In its semi-annual review issued Tuesday, index compiler MSCI announced several changes to the Middle Eastern components of its emerging market index.

In respect to the Egypt Small Caps Index, MSCI removed Telecom Egypt and replaced Maridive & Oil Services with Sidi Kerir Petrochemicals.  

Moving to the Gulf, Emaar Malls was added to the UAE index, while both Ezdan Holding and Qatar Insurance were added to the Qatar index.

In terms of weight, MSCI increased Abu Dhabi Commercial Bank's in the UAE index from 15.3% to 18.6% and that of Doha Bank in the Qatar index from 3% to 4.8%.  

Commercial International Bank’s weighting in the Egypt index was raised from 69.9% to 72.1%.