12 UAE firms ranked on Forbes Global 2000 list

Twelve companies from the UAE have got place in The Forbes Global 2000 list of public companies based on their rankings for sales, profits, assets and market value.

Etisalat with sales of $8.7 billion tops the list of the UAE companies and is ranked 449th. National Bank of Abu Dhabi stands at 825 (sales $2.6bn), Emirates NBD at 876 ($4.5bn) while First Gulf Bank holds 962 position ($2.3bn).

Other companies are DP World (1179, $2.9 billion), Taqa (1287, $5.8bn), Emaar Properties (1317, $1.7bn), Union National Bank
(1541, $1.2bn) and Dubai Islamic Bank (1550, $1.4bn).

Saudi Arabia has as many as 15 companies in the list with Saudi Basic Industries standing at 95 with sales at $40.5bn. Qatar had nine
companies, Kuwait five, Bahrain two and Oman one on the list.

JPMorgan Chase retained the first place for the second consecutive year as the world's largest company followed by HSBC, which rose six places powered by a 121 per cent growth in profits in the past fiscal year.  Overall, the Global 2000 companies account for $32 trillion in revenues, $2.4 trillion in profits, $138 trillion in assets and $38trn in market value. These companies employ 80 million people
worldwide.

The Asia-Pacific region continued its lead from last year with 701 companies, including the most additions (11) to the list of the
regions. China became the biggest profit centre, as 121 companies with an aggregate profit of $168 billion. Companies from Japan and South Korea showed impressive gains in profits and assets.

With the US economy growing at a steady three per cent over the past 12 months, the number of American companies on the list too are
growing. Total sales rose 12 per cent in 2010 over 2009, profits jumped 69 per cent, versus 56 per cent for the S&P 500.

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