Riyadh – Mubasher: MSCI, the US index publisher, has announced removing the stocks of Saudi firms, Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) and Red Sea International Company from its MSCI Saudi Arabia Small Cap Index.

The global market research and index company said the decision, that will be effective by the end of May, came after its half annual review.

MSCI includes three Arab stock exchanges, namely Egypt, Qatar, and the UAE.