Turkey and Malaysia next up for promotion



Based on recent investor reaction to the UAE's upgrade to a secondary emerging market, opportunistic types might want to start scouting stocks in Turkey and Malaysia. The two countries were classified as "advanced emerging" markets by FTSE yesterday, an upgrade from their previous status as "secondary emerging" markets. The Czech Republic also received the higher classification. The announcement means stocks from those markets will receive a higher profile within the FTSE Global Equity Index Series, a similar promotion to the one UAE stocks enjoyed this week.

A basket of 21 local shares was included in the FTSE emerging markets index from Monday after the UAE's status was upgraded from "frontier" to "secondary emerging". Investors responded enthusiastically and brokers said the classification marked a new era for local bourses. The Dubai Financial Market and the Abu Dhabi Securities Exchange finished the week with solid gains. Inclusion in the index means fund managers controlling tens of billions of dollars pay closer attention to the shares when making investment decisions.

The UAE's upgrade was first announced last year but only went into effect this month. Likewise, Turkey and Malaysia will not officially change classifications until about this time next year. Elsewhere in the Gulf, Kuwait and Qatar remained classified as "frontier" markets, although Kuwait was included on a watch list of countries to be considered for promotion next year. FTSE classifies equity markets as "developed", "advanced emerging", "secondary emerging" or "frontier" based on the quality and security of the trading environment they provide for international investors. Turkey and Malaysia were upgraded "following significant changes to their regulations and investment procedures," said Mark Makepeace, the chairman of the FTSE Group.

It is less common for countries to be downgraded but Greece now faces that possibility after being placed on the watch list to be possibly classified as an "advanced emerging", market rather than a "developed" one. The UAE will not be considered by FTSE for an upgrade to advanced emerging market until at least 2012. Another index provider, MSCI Barra, still classifies the UAE as a "frontier" market.

breagan@thenational.ae

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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Results

2-15pm: Commercial Bank Of Dubai – Conditions (TB) Dh100,000 (Dirt) 1,400m; Winner: Al Habash, Patrick Cosgrave (jockey), Bhupat Seemar (trainer)

2.45pm: Al Shafar Investment – Handicap (TB) Dh80,000 (D) 1,200m; Winner: Day Approach, Ray Dawson, Ahmad bin Harmash

3.15pm: Dubai Real estate Centre – Handicap (TB) Dh80,000 (D) 1,600m; Winner: Celtic Prince, Richard Mullen, Rashed Bouresly

3.45pm: Jebel Ali Sprint by ARM Holding – Listed (TB) Dh500,000 (D) 1,000m; Winner: Khuzaam, Pat Dobbs, Doug Watson

4.15pm: Shadwell – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Tenbury Wells, Royston Ffrench, Salem bin Ghadayer

4.45pm: Jebel Ali Stakes by ARM Holding – Listed (TB) Dh500,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson

5.15pm: Jebel Ali Racecourse – Handicap (TB) Dh76,000 (D) 1,950m; Winner: Rougher, Pat Dobbs, Doug Watson

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Results
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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Most wanted allegations
  • Benjamin Macann, 32: involvement in cocaine smuggling gang.
  • Jack Mayle, 30: sold drugs from a phone line called the Flavour Quest.
  • Callum Halpin, 27: over the 2018 murder of a rival drug dealer. 
  • Asim Naveed, 29: accused of being the leader of a gang that imported cocaine.
  • Calvin Parris, 32: accused of buying cocaine from Naveed and selling it on.
  • John James Jones, 31: allegedly stabbed two people causing serious injuries.
  • Callum Michael Allan, 23: alleged drug dealing and assaulting an emergency worker.
  • Dean Garforth, 29: part of a crime gang that sold drugs and guns.
  • Joshua Dillon Hendry, 30: accused of trafficking heroin and crack cocain. 
  • Mark Francis Roberts, 28: grievous bodily harm after a bungled attempt to steal a £60,000 watch.
  • James ‘Jamie’ Stevenson, 56: for arson and over the seizure of a tonne of cocaine.
  • Nana Oppong, 41: shot a man eight times in a suspected gangland reprisal attack.