Etisalat has been ranked as the world’s strongest telecom brand and the first in the Middle East and Africa region while Abu Dhabi National Oil Co. (Adnoc) maintained its position as the UAE's most valuable brand for the fourth consecutive year.
According to brand valuation consultancy Brand Finance’s latest report released on Wednesday, Adnoc achieved a 19 per cent brand value growth to $12.8 billion (Dh47 billion), the fastest amongst the top 10 oil and gas brands globally. It also holds on to its position as the second most valuable brand in the region after Saudi oil and gas giant Aramco.
Last year, Adnoc announced an increase in its national reserves of four billion stock tank barrels of oil and 16 trillion standard cubic feet of natural gas, as well as a capital expenditure of $127 billion to enable plans to boost its upstream production capacity and downstream portfolio.
Brand Finance said Expo 2020 has offered Etisalat the platform to demonstrate itself as a strategic enabler of the UAE's digital transformation. Etisalat achieved a score of 89.2 out of 100.
“Etisalat’s focus on enhancing customer experience and living the ethos of ‘Together Matters’ has helped the brand in increasing its score by +1.8 points, breaking into the top 20 strongest brands globally, claiming 18th place, as well as making it the strongest telecoms brand globally.”
“Guided by the vision to ‘drive the digital future to empower societies’, Etisalat is the world’s strongest telecoms brand of 2022, as well as retaining its status as the strongest brand in the Middle East and Africa for the second consecutive year. Etisalat’s brand focuses on togetherness and plays its part by providing a first-class telecoms infrastructure across its footprint. The exceptional rollout of 5G technology has also meant that the Etisalat Group’s portfolio of brands is the most valuable amongst telecoms organisations in the Middle East,” said David Haigh, chairman and CEO of Brand Finance.
Dubai’s flagship carrier Emirates has also ranked among the world 500 top brands with a value of $5 billion.
Overall, the UAE punches well above its weight when it comes to Brand Guardianship Index 2022.
Dr Sultan bin Ahmed Al Jaber, managing director and Group CEO of Adnoc; Sheikh Ahmed Bin Saeed Al Maktoum, chairman and CEO of Emirates Airline & Group; and Etisalat’s group CEO Hatem Dowidar are the top scoring leaders in the region.
Regionally, Saudi Aramco has once again been crowned Middle East’s most valuable brand with a brand value of $43.6 billion – a 16 per cent year-on-year increase. The oil major claims 31st rank among the world’s top 500 most valuable brands.
Globally, the entertainment app TikTok has been named the world’s fastest-growing brand, growing by an astounding 215 per cent. Its brand value has increased from $18.7 billion in 2021 to $59.0 billion this year, claiming the 18th spot among the world’s top 500 most valuable brands.
iPhone maker Apple retained the title of the world’s most valuable brand following a 35 per cent increase to $355.1 billion – the highest brand value ever recorded. Apple had a stellar 2021, becoming the first company to reach a $3 trillion market valuation.
According to Brand Finance’s study, the iPhone still accounts for around half of the brand’s sales.
Amazon and Google also saw good levels of growth, both keeping their spots in the Brand Finance Global 500 ranking behind Apple in 2nd and 3rd respectively. Amazon joined Apple in crossing the $300 billion brand value mark with a 38 per cent increase to $350.3 billion. Google saw a similar brand value growth of 38 per cent to $263.4 billion.
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The UAE national Rashid Saeed Al Shehhi, won the grand prize which is in cash, an amount of Dh570,000. Shehab Ahmed Hussein, another UAE national won the second prize of D70,000, while Hamad Ahmed Al Yamahi won the third prize of Dh20,000.