Regional equities are likely to receive a $1.1 billion boost in investment inflows with global index provider MSCI’s review in the fourth quarter of this year, EFG Hermes has reported.
MSCI will complete its 2022 semi-annual index review on November 10 that will result in several regional equities being included in its indexes, said EFG Hermes, Egypt's biggest investment bank.
“Liquidity will be tested at the end of September,” said Ahmed Difrawy, director and head of Data and Index at the bank.
“The price cut-off period will be any of the last 10 business days of October, starting from October 18.”
In August, MSCI said that changes announced in November will become effective on December 1.
MSCI gauges are tracked globally by major market players and funds. Any addition of a particular stock to indexes results in flows from investors with trillions of dollars under management, boosting liquidity and, potentially, its value.
In Saudi Arabia — the Arab world’s biggest economy and home to the largest Arab bourse, Tadawul — EFG Hermes expects two additions to the standard index: Nahdi and Arabian Internet and Communications.
“We think the following four names have a chance to be added to the small cap index: Al Dawaa Medical Services, Retal Urban Development, Al Masane Al Kobra Mining and Alamar Foods,” Mr Difrawy said.
“We see one name, Saudi Company for Hardware, at risk of being deleted from the small cap index.”
In the UAE, the Egyptian investment bank expects “three price-dependent candidates for inclusion” in the country’s standard index.
Abu Dhabi-listed Multiply currently barely meets the minimum estimated free float market capitalisation (FFMC) threshold, and any rally and subsequent holding on to its gains before the price cut-off period would generate $170 million in investment flows, EFG Hermes said.
Q Holding currently does not meet the minimum FFMC, but if the stock rallies 18 per cent before the price cut-off, the stock could see $195m of investment inflows.
In the case of Abu Dhabi-based IHC, “a 10 per cent price rally, even when using a 2 per cent free float, would make it eligible for inclusion and see $277m of inflows”, the bank said.
For Emaar Properties, the biggest-listed UAE developer, EFG Hermes has laid out several scenarios in terms of its foreign ownership limits that will decide if the stock will see potential inflows or outflows.
In terms of the UAE small cap index, the bank expects the addition of Sharjah Islamic Bank and Al Seer Marine Supplies, while it expects Dubai-based Shuaa Capital to exit, unless the stock rallies a minimum of 15 per cent before price cut-off period.
In Qatar, EFG Hermes sees inflows mostly reflecting the recent foreign ownership limit changes in Qatar Fuel Company, Qatar International Islamic Bank, Doha Bank and Medicare Group. There could be one possible small cap addition of Investment Holding Group.
In Kuwait, meanwhile, EFG Hermes expects two small cap additions — Salhia Real Estate and Ali Alghanim Sons Automotive.
But in Egypt, it sees Juhayna Food Industries and Cairo Investment and Real Estate as being eliminated from the small cap index, as “they will most probably miss the liquidity screening by the end of September”.
“Cleopatra Hospital is also at risk of being deleted from the small cap index, unless the stock rallies a minimum of 10 per cent before the price cut-off period,” the bank said.
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Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Results
2pm: Handicap (PA) Dh80,000 1,600m; Winner: AF Al Baher, Bernardo Pinheiro (jockey), Ernst Oertel (trainer).
2.30pm: Handicap (TB) Dh100,000 1,600m; Winner: Talento Puma, Xavier Ziani, Salem bin Ghadayer.
3pm: Handicap (TB) Dh90,000 1,950m; Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.
3.30pm: Jebel Ali Stakes Listed (TB) Dh500,000 1,950m; Winner: Mark Of Approval, Patrick Cosgrave, Mahmood Hussain.
4pm: Conditions (TB) Dh125,000 1,400m; Winner: Dead-heat Raakez, Jim Crowley, Nicholas Bachalard/Attribution, Xavier Ziani, Salem bin Ghadayer.
4.30pm: Jebel Ali Sprint (TB) Dh500,000 1,000m; Winner: AlKaraama, Antonio Fresu, Musabah Al Muhairi.
5pm: Handicap (TB) Dh100,000 1,200m; Winner: Wafy, Richard Mullen, Satish Seemar.
5.30pm: Handicap (TB) Dh90,000 1,400m; Winner: Cachao, Tadhg O’Shea, Satish Seemar.
Top 10 most polluted cities
- Bhiwadi, India
- Ghaziabad, India
- Hotan, China
- Delhi, India
- Jaunpur, India
- Faisalabad, Pakistan
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- Bahawalpur, Pakistan
- Peshawar, Pakistan
- Bagpat, India
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
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BUNDESLIGA FIXTURES
Friday (all kick-offs UAE time)
Hertha Berlin v Union Berlin (10.30pm)
Saturday
Freiburg v Werder Bremen (5.30pm)
Paderborn v Hoffenheim (5.30pm)
Wolfsburg v Borussia Dortmund (5.30pm)
Borussia Monchengladbach v Bayer Leverkusen (5.30pm)
Bayern Munich v Eintracht Frankfurt (5.30pm)
Sunday
Schalke v Augsburg (3.30pm)
Mainz v RB Leipzig (5.30pm)
Cologne v Fortuna Dusseldorf (8pm)
UAE currency: the story behind the money in your pockets
And%20Just%20Like%20That...
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UAE currency: the story behind the money in your pockets
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Zayed Sustainability Prize
MATCH INFO
South Africa 66 (Tries: De Allende, Nkosi, Reinach (3), Gelant, Steyn, Brits, Willemse; Cons: Jantjies 8)
Canada 7 (Tries: Heaton; Cons: Nelson)
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
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- Spaces for historical and cultural exploration
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- Specialist robotics and science laboratories
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- Disruption Lab and Research Centre for developing entrepreneurial skills
THE DEALS
Hamilton $60m x 2 = $120m
Vettel $45m x 2 = $90m
Ricciardo $35m x 2 = $70m
Verstappen $55m x 3 = $165m
Leclerc $20m x 2 = $40m
TOTAL $485m
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
