Home Contact Advertise
Saturday, 13 September, 2008, 8:47 ( 6:47 GMT )
Editorial/OP-ED




150 Top Companies in the Gulf
30/08/2008 02:46:00
The combined value of the top 150 listed companies in the Gulf Cooperation Council (GCC) went up by US$213 billion in the past one year and, at US$916 billion, is inching towards the US$1 trillion mark, according to a survey conducted for a business magazine.

The Gulf Business Top 150 Listed Companies in the GCC survey found that the region's most valuable listed company remained firmly in the grasp of Saudi Arabia's SABIC with a market capitalisation of US$99 billion.

Saudi Telecom Company (STC), with a market capitalisation of US$34 billion, managed to retain its second position for the fourth consecutive year.

They were followed by Al Rajhi Bank, Etisalat, Industries Qatar, Zain, Kuwait Finance House, National Bank of Kuwait, Emaar Properties and Samba Financial Group.

Saudi Arabian firms continued to dominate the rankings, with 50 -- or one-third -- in the Top 150 list, Gulf Business senior editor Vicky Kapur said in a statement.

With 35 companies, the United Arab Emirates came in second while Oman had the lowest number of companies making it to the list with just five listed companies, he said.

The biggest gainer in this year's rankings was Dubai-based construction and engineering company Arabtec, which scaled 54 positions to secure the 82nd spot.

"The company seemed to benefit from a bulging backlog of projects, and a doubling in achieved profitability," said the head of research at Shuaa Capital and author of the report, Walid Shihabi.

Now in its ninth year, the annual Gulf Business Top 150 Listed Companies in the GCC survey, conducted for the magazine by Shuaa Capital, is considered the most definitive ranking of listed companies in the region.

This year's listing ranks the top 150 companies based on their market capitalisation as of Aug 5, 2008.

The list is contained in the September edition of Gulf Business.
 
More Featured Articles
Libya to Host OPEC Summit in 2012
Libya is to host the OPEC summit for the year 2012 as a result of a decision adopted by the summit on Sunday in Riyadh, Saudi Arabia.OPEC members will also discuss the dollar issue at the Dec. 5 meeting in Abu Dhabi.

ADCB Awarded “The Bank of the Year” in the Middle East
The award received by Abu Dhabi Commercial Bank (ADCB) for its achievements set a clear example to other institutions in the Arab world to do the same with regard to ambitious plans for re-invention, expansion and growth.


COMESA Steps Towards Customs Union
Libya's hard and continued effort to make African countries enter into a meaningful union that can lead the whole continent towards economic development and progress seem to be bring results at least at regional levels.

 

Home | News | Business | Arts - Culture | Sports | Tourism | Editorial OP-ED | Classifieds | Advertising | Sitemap
To the Editor | Reader Opinion | Contact Us | About Us
© 2008 - The Tripoli Post