MSCI upgrade could lead to equity diversity in the UAE and Qatar | The National

MSCI upgrade could lead to equity diversity in the UAE and Qatar | The National:



"Much has been made of the forecast millions of dollars of investment that the equity markets of the UAE and Qatar are expected to receive when their stocks are included in MSCI’s emerging market listings from June.



In the latest forecast, EFG-Hermes, the Egyptian investment bank, said that the move would net the UAE exchanges US$538 million and Qatar US$475m.



But aside from the cash, the upgrade of the markets from their previous frontier markets status is also expected to provide an impetus to the economy in other ways.



EFG-Hermes believes the move could help to usher in a new era in local bourses, challenging the dominance of state-owned companies and barriers to foreign ownership of shares."



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