Cairo – Mubasher: Eastern Co has been added to the MSCI Egypt global standard index, replacing EFG Hermes, according to a press release by MSCI Inc.
Meanwhile, EFG Hermes replaced El Sewedy Electric and moved to the small-cap index, MSCI added.
The MSCI Emerging Markets Index currently includes three Egyptian firms: Commercial International Bank Egypt (CIB), Global Telecom, and Eastern Co.
The MSCI EM Index includes 23 countries, accounting for 10% of global markets.
Joining the MSCI Index hinges on liquidity, ease of investment, and transparency. The index includes three Arab markets: Egypt, UAE, and Qatar.
