+ A
A -
Satyendra Pathak
Doha
The total assets of top 40 listed Qatari companies have reached $411.4 billion, Forbes Middle East has said in its first special edition for Qatar.
The first Qatar special edition, which ranks the top 40 listed companies in Qatar, also revealed that total sales of these companies have reached $40.8 billion. Their net income is $12.2 billion and market value is worth $147 billion, it said.
Forbes Middle East has ranked Qatar National Bank (QNB) as the biggest bank in the Middle East by assets, and the biggest company in Qatar. Ooredoo, Industries Qatar, Qatar Islamic Bank and Commercial Bank of Qatar hold the top five spots in Forbes ranking.
At an exclusive event to recognise Qatar's top companies in 2017 in Doha, Forbes Middle East Editor-in-Chief Khuloud al Omian lauded the efforts of these companies and government initiatives to diversify the economy.
"The companies on the list are achieving success and strengthening the status of the country's economy, making it one of the strongest economies in the world," Omian said.
She added,"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.
Lossmaking companies got zero score in the net profits metric. All the scores were equally weighted to reach a composite score and thus the rankings were structured.
These companies are 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.
Held in partnership with the Ministry of Economy and Commerce, the exclusive event hosted leaders from various sectors, business heads in the public and private sectors and diplomats from across the Arab region.
In one of the interviews published in M-E Qatar edition, Qatar Financial Centre CEO Yousuf Mohamed al Jaida has said that the country received FDI worth QR70.9 billion in 2015 alone, raising its stock FDI to QR541.8 billion.
