Index compiler MSCI will announce tonight at 2300 GMT whether or not Qatar and United Arab Emirates get an upgrade to the firm’s flagship global emerging market stock index from their current slots in the frontier market index.

If any Qatari or UAE stocks get into the index, they are likely to make up only a small percentage of the benchmark, which has heavy weightings for countries like the BRIC nations and South Korea. But the move would attract investment from the many funds who measure their performance against the index, and might prefer not to deviate too far from it.

Emerging markets may be growing faster than the developed world, but emerging market jobs in the financial sector are still feeling the pinch.

Across all markets, investment banking job cuts total more than 120,000 this year globally, with Citi the most recent to announce cuts.

The likes of Greece and Italy may find it tricky to issue international or domestic debt next year, but Russia and Saudi Arabia are stepping up to the plate.

In a week when investors have become increasingly anxious about political risk in Russia (could the Arab Spring be followed by a Russian Winter?), Russia’s undeterred finance ministry said today the country plans to issue a Eurobond early next year and will pick 3-4 banks to lead the deal in the next few weeks, after 22 banks bid for the opportunity.

If Greece leaves the euro, what will its debt be worth? Maybe 50 percent of face value, maybe 20 percent, or maybe even nothing.

No one much admits to owning Greek debt these days, and the EU summit has done little to make holding it seem like a good idea.

Euro-denominated debt isn’t looking too popular in central Europe these days, with spreads in Hungarian and Polish euro bonds widening over the yields of dollar bonds with the same maturities.

Hungary — and to a lesser extent Poland — have been suffering from their exposure to the economies and banking systems of the euro zone.

As Egypt goes to the polls for a second day, most international investors remain reluctant to enter its markets until there are clearer signs of political stability.

Egyptian stocks bounced today but are still at weaker levels than shortly after the ousting of Hosni Mubarak in February, and debt insurance costs are higher.