Dubai stocks today declined 1.3 percent, the steepest slide in 6 weeks, after stock exchanges in the UAE and Qatar failed to receive an upgrade from “frontier” to “emerging market” status. MSCI, the Swiss company that creates and tracks the indexes, will review the status again this summer. The failure to upgrade comes as a disappointment to investors whose expectations have buoyed the markets, but the in recent weeks, but the development is not a surprise to experienced market watchers. The major issue facing Qatar is the 25% percent limit placed on foreign ownership (with now apparent changes in the offing). In the case of the UAE as well as Qatar, MSCI said it wanted to see how changes in new delivery-versus-payment (DvP) regulations would work out in the next few months. Under previous regulations there had been concerns about the safety of investor assets in some circumstances.