Qatari firms among top 500 on Forbes Arab list

 20 Jun 2014 - 2:39

DOHA: Several Qatari companies figure in the Forbes Middle East’s ‘Top 500 companies in the Arab World 2014’ list.
In the banking sector, QNB is in the top spot in terms of revenues ($5.4bn), assets ($121.8bn), profits ($2.6bn) and market value ($37.1bn). Qatar registered nine entries out of 101 banks included in the ranking.
Qatar Electricity and Water Company — QEWC— tops the list of 36 services companies and takes 66th position.
In the industries sector, Industries Qatar has bagged the top position for the second time, with a market value of $31.3bn.
Morocco’s Wafa Assurance is ranked 1st with assets of $3.6bn, profits of $95.8m and market value of $1.4bn, followed by Qatar Insurance and General Insurance (both from Qatar) 2nd and 3rd, respectively. 
In the retail sphere, top honours go to Qatar Fuel, which boasted revenues of $3.5bn and market value of $4.4bn last year. Overall, Qatar holds four entries on the list.
Though only 15 telecom companies are on the list,  the top 10 include Saudi Telecom, Etisalat and Ooredoo. Second in terms of total assets and market value is Qatar’s Nakilat with $8.4bn and $3.1bn, respectively. 
The UAE and Bahrain are also among 11 countries on the list. With financial performance as of December 2013 as the reference point, the companies’ combined revenues stand at $383.67bn and net profits at $71.68bn equating to year-on-year increase of 12 percent and 16.2 percent, respectively, while total assets grew 19 percent to $2.64trn. The Peninsula