{"id":47,"date":"2016-12-08T14:55:46","date_gmt":"2016-12-08T14:55:46","guid":{"rendered":"https:\/\/crenov8.com\/blog\/?p=47"},"modified":"2019-08-14T14:59:55","modified_gmt":"2019-08-14T14:59:55","slug":"top-10-companies-in-the-uae-in-2016","status":"publish","type":"post","link":"https:\/\/crenov8.com\/blog\/top-10-companies-in-the-uae-in-2016\/","title":{"rendered":"Top 10 companies in the UAE in 2016."},"content":{"rendered":"

UAE equity markets, both Dubai and Abu Dhabi, remained resilient to the fall in the oil price in H1 2016. The Dubai General Index and Abu Dhabi General Index registered year-to-date returns of 6.5 percent and 1.9 percent respectively.<\/p>\n

The better performance of telecom, banking and real estate stocks in UAE markets have been the major boosting factor to the country\u2019s indices.<\/p>\n

Consolidation of the banking industry with the merger of two major banks, National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) and speculation of more consolidation in the banking industry has led to a buying splurge in the markets.<\/p>\n

Apart from banks, the financial services, telecommunications, and construction sectors registered increases in earnings of 6.5 percent, 16.4 percent, and 32.4 percent respectively in H1 2016 (YoY).<\/p>\n

The UAE has also been implementing policy changes, such as the reduction of fuel subsidies to rationalise government expenditure and the implementation of taxes to boost the government\u2019s revenue.<\/p>\n

Further cuts to water and energy subsidies are expected, as well as the introduction of Value Added Tax (VAT) in 2018. To bridge its budget gap, the UAE has resorted to bond issuances in 2015 and 2016.<\/p>\n

Overall, the UAE\u2019s concerted efforts towards economic diversification, Dubai\u2019s image as the financial hub and business-friendly environment in the region and possible consolidation in the banking sector have all bolstered investor confidence.<\/p>\n

TOP 10 COMPANIES IN THE UAE<\/h3>\n

(By market capitalisation as of October 9, 2016. Source: Reuters Eikon, Markaz Research)<\/em><\/p>\n

1. Emirates Telecommunications Group Co (Etisalat)<\/strong><\/p>\n

Market capitalisation: $47.24bn
\nSector: Telecommunications Services<\/p>\n

2. First Gulf Bank\u00a0<\/strong><\/p>\n

Market capitalisation: $13.85bn
\nSector: Banking & Investment Services<\/p>\n

3. Emaar Properties<\/strong><\/p>\n

Market capitalisation: $13.45bn
\nSector: Real Estate<\/p>\n

4. National Bank of Abu Dhabi<\/strong><\/p>\n

Market capitalisation: $12.34bn
\nSector: Banking & Investment Services<\/p>\n

5. Emirates NBD\u00a0<\/strong><\/p>\n

Market capitalisation: $12.26bn
\nSector: Banking & Investment Services<\/p>\n

6. Abu Dhabi Commercial Bank\u00a0<\/strong><\/p>\n

Market capitalisation: $9.72bn
\nSector: Banking & Investment Services<\/p>\n

7. Emaar Malls Group\u00a0<\/strong><\/p>\n

Market capitalisation: $9.21bn
\nSector: Retail<\/p>\n

8. Emirates Integrated Telecommunications Company (du)<\/strong><\/p>\n

Market capitalisation: $7.84bn
\nSector: Telecommunications Services<\/p>\n

9. Dubai Islamic Bank\u00a0<\/strong><\/p>\n

Market capitalisation: $6.93bn
\nSector: Banking & Investment Services<\/p>\n

10. Aldar Properties<\/strong><\/p>\n

Market capitalisation: $5.61bn
\nSector: Real Estate<\/p>\n

Article Source: Gulf Business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

UAE equity markets, both Dubai and Abu Dhabi, remained resilient to the fall in the oil price in H1 2016. The Dubai General Index and Abu Dhabi General Index registered year-to-date returns of 6.5 percent and 1.9 percent respectively. The better performance of telecom, banking and real estate stocks in UAE markets have been the […]<\/p>\n","protected":false},"author":1,"featured_media":48,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[32,33,34,35,36,37,38,39,40,41,42,43],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n\t\n\t\n