Marching on…

March 2010 was “the month of the emerging markets”. Both the Dow Jones Islamic Market Index (DJIM) series and the conventional Dow Jones indexes saw composites from the Middle East and East Asia on the rise.After a humble 2010 debut, the Dow Jones Dubai Financial Market (DFM) Titans 10 Index was boosted by hearing that Dubai’s stateowned conglomerate Dubai World was at an advanced stage in negotiations with its creditors over a restructuring of its $26bn debt. Moreover, the Gulf States have projects worth a gigantic $2.2 trillion in the pipeline, according to Dr Nasser Saidi, chief economist of the Dubai International Financial Centre (DIFC).