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Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

Aramco, Etisalat top list of GCC’s valuable firms

  • The banking and financial services sector has seen its worth grow much more than other sectors
  • Still, individual companies like Aramco of Saudi Arabia and Etisalat of UAE are by far the most valuable companies in the region

Although the last several months have been hard for listed businesses in the Middle East, yet many have defied the dire predictions to dominate capital markets.

The banking and financial services sector has seen its worth grow much more than other sectors. Leading banks in the GCC have seen their businesses grow, reflected by their soaring market capitalization.

Still, individual companies like Aramco of Saudi Arabia and Etisalat of UAE are by far the most valuable companies in the region.

Aramco has surprised markets with its potential to grow and become the world’s most valuable company. Its market capitalization now stands close to $2 trillion. Growing on the back of  high oil prices, the company posted an almost 82 percent rise in first-quarter net profit this month. The company posted a net income of $39.5 billion for the quarter to March 31 from $21.7 billion a year earlier.