Market upgrades to boost financial and corporate governance

by Domluke Da Silva for Gulf News

Dubai: In June this year a five-year journey for the UAE and Qatar culminated with their upgrading to Emerging Markets status from Frontier Markets classification by MSCI. In the run up to the announcement, both the bourses in Dubai and Abu Dhabi as well as the Doha Securities Market rallied significantly on the back of robust economic fundamentals underlying both the UAE and Qatari markets, as well as investors pricing in their expectations for increased funds flows to these markets.

Depending on who you speak to, analysts forecast for the amount of foreign capital expected to be drawn into the two newest members of the Emerging Markets family, range from several hundred million to a couple of billion dollars over the medium to long term. What is not in doubt is that this promotion will have a positive impact in terms of the breadth and liquidity of these markets. Sentiment towards the region as a whole should also improve as foreign investors now look more closely at our home markets. Read more here.

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