Forbes Middle East recognised Qatar’s top 40 listed companies in a ceremony titled ‘Celebrating Qatar’s Success’ held on Monday at St Regis Doha.
The event lauded the efforts of these companies and government initiatives on a path of diversification.
The event lauded the efforts of these companies and government initiatives on a path of diversification.
In Forbes Middle East’s first Qatar special edition, QNB, the largest listed company in the Arab world in terms of assets, topped the list. The 40 companies, nine of which are from the banking and financial services sector, have total sales of $40.8bn, net income of $12.2bn, total assets of $411.4bn, and $147bn market value.
According to Forbes Middle East, the companies in the list “are achieving success and strengthening the status of the country’s economy, making it one of the strongest economies in the world.”
Forbes Middle East editor-in-chief Khuloud al-Omian at the ceremony.
The ceremony was held in partnership and under the patronage of the Ministry of Economy and Commerce and was represented by Business Development and Investment Promotion director Abdulbaset al-Ajji.
Forbes Middle East editor-in-chief Khuloud al-Omian said: “Under the wise leadership of HH the Emir Sheikh Tamim bin Hamad al-Thani, Qatar is witnessing a comprehensive economic renaissance. We are proud to announce the very first list of the top companies in Qatar, which is part of our continuous efforts to promote economic growth across the Arab world.”
The 40 Qatari listed companies were ranked on four metrics: sales, net profits, assets, and market value. Each company received four separate scores based on where it ranked in each metric. Loss-making companies got zero score in the net profits metric. All the scores were equally weighted to reach a composite score and thus rankings were structured.
The companies were from 13 different sectors, with banks and financial services sector dominating the list with nine companies, followed by diversified and insurance with five companies each.
Aside from QNB, Ooredoo, Industries Qatar, Qatar Islamic Bank, and Commercial Bank are included in the top five spots. Market value and currency conversions were as of April 6, 2016 and excerpts from audited financial statements of the year 2015 were incorporated.
The exclusive event hosted leaders from various sectors, business heads in the public and private sector, and diplomats from across the Arab region.
Forbes Middle East was supported by valued partners, including the Ministry of Economy & Commerce as the main partner, St Regis Doha as hospitality partner, UAE-based property development company Danube Properties as support partner, venture and growth capital platform 360 Nautica as industry partner, Gulf Times as English print partner, and Arabic daily newspaper Al-Raya as the media partner. The event was managed by Tarteeb Media.
According to Forbes Middle East, the companies in the list “are achieving success and strengthening the status of the country’s economy, making it one of the strongest economies in the world.”
Forbes Middle East editor-in-chief Khuloud al-Omian at the ceremony.
The ceremony was held in partnership and under the patronage of the Ministry of Economy and Commerce and was represented by Business Development and Investment Promotion director Abdulbaset al-Ajji.
Forbes Middle East editor-in-chief Khuloud al-Omian said: “Under the wise leadership of HH the Emir Sheikh Tamim bin Hamad al-Thani, Qatar is witnessing a comprehensive economic renaissance. We are proud to announce the very first list of the top companies in Qatar, which is part of our continuous efforts to promote economic growth across the Arab world.”
The 40 Qatari listed companies were ranked on four metrics: sales, net profits, assets, and market value. Each company received four separate scores based on where it ranked in each metric. Loss-making companies got zero score in the net profits metric. All the scores were equally weighted to reach a composite score and thus rankings were structured.
The companies were from 13 different sectors, with banks and financial services sector dominating the list with nine companies, followed by diversified and insurance with five companies each.
Aside from QNB, Ooredoo, Industries Qatar, Qatar Islamic Bank, and Commercial Bank are included in the top five spots. Market value and currency conversions were as of April 6, 2016 and excerpts from audited financial statements of the year 2015 were incorporated.
The exclusive event hosted leaders from various sectors, business heads in the public and private sector, and diplomats from across the Arab region.
Forbes Middle East was supported by valued partners, including the Ministry of Economy & Commerce as the main partner, St Regis Doha as hospitality partner, UAE-based property development company Danube Properties as support partner, venture and growth capital platform 360 Nautica as industry partner, Gulf Times as English print partner, and Arabic daily newspaper Al-Raya as the media partner. The event was managed by Tarteeb Media.
