The decision on a potential upgrading of the Abu Dhabi, Dubai and Doha bourses to emerging market status in the MSCI index has been delayed for six months to allow for the assessment of a new UAE settlement system, hastily introduced just in advance of the deadline.
But Qatar’s bid appears dead because the economy is too tightly owned by the state, with not more than 25 per cent of listed companies’ stock available for foreign ownership, compared with an upper limit of 49 per cent in the UAE.
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