Revealed: Top 10 Companies In Qatar

The biggest businesses from the tiny Gulf state of Qatar.

Gulf Business
November 27, 2012

1. Qatar National Bank

MCAP $bn: 25.6 Sector: Banking & Investment Services Established in 1964, QNB has gone on to become the Gulf's biggest bank. The lender launched a $1 billion bond earlier this month.

2. Industries Qatar

MCAP $bn: 19.9 Sector: Chemicals A regional powerhouse in the production of petrochemicals, steel and fertilizers, Industries Qatar is the Gulf state's largest publicly-traded company.

4. Qatar Telecom

MCAP $bn: 9.2 Sector: Telecommunications One of the region's largest telecoms firms, Qtel signed its debut Islamic financing deal this month, worth $500 million.

5. Masraf Al Rayan

MCAP $bn: 5.6 Sector: Banking & Investment Services Qatar's biggest Islamic bank, Masraf Al Rayan deals with banking, financial and investment services in accordance to the Islamic Sharia principles.

6. Qatar Islamic Bank

MCAP $bn: 5.0 Sector: Banking & Investment Services The Sharia-compliant lender launched a five-year, $750 million Islamic bond last month.

7. Commercial Bank of Qatar

MCAP $bn: 4.7 Sector: Banking & Investment Services CBQ has financed many big infrastructure projects, helping the government's strategy to diversify its economy away from oil.

8. Qatar Electricity and Water Co

MCAP $bn: 3.7 Sector: Utilities One of the region's first private sector companies to operate in the industry, QEWC is 42.74% owned by the Qatari Government and 57.26% owned by companies and individuals.

9. Qatar Fuel

MCAP $bn: 3.4 Sector: Energy Qatar Fuel engages in trading and marketing of gas cylinders, oil, gas, and other petroleum products. It also practices in different types of contracts and tenders.
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The big surprise for 2012 was Qatar which lost 7.5 per cent of its market value in the first half of this year. In 2011, Qatar was the only GCC country with positive stock market returns (up one per cent). Changing sentiment in the gas exports market, slower growth in GDP and corporate earnings and declining liquidity could be the primary reasons for turning the tide against Qatar.

After experiencing double digit growth rates for the last six years, Qatar’s GDP growth rate is expected to come down to normal levels going forward. While infrastructure spending is expected to be robust, investments in the upstream hydrocarbon sector will tail off due to culmination of its 20-year hydrocarbon investment programme in 2011. With reduced government spending, capital formation will be affected, leading to slower growth in corporate earnings. In Q1 12, net income of listed Qatari companies grew by only two per cent YoY.

Click here to view 1-50 top GCC Companies

Click here to view 51-100 top GCC companies

(Research by Kuwait Financial Centre (Markaz); financial data from Reuters July 31 2012).

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