MSCI keeps Qatar, UAE as frontier markets
Dubai, December 15, 2011
Index provider MSCI on Wednesday maintained Qatar and the UAE as frontier markets, denying for a third time a much-awaited promotion of both Gulf states to emerging markets status.
Both countries remain on review for a possible upgrade as part of MSCI's annual market classification review in 2012, the company said in a statement posted on its website.
MSCI has opted not to upgrade the UAE and Qatar at its reviews in 2009 and 2010. It was expected to make a decision in June this year but postponed it to December 14, partly to allow market players more time to assess new delivery-versus-payment settlement systems, which some of the bourses introduced in 2011. - Reuters