its market classification review at 1am local time tomorrow. But members of the Financial Services Association (UAE) were holding out little hope for an upgrade for the Emirates, largely because of \"glitches\" in the market infrastructure, said Arwa Hamdieh, the co-founder of the industry body. \"The perception among market players is that the upgrade most likely might not take place at this review due to unresolved issues related to the delivery-versus-payment (DvP) system and limits on foreign ownership which haven\'t been revised yet,\" she said. The system ensures that securities are delivered at the same time as payment is received. Lack of testing of market infrastructure sank the UAE\'s chances of an upgrade last June after a rushed implementation of the DvP settlement system. Significant concerns remained over the system, particularly in the case of failed trades, MSCI said at the time of its latest review in December. While MSCI said the implementation of draft market laws enabling securities borrowing and lending could resolve those issues, the UAE\'s Securities and Commodities Authority said in March it was unlikely to implement these regulations until later this year. Volumes were tepid ahead of a decision that has sparked frenzied trading activity in the past. The average value of stocks traded daily on the Dubai Financial Market General Index was US$28.1 million (Dh103.2m) during the past month of trading, compared with $41.9m in the month preceding MSCI\'s announcement last June. Countries eligible for an upgrading must have at least three companies with a minimum market capitalisation of $873m, \"good and tested\" operational framework and a \"significant\" ease of capital movement and access to foreign investors. Last month MSCI said the UAE, Qatar and Kuwait met its requirements for minimum size and liquidity. Regular assessments of the UAE\'s market regulations had helped the Emirates\' exchanges to better assess their flaws but meeting the criteria for an MSCI upgrade should not be pursued to the exclusion of other market reforms, Ms Hamdieh added. \"The results desired from this upgrade could be significantly enhanced by improving the current offering and listing rules among the local exchanges by aligning them closer to international best practice,\" she said. The MSCI Emerging Market Index, which tracks stocks in fast-growing economies including Brazil, Russia and China, tracks some $3.2 trillion worth of global equities. South Korea and Taiwan are also seeking market reclassification from emerging to developed market status.from the national.

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 uae and qatar await bourse ruling Arab Today, arab today uae and qatar await bourse ruling

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 11:50 2017 Wednesday ,22 February

Most Asia markets up as Hong Kong rebounds

GMT 20:52 2017 Tuesday ,21 February

Asia stocks consolidate recent gains; China shines

GMT 10:37 2017 Tuesday ,21 February

Most Asia markets up as rally presses ahead

GMT 05:34 2017 Tuesday ,21 February

7 firms to list on 2nd Saudi stock board

GMT 19:53 2017 Monday ,20 February

Large stocks fall pushing down Nairobi bourse

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
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