Three Bahraini Companies are Among Forbes’s Top 100 Companies

Three Bahraini Companies are Among Forbes’s Top 100 Companies

In the midst of soaring inflation and global turmoil, stock markets worldwide are feeling the strain, and the MENA region is no exception. In 2023, the combined market value of the Middle East’s Top 100 Listed Companies has experienced a slight decline of 5%, dropping from $4 trillion in 2022 to $3.8 trillion. However, the total sales for these 100 companies have surged by 38.5% to $1.1 trillion, with profits rising by 37.7% to reach $277.7 billion. The combined value of their assets has also increased by 9.5% to $4.6 trillion as of the end of 2022.

The 2023 list welcomes several new entries, including Qatar’s Dukhan Bank, UAE-based Multiply Group, and Americana Restaurants, as well as Saudi Aramco Base Oil Company (Luberef) and Marafiq.

Focusing on Bahrain, Aluminum Bahrain (Alba) ranks 50th on the list. As the Middle East’s largest producer of aluminium, Alba produced over 1.6 million metric tonnes in 2022. The company is dually listed on the Bahrain Bourse and London Stock Exchange, with Bahrain Mumtalakat Holding Company owning 69.38% and SABIC Industrial Investments Company owning 20.62%. In January 2023, Alba launched its Solar Farm Project, which will consist of approximately 11,300 solar panels installed on its building, covering