Search Site

Trends banner

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

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.