Mubasher: Saudi Arabia and the UAE have dominated Forbes Middle East's annual ranking of the top 100 listed companies for 2021, with 37 and 20 companies, respectively.
Saudi Arabia has had the most companies on the list, topped by Saudi Arabian Oil Company (Saudi Aramco) which has occupied the first position on the list, according to a press release on Sunday.
The UAE has followed the Kingdom with 20 entries, led by the First Abu Dhabi Bank (FAB) at the fourth position.
Qatar came in third place with 17 entries, led by QNB at the second position.
Hence, Saudi Arabia, the UAE, and Qatar together account for about 75% of the list for the second consecutive year.
As for Egypt, five Egyptian companies were included on the Forbes Middle East's list of top 100 listed companies, led by the Commercial International Bank-Egypt (CIB) at the 24th position.
Forbes Middle East's annual ranking of the top 100 listed companies for 2021 comprises the region's largest, most valuable, and most profitable companies, based on gathered data from listed stock exchanges in the Arab world, alongside the companies' sales, profits, assets, and market value.
The banking and financial services sector topped the 2021 list with 42 companies, down from 46 in 2020, with five banks among the top 10 companies.
Meanwhile, the real estate and construction sector and industrials sector have jointly been placed in the second position with 10 entries each, followed by the telecommunications sector with nine entries.
Due to the coronavirus (COVID-19) pandemic, most firms are not as valuable or profitable as they were a year ago; hence, the aggregate sales and net income of the 100 companies in 2021 recorded $550 billion and $91 billion, respectively.