Compilation of Frontier Market related articles across the web from 16th September 2019 to 22nd September 2019. Last week’s edition can be found here.
The first four articles relate to FTSE Russell’s September 2019 Country-Classification Review
Romania has now been upgraded to “Secondary Emerging Market” status in FTSE Russell’s country-classification after it was added to the Watch List in September 2016. The three companies that will be added to global indicies are Romgaz, Banca Transilvania and BRD Groupe.
Tanzania has been upgraded from “unclassified” to Frontier Market status after passing the five FTSE Quality of Markets criteria, with equities from the African nation to be included in FTSE Frontier Market indexes from September 2020 onwards.
Vietnam will retain its Frontier Market status after missing out on being reclassified to “Secondary Emerging Market” status. As a result, it will remain as the largest constituent in the FTSE Frontier 50 Index (approximately 23% weighting).
Finally, FTSE Russell decided to remove Argentina from the Watch List for a potential upgrade to “Secondary Emerging Market” status after it imposed capital controls earlier this month. The decision to keep Argentina as a Frontier Market is a contrast to rival index provider MSCI’s decision to upgrade it to an Emerging Market earlier this year.
Vietnam’s prime position in the ongoing US-China trade war is beginning to pay dividends after it was announced that foreign direct investment (FDI) inflows into the county exceeded $14bn since the beginning of the year.
Banks in Kenya have spent KSh 6.7 billion shillings on Corporate Social Investment in the last three years.
Protests against the incumbent President in Egypt dragged the market down on Monday and therefore filtered through into the performance of the country-specific tracker: the VanEck Vectors Egypt Index ETF.
A partnership initiative between the Economic Community of West African States (ECOWAS) and the European Union (EU) aided Ghana in exporting EUR 3.1 billion in goods and services to the EU in 2018