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FTSE Russell Denies Saudi Arabia Entry to Emerging Markets List

  • Saudi Arabia is close to an upgrade, to be assessed in March
  • Neighbor Kuwait was added to the same list on Friday
Riyadh, Saudi Arabia.

Riyadh, Saudi Arabia.

Photographer: Simon Dawson/Bloomberg

Index provider FTSE Russell refrained from adding Saudi Arabia to its index of emerging market countries amid its September country classification annual review. Neighbor Kuwait was added to the list.

FTSE Russell said Saudi Arabia will soon meet criteria to be promoted from unclassified status to a secondary emerging market, according to a statement on Friday. Saudi Arabia will be assessed again in March, it said.