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Politics : Formerly About Advanced Micro Devices
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To: American Spirit who wrote (278296)3/5/2006 3:47:52 AM
From: Elroy  Read Replies (1) of 1577029
 
S&P unveils new indices to meet growing demand in GCC



Dubai: Standard and Poor's yesterday announced daily index publications for each of the six GCC states and released a GCC Composite Index along with three new domestic indices for Kuwait, Qatar and UAE. The move is in response to rapidly growing investment flows into the GCC and increasing demand from local and international investors for indices that can serve both as performance benchmarks and as the basis for investable products. It marks the completion by Standard & Poor's, the leading provider of independent investment research, ratings and indices, of its GCC coverage in the S&P/IFCG family of Emerging Market Data Base Indices. The total market capitalisation of the six GCC member markets is now over $1 trillion. With corporate transparency and disclosure improving substantially in the region and GCC markets attracting growing interest from regional and global investors the GCC index achieved a total return of 114 per cent in 2005, outperforming many emerging markets worldwide. Eudald Canadell, Managing Director, Index Services, at Standard & Poor's, commented: "The GCC Composite is launched as part of our continuous programme to enhance our emerging market investment tools. Standard & Poor's EMDB Indices were the first to focus on the Arab states, combining countries with similar social and economic drivers under one organisation and one portfolio. This, in tandem with our most recent initiatives taken in Russia with RTS and in China with CITIC Securities, cements Standard & Poor's position as the leading provider of global emerging market indices".
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