VOL. XL

No. 30

28-July-1997

GENERAL

Competition Stimulates Regional Stock Markets

The inclusion of Egypt, Morocco and Israel in the International Finance Corporation'sInvestable Index (IFCI) in early November (when the index is due for its annualrebalancing) should give a further boost to activity on Arab stock exchanges. About $7.5bnin passively-managed funds tracks the performance of the IFCI and when the three countriesare added they will attract flows comparable to their weighting in the...