DOHA: Hydrocarbons-rich Qatar’s 16 companies were listed in the Forbes Middle East magazine’s Top 500 Companies in the Arab World, with three state-backed companies appearing in the list of top 20 including Qatar National Bank (QNB), Ooredoo and Industries Qatar.
Forbes distributed prizes to the winning companies at a ceremony held recently in Abu Dhabi under the patronage of Minister of Culture, Youth and Social Development Sheikh Nahyan Mubarak Al Nahyan in the presence of President of Arab Publisher House Nasser bin Aqeel Al Tayyar, which publishes the Arabic version of Forbes magazine.
According to the list QNB ranked fourth with a market of $25.7bn, by the end of 2012. Saudi Arabia’s SABIC and Etisalat ranked first and second respectively, while Etisalat of UAE occupied the third position in the list.
Qatar’s telecom giant Ooredoo stood at the seventh position with a market capitalisation of $10bn, revenues of $9.3bn, profits of $800m and assets of $25.9bn, while Industries Qatar ranked 10th in the list with a market capitalisation of $26.5bn, revenues of $5.1bn, profits of $2.3bn and assets of $11bn. Rest of the Qatari companies that found places in the list: Kahramaa, Aamal, Qatar Insurance, Nakilat, Milaha, Gulf Warehousing, Woqod, Salam International, Zad Holding, Al Meera, Barwa Real Estate and Ezdan Holding.
The Peninsula
