Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- QE expects at least nine firms to be on MSCI list  Join our daily free Newsletter

MENAFN - The Peninsula - 04/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) The international index compiler MSCI will announce the names of Qatari companies to be qualified for its Emerging Market list on May 14, 2014. Qatar bourse expects that at least nine local companies will be eligible to get into the list, Rashid bin Ali Al Mansoori (pictured), CEO, Qatar Exchange (QE) has said.

He noted that the MSCI upgrade will help accelerate the inflow of international investors into Qatari market and will enhance the market liquidity and the value of many companies. Qatari companies will gain global recognition by major investment portfolios and global institutional global funds.

Speaking to Qatar News Agency, Al Mansoori said the importance of joining the wide range global index stems from the fact that MSCI is one of the pioneer companies in Global Equity Index.

This new reclassification allows Qatar to be in line with Brazil, Russia, India, China and Turkey in attracting foreign investments.

The upgrading offers an opportunity for a steady increase in the trade volume in the local market for the coming few years, that would help enhance the upwards trend sustained since the beginning of the current year. The bourse is ready to deal with higher trading volumes and is capable of any possible market speculations, including the daily index price fluctuation and managing the daily rise and fall of stock prices.

Al Mansoori said Qatar Exchange has been preparing over the last five years to manage large fund flows and liquidity by finalising its technological infrastructure, trading systems, electronic control systems and legal procedures. The Cabinet's recent approval of a draft law exempting non-Qatari investors from the income tax will boost the inflow of foreign fund to the local market.

The bourse CEO who shared his expectations that several listed companies would raise the bar of foreign investment in their companies in line with the MSCI's aspirations, noted it would help boost these companies' performance and values. "The market is in need of further listings to cope with Qatar's accelerating growth. The number of current listed companies does not really reflect the real strength", he said. The listing of these potential companies will help widen the market base,s he added.

On the delay in the listing of companies like Barwa Bank and Qatar First Bank (QFIB), which claim that they have already completed their listing requirements Al Mansoori, said: "We support the transformation of private and family companies to public joint-stock companies prior to listing them. However, we are not the only body that takes final decision on the listing procedures".

He urged the concerned bodies to facilitate procedures and solve all pending issues hindering the listing of the said companies. Adding new companies to the market is key for the market out performance.

On the listing of the small and medium-sized (SMEs) companies, he said the works are fast progressing with the support of various authorities.

 


The Peninsula




  MENA News Headlines
 Sep 22 2014 - Kuwait make strong start at AsiadArab Times
(MENAFN - Arab Times)  KUWAIT CITY Sept 20 (Agencies): Kuwaiti national teams for volleyball handball and basketball had a powerful start at the 17th Asian Games which officially started two ...

 Sep 22 2014 - West Ham 'inflict' fresh EPL misery on LiverpoolArab Times
(MENAFN - Arab Times) LONDON Sept 20 (AFP): Liverpool suffered a second successive Premier League defeat after losing 3-1 away to West Ham on Saturday. Brendan Rodgers's side had lost 1-0 at home to ...

 Sep 22 2014 - Ronaldo Bale combine for 5 in 8-2 routArab Times
(MENAFN - Arab Times) MADRID Sept 20 (AFP): Cristiano Ronaldo scored a hat-trick as Real Madrid equalled their biggest ever away win in La Liga with a 8-2 thrashing of Deportivo la Coruna on ...

 Sep 22 2014 - N.Korean lifter breaks recordArab Times
(MENAFN - Arab Times) INCHEON South Korea Sept 20 (Agencies): Hosts South Korea were the Asian Games' surprise first-day medal leaders on Saturday but they had to share the limelight with China and ...

 Sep 22 2014 - 'Enjoying the return to music'Arab Times
(MENAFN - Arab Times) NEW YORK Sept 20 (AFP): Releasing a new album near his 80th birthday Leonard Cohen cheekily addresses his age in the very first song intoning 'It's not because I'm old ... I ...

 Sep 22 2014 - QFC Authority Seeks Public View on Rule ChangesQatar News Agency
(MENAFN - QNA) Qatar Financial Centre (QFC) Regulatory Authority has released a consultation paper seeking public comment on proposed rule changes that amend the approved individuals regime (AI ...

 Sep 22 2014 - $88.5 Million Grant from Qatar for 'Recovery, Reconstruction' in DarfurQatar News Agency
(MENAFN - QNA) Qatar signed Monday an agreement at the Permanent Mission of the State of Qatar to the United Nations, to provide a grant of $88.5 million to the United Nations multi-partner trust ...

 Sep 22 2014 - HE the Premier Meets US AmbassadorQatar News Agency
(MENAFN - QNA) HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa Al-Thani met on Monday morning with HE Ambassador of the United States of America to Qatar Dana ...

 Sep 22 2014 - Kyrgyzstan Parliament Speaker Meets Qatari AmbassadorQatar News Agency
(MENAFN - QNA) Kyrgyzstan Parliament Speaker Asylbek Jeenbekov met Monday with Qatari Ambassador to Kyrgyzstan Mohammed Arar Omeer Alramazani Al-Nuaimi. They discussed bilateral relations and the ...

 Sep 22 2014 - CMU Qatar Opens 11th Year With Record 427 StudentsQatar News Agency
(MENAFN - QNA) Carnegie Mellon University in Qatar welcomed 112 new students for the 2014-2015 academic year, growing from an inaugural class of 41 students in 2004 to 427 students from 40 different ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help