Turkish president says the move is also aimed at increasing the amount of humanitarian aid entering Gaza
mena7 hours ago
Dubai - Led by telecom giant etisalat, 40 publicly-listed companies in the UAE, accounting for a combined net profit estimated at $16.7 billion, rank among the best-performing 200 companies in the Arab region.
Topping the list of super-performers compiled by Forbes Middle East is Saudi Arabia’s SABIC with $50.4 billion in revenue and an asset base of $90.9 billion. Qatar’s QNB takes second place, followed by Etisalat. Last year’s number two, Saudi Telecom, finds itself in fourth place for the 2015 list, followed by Saudi Electricity.
At a Glance... > Saudi Arabia leads the list featuring 59 companies with a combined recent market value of $436.5 billion > Banking and Financial Services sector features 78 companies on the list. > 40 companies from UAE among the top companies with total net profit estimated at $16.7 billion >The total market value of listed Kuwaiti companies estimated at $54.82 billion > Total revenue for companies up by 6.5% valued at $348 billion > Net corporate profits increase by 8.9% to touch $70.7 billion > Total assets of companies increased by 12.8% getting very close to $3 trillion > 19 Egyptian companies and 12 Moroccan companies on the list of top companies > 26 listed companies from Qatar and 8 companies from Bahrain on this year’s list |
Criteria considered when producing the list included total revenues, net earnings, total assets, and market valuation. The latter was based on April 1, 2015 closing prices, Forbes Middle East said.
A total of 10 countries are represented in the list. Together, their combined 2014 revenue stood at $348 billion and net earnings, $70.7 billion.
Wealthy GCC companies dominate the lineup, with the top 10 companies including five entries from Saudi Arabia, four from the UAE, and one from Qatar.
In terms of number of entries, Saudi Arabia dominates not just the top 10, but the overall ranking. Represented by 59 entries on the list, the combined recent market value of this year’s Saudi companies stands at $436.5 billion, with $159 billion in revenue.
The UAE has the second-highest number of entries this year, with third-place Etisalat leading the way. It is followed by the National Bank of Abu Dhabi, Emirates NBD and FGB—all of which appear in the top 10.
Qatar, with 26 companies, finishes up the top three. It is followed, respectively, by Egypt, Kuwait, Morocco, Jordan, Oman, Bahrain and Lebanon.
According to Forbes Middle East, total revenue of companies rose by 6.5 per cent valued at $348 billion while net corporate profits increase by 8.9 per cent to $70.7 billion. Total assets of companies increased by 12.8 per cent getting very close to $3 trillion.
“Low oil prices have made this past year an unpredictable one, but the Top Companies in the Arab World 2015 show that through strong leadership and hard work, no challenge is too great,” said Khuloud Al Omian, Editor-in-Chief, Forbes Middle East.
Similar to the Top Companies in the Arab World 2015 ranking, Saudi Arabia and the UAE lead the way in the Top Private Companies Making an Impact. Some 40 per cent of companies on the 100-strong list are based in Saudi, while 27 per cent call the UAE their home.
Topping the ranking is Kuwait’s Mohammed Abdulmohsin Al-Kharafi & Sons. It is followed by Saudi Binladin Group and the UAE’s Al-Futtaim Group. In fourth and fifth place are Saudi companies Dallah AlBaraka Holding and Zamil Group Holding.
The diversified sector dominates the list, with 64 per cent of entries showing diversified business interests. Retail, the second-most featured sector in the ranking, makes up nine per cent of the list, followed by real estate and construction with eight per cent. — issacjohn@khaleejtimes.com
Turkish president says the move is also aimed at increasing the amount of humanitarian aid entering Gaza
mena7 hours ago
In another case at the same airport, officials apprehended five foreign nationals who tried to smuggle gold worth Rs.24.4 million
asia8 hours ago
More than 2,000 pro-Palestinian protesters arrested in the past two weeks across the US
americas8 hours ago
Fireballs and Smash tied for the lead in the team event at the $25 million 54 hole tournament
sports8 hours ago
The hosts strengthened their chances of securing a slot in the semifinals with a 70-run victory in Abu Dhabi
sports9 hours ago
The group has a presence in five countries and eyes further geographic expansion, especially in India
markets9 hours ago
The severity of the situation gradually eased from Thursday evening, when it receded in the north and east of the country
weather10 hours ago
Cyclone Hidaya is predicted to cause torrential rain, strong winds and powerful and dangerous waves in the flood-ravaged country
africa10 hours ago