FTSE Group set to upgrade UAE to Emerging Market Status in September 2010 - Business Intelligence Middle East - bi-me.com - News, analysis, reports

FTSE Group, one of the key index providers in the GCC, has announced its intention to upgrade the UAE to Secondary Emerging Status within its Global Equity Index Series.

This will be effective from September 2010. The decision is part of FTSE’s annual Country Classification System, the process by which stock markets are classified as either Developed, Emerging or Frontier status.

As a leading index provider, FTSE has a history of quickly identifying and promoting Frontier and Emerging markets via its Global Equity Index Country Classification program. In September 2009 the Country Classification committee announced that the UAE would be included as Secondary Emerging from September 2010. This committee is formed of market practitioners working at some of the world’s leading Investment Management firms.