Charbel Azzi, head of the Asia-Pacific, Middle East and Africa region at S&P Dowjones indecies, said the new Dubai financial market index is in line with global requirements.
In an interview with Al-Arabiya, Azzi explained that the new index methodology will lead to a decrease in the relative weight of some companies in the index, such as Emaar Properties, from 20% to 10%.
Azzi added that there are also two companies other than Emaar whose relative weighting in the index will change, and they will concentrate at 10%.
Dubai Financial Market has launched a new public index with the aim of increasing transparency and keeping pace with global best practices.
S&P Dowjones is responsible for calculating the index.
Many changes have been introduced to the Dubai Financial Market Index methodology, including setting the maximum weight of any company included in the index sample to 10% and rebalancing the index on a quarterly basis, as well as a specialized committee independent overseeing the methodology of the index and future amendments and calculation of the index in value basis The market for freely tradable effective shares.
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