Cairo – Mubasher: Eastern Co has been added to the MSCI Egypt global standard index, replacing EFG Hermes, according to a press release by MSCI Inc.

Meanwhile, EFG Hermes replaced El Sewedy Electric and moved to the small-cap index, MSCI added.

The MSCI Emerging Markets Index currently includes three Egyptian firms: Commercial International Bank Egypt (CIB), Global Telecom, and Eastern Co.

The MSCI EM Index includes 23 countries, accounting for 10% of global markets.

Joining the MSCI Index hinges on liquidity, ease of investment, and transparency. The index includes three Arab markets: Egypt, UAE, and Qatar.