DFM managing director and CEO Essa Kazim reacted to the decision of MSCI to upgrade the ranking of the UAE to ’emerging markets’ status, a notch up from the lower ranking of ‘frontier markets’, by saying: “This development is overdue in light of the market infrastructure improvements made and ticking of all upgrade requirements long time ago”.
The decision is seen as significant as the ratings dictate where many foreign firms park their money. Qatar was also upgraded to ’emerging markets’…
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