TOP 10 COMPANIES IN THE UAE

TOP 10 COMPANIES IN THE UAE

TOP 10 COMPANIES IN THE UAE

UAE equity markets, both Dubai and Abu Dhabi, remained resilient to the fall in the Crude Oil price in 1-H of Y  2016. The Dubai General Index and Abu Dhabi General Index registered YTD returns of 6.5% and 1.9% respectively.

The better performance of telecom, banking and real estate stocks in UAE markets has been the major boosting factor to the country’s stock indices.

Consolidation of the banking industry with the merger of 2 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 increased buying in the markets.

Apart from banks, the financial services, telecommunications and construction sectors registered increases in earnings of 6.5%, 16.4% and 32.4% respectively in 1-H of Y 2016 Y-Y.

The UAE has been implementing policy changes, such as the reduction of fuel subsidies to rationalise government expenditure and the implemention of taxes to boost government’s revenue.

Further cuts to water and energy subsidies are expected, as well as the introduction of Value Added Tax (VAT) in Y 2018. To bridge its budget gap, the UAE resorted to bond issuances in Ys’ 2015 and 2016.

The UAE’s concerted efforts towards economic diversification, Dubai’s image as the financial hub and business friendly environment in the region and possible consolidation in the banking sector have all bolstered investor confidence.

TOP 10 COMPANIES IN THE UAE

By market capitalisation as of 9 October 2016 according to the data

1. Emirates Telecommunications Group Co (Etisalat)

Market capitalisation: $47.22-B
Sector: Telecommunications Services

2. First Gulf Bank

Market capitalisation: $13.85-B
Sector: Banking & Investment Services

3. Emaar Properties

Market capitalisation: $13.45-B
Sector: Real Estate

4. National Bank of Abu Dhabi

Market capitalisation: $12.34-B
Sector: Banking & Investment Services

5. Emirates NBD

Market capitalisation: $12.26-B
Sector: Banking & Investment Services

6. Abu Dhabi Commercial Bank

Market capitalisation: $9.72-B
Sector: Banking & Investment Services

7. Emaar Malls Group

Market capitalisation: $9.21-B
Sector: Retail

8. Emirates Integrated Telecommunications Company (du)

Market capitalisation: $7.84-B
Sector: Telecommunications Services

9. Dubai Islamic Bank

Market capitalisation: $6.93-B
Sector: Banking & Investment Services

10. Aldar Properties

Market capitalisation: $5.61-B
Sector: Real Estate

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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