By: Mahmoud Gamal

Dubai – Mubasher: The semi-annual review of the MSCI Emerging Market (EM) index revealed the addition of three companies listed on the Dubai Financial Market (DFM), along with removing four firms from the index.

The amendments will be applied as of 30 November, according to MSCI’s statement on Wednesday.

The firms which were added to the MSCI EM Small Cap Index comprised the Dubai Financial Market Company (DFM Company), Dubai Investments, and Union Properties.

On the other hand, the index compiler removed Agthia Group, Amlak Finance, Drake and Scull International, and Waha Capital from the MSCI EM Small Cap Index, the statement added.

Foreign investments

The Securities and Commodities Authority (SCA) is keen on the index compiler MSCI’s inclusion decisions as the upgrade attracts foreign investments, MindCraft Consultants’ CEO Fadi Al Ghattis told Mubasher.

The DFM Company, Dubai Investments, and Union Properties are forecast to attract overseas liquidity, Al Ghattis added.

Over the previous four sessions, the stock markets have been affected by the decrease in global bourses and the decline in oil prices, he noted.

Translated by: Mohammad Hesham Azab