Image: Etisalat's stand at GITEX 2018 in Dubai.
Etisalat has been ranked number two on the Forbes Middle East list of the top 50 public companies in United Arab Emirates.
The ranking is based on four major criteria of total assets, net profits, market capitalisation and revenues.
With its first UAE 100 ranking, Forbes Middle East (ME) recognised 100 companies that have played a key role in making the country the thriving business centre that it is today. The 50 of the biggest companies are listed on the country’s main stock exchanges, and are some of the largest and most valuable companies in the country.
Ahmed Bin Ali, senior vice president of corporate communications at Etisalat, said: “We are honoured to be in the UAE top ranking that recognises Etisalat’s role in the contribution to the growth and development of the country and positioning it as a business hub in the region. This was possible, as we stayed focused on the company’s long-term strategy of making the digital vision a reality to drive stakeholder value. Thanks to both our supportive shareholders and loyal customers for inspiring us to set new global benchmarks and reach new business heights.”
Khuloud Al Amyan, editor-in-chief of Forbes Middle East, said: “UAE today is a preferred regional business hub with over 90% of the companies featuring on the Forbes Global 2000 list basing their regional headquarters in the country. With infrastructure rivaling those from some of the most developed economies, it is also a hub for regional trade.
“The first UAE 100 ranking recognised companies that have played a key role in making the country a thriving business today. Etisalat ranked high on all four criteria playing a critical role in contributing to the progress of the country as well as setting global benchmarks in telecom and technology.”
Forbes Middle East screened all listed companies in Dubai and Abu Dhabi’s stock markets. Companies were ranked based on four criteria, which are mainly total assets, net profits, market capitalisation and revenues.