Shares surged yesterday after stock market officials expressed confidence that the country would be upgraded to emerging market status this month.
MSCI, a stock index company, delayed a decision on upgrading the UAE and Qatar in June to monitor progress on areas such as opening up to foreign ownership and upgrading payment systems.
"I'm confident as we have fulfilled all the requirements," Ibrahim Al Zaabi, the deputy chief executive at the Emirates Securities and Commodities Authority (SCA), said yesterday. "We are encouraging companies to open up the limit for foreigners, but it will take time to integrate."
No comments:
Post a Comment