Dubai is one of the most populous emirates of the United Arab Emirates. Located along the southern coast of the Persian Gulf at the Arabian Peninsula, it is one of the fastest growing economies of the world. It generates most of its revenues from the trade, real estate and financial services. In recent times, Dubai has attracted the attention of millions through ground breaking real estate projects and sports events.
In 2013, the top 500 list of Companies in Dubai and the Arab world boast a turnover of approximately $383.67 billion, made net profits of $71.68 billion, and total assets of $2.64 trillion. Forbes Middle East recently published a list of Top Dubai Companies that weighs high in terms of growth and revenue.
Three UAE based companies namely Etisalat, First Gulf Bank and National Bank of Abu Dhabi ranked among the top ten of the regional multinational companies in Dubai including four corporate from Saudi Arabia, Qatar, and Kuwait. The information is based on the financial statements of 2013, assembled from stock markets across 11 nations of the region.
The company acquired Universal License in 2013; the company introduced 3G Mobile Broadband services in the region with affordable pricing strategy. Being the biggest revenue generating opportunities the company utilized all expertise to deliver 3G technologies to the region. It expanded its operations with the name of ‘Flous’ a subsidiary of Etisalat Moov, enabling subscribers to convert their mobile phones into digital wallets. This gave a competitive edge to the company in African telecom industry. In 2013, it offered some improvements in terms of free internet access within fixed time constraints, free night calls, and value oriented SMS packages. Another initiative was the Epiq Nation Tour; the company visited the young subscribers in educational institutions to get a feedback about the service. It is truly a Big Company in Dubai.
First Gulf Bank of UAE
It is regarded as the fastest growing bank of the UAE, won the Dubai Quality Awards in Dubai along with the Sheikh Khalifa Excellence Award in Abu Dhabi. The profit growth rate of First Gulf Bank is currently the highest among other banks of the UAE. The bank declared stock split for increasing liquidity, greater volume of trades and more investment opportunities. Recently the bank launched its Islamic banking subsidiary to serve this market. It expanded its operations into other GCC countries into Asia.
National Bank of Abu Dhabi
It is the largest lender bank of Abu Dhabi and second largest lender in the United Arab Emirates. The line of businesses includes a whole range of wholesale, retail, and investment banking, private banking, wealth management along with Islamic banking, leasing, property management and brokerage. At the beginning of 2014, NBAD’s international branch has market reach in 17 countries of five continents, from the Far East to Americas. The bank plans to set up a regional financial base in India by the end of 2014, as a part of its overseas expansion.
The stakes are high for the investors and business experts to look for opportunities for future business outlook.