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Sunday, July 12th, 2020

Forbes: Total market value of top 100 Arab companies reaches $772 billion in 2017


New York (IINA) – The total market value of the top 100 companies in the Arab world reached $772 billion in April 2017, gaining 12 percent than the previous year.

Saudi Arabia still dominates the list with 36 companies, followed by Qatar and the UAE with 19 and 17 companies respectively, with SABIC (#1) being the biggest company in the Kingdom and the Arab world.

Companies in the Arab region breathed a sigh of relief in 2016, as oil prices picked up again compared to the previous year. As a result, stock markets across the region also began to rise, although some countries are still facing challenges in implementing planned reforms.

Although aggregate net profits decreased by 9.7 percent to reach $52.9 billion, sales and total assets increased by 2.4 percent and 3.8 percent to reach $288.3 billion and $2.7 trillion respectively during 2016, as companies’ operational performance was relatively stable.

About 49 percent are from the banks and financial services sector, which is witnessing a wave of mergers and acquisitions in the UAE, Saudi Arabia, Qatar, Morocco and Egypt. QNB (#2) still holds its position as the top listed bank in the region, closely followed by the fruit of the NBAD and FGB merger, First Abu Dhabi Bank (#3), headquartered in Abu Dhabi, UAE.

The telecommunications and industrial sectors came in the second and third with Etisalat (#5) being the biggest telecommunications company in all metrics and Industries Qatar (#31) the biggest industrial company in the list.

While Egypt holds its share in the top 100 companies in the Arab world list with three companies, as the Egyptian stock exchange (EGX 30) gained 75 percent, making it the biggest gainer in the Arab world.

Global Telecom Holding (#33) was the top gainer in the list and Americana was excluded from this year’s list as the company is on its way to delist from the stock market.

This year we welcome ten new entrants: Omantel (#71), National Bank of Bahrain (#83), LafargeHolcim Maroc (#89), Elsewedy Electric (#92), Emaar The Economic City (#94), Saudi Ground Services (#94), Advanced Petrochemical Company (#97), BBK (#98), National Bank of Oman (#99) and Mannai Corporation (#100).

To rank the top 100 companies in the Arab world, we measured four metrics: market value, sales, net profits and total assets. Market value and currency conversions are as of April 6, 2017.

Source: International Islamic News Agency