“SABIC” Tops Forbes 50 Best Companies' List Devoid of Algerian Enterprises
“Forbes Arabia”, the Dubai-based Arabic edition of the world-renowned business and financial magazine Forbes, will unveil its first-ever listing of the 50 best performing companies in the Arab countries next week, in its forthcoming issue scheduled to hit newsstands on Aug. 20. Twenty-two Saudi companies and 11 companies from the UAE have made the list. Companies from Qatar, Kuwait, Lebanon, Egypt and Jordon have taken the other slots but in the glaring absence from the list of Algerian companies.
-
Companies ranked are all Saudi — Saudi Basic Industries Corporation (SABIC),Saudi Telecom Company and Al Rajhi Bank.
-
- All companies listed in stock markets across 13 Arab countries were eligible to be part of the ranking. To identify 50 best performing companies, Forbes Arabia factored in financial measures pertaining both to operational efficiency and market success.
- “Arab companies are witnessing a major transformation. Privatization and the use of a wider range of financial instruments are also helping to create a sound business environment,” said Forbes Arabia Editor in Chief Dr. Sulaiman Al-Hattlan. “This cream of the crop is not only a ranking by market capitalization, but we have also taken into consideration different operational and financial variables. We hope there are some surprises.” Today, companies in the Arab world face tremendous challenges including globalization, market pressures, technological changes, and regulatory compliance.
-
The research team at Forbes Arabia studied 1,667 publicly traded companies in Arab countries in search of those that consistently performed at their best in the last two years. Eventually, only 50 companies made the final cut. Following is the ranking of 50 top performing listed Arab companies:
- 1. Saudi Basic Industries Corporation (SABIC), 2. Saudi Telecom Company, 3. Al Rajhi Bank, 4. Emaar Properties (UAE), 5. The National Industries Group (Kuwait), 6. Etisalat (UAE), 7. Samba Financial Group, 8. Riyad Bank, 9. SABB, 10. National Bank of Kuwait (Kuwait), 11. Mobile Telecommunications Company (Kuwait), 12. Banque Saudi Fransi, 13. Public Warehousing Company (Kuwait), 14. Saudi Arabian Fertilizers Company, 15. Arab National Bank, 16. Arab Bank Group (Jordan), 17. Qatar National Bank (Qatar), 18. Kuwait Finance House (Kuwait), 19. Savola Group, 20. Saudi Electricity Company, 21. Qatar Telecom (Qatar), 22. Saudi Hollandi Bank, 23. Union National Bank (UAE), 24. Gulf Bank of Kuwait (Kuwait), 25. The Saudi Investment Bank, 26. National Bank of Dubai (UAE), 27. First Gulf Bank (UAE), 28. Bank AlJazira, 29. Doha Bank (Qatar), 30. Yanbu Cement, 31. Wataniya Telecom (NMTC) (Kuwait), 32. Qatar Islamic Bank (Qatar), 33. Southern Province Cement Company, 34. Commercial Bank of Qatar (Qatar), 35. National Bank of Abu Dhabi (UAE), 36. Emirates Bank International (UAE), 37. Abu Dhabi Commercial Bank (UAE), 38. Almarai Company Ltd., 39. Saudi Industrial Investment Group, 40. Qassim Cement Company, 41. Mashreqbank (UAE), 42. Dubai Islamic Bank (UAE), 43. National Industrialization Company, 44. Aseer Trading, Tourism, Manufacturing, Agriculture, Real Estate & Contracting Company, 45. Lebanese Company for the Development and Reconstruction of Beirut Central District (Solider) (Lebanon), 46. Abu Dhabi Islamic Bank (UAE), 47. Orascom Telecom (Egypt), 48. Orascom Construction (Egypt), 49. Makkah Construction & Development Company, and 50. Egypt Telecom (Egypt).