Stock traders and analysts believe UAE and Qatari markets have not done enough to secure a long-awaited upgrade to emerging market status when MSCI completes its latest review next month.
For each of the past three years, the UAE and Qatar have repeatedly tried and failed to secure inclusion to the index in a bid to attract billions of dollars of foreign direct investment controlled by tracker funds and emerging market investors.
The index provider will announce whether or not to reclassify the UAE and Qatar in a review that is due to take place in the middle of next month. An MSCI spokeswoman said the exact timing of the review would be revealed later this month.
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