Many investors and stakeholders in the GCC equity markets, in particular the UAE and Qatar, were anxiously awaiting an announcement from MSCI, a global provider of indexes, regarding the status of a possible upgrade to "emerging markets" status from the current "frontier" status.
Last week, MSCI announced consideration for such an upgrade would be extended by six months, allowing interested parties more time to assess recent developments undertaken by the UAE and Qatar exchanges.
The extension was an unusual move by MSCI, where the standard review period has been one year.
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