In this photo shows the Emirati telecom giant Etisalat’s outlet in Dubai. File photo
UAE companies have crossed a new milestone in global rankings. Emirati telecom giant Etisalat remains the most valuable B2C brand in the Middle East and Africa for the third consecutive year, while Abu Dhabi National Oil Company (Adnoc) is the Middle East’s fastest growing brand, the first UAE firm to achieve a brand valuation of more than $10 billion.
This is according to the latest Brand Finance Global 500 report launched at the World Economic Forum in Davos on Wednesday.
All eyes will be on Etisalat as it prepares to excite the Expo’s expected 25 million visitors with a seamless 5G connectivity that brings the event’s themes to life. Etisalat’s footprint in 16 countries across Asia, Middle East, and Africa makes it home to an impressive portfolio of brands including Mobily, Ufone, Maroc Telecom, PTCL, and Etisalat Misr. Demonstrating a consistent performance over the years, Etisalat retains its titles as the most valuable and strongest telecom brand in the region.
Since 1971, Adnoc has created thousands of jobs, and spiralled the growth of a diverse knowledge-based economy, and played a key role in Abu Dhabi’s global emergence. Adnoc continues to look for new and innovative ways to maximise the value of its resources, pioneering those approaches and technologies that will ensure it is able to meet the demands of an ever-changing energy market, and continue to have a positive impact on the Abu Dhabi economy for generations to come.
With a brand value of $46.8 billion, Saudi Aramco is the most valuable among the 44 new entrants in the ranking. Ranked 24th globally, Saudi Aramco also claims the title of the most valuable B2B brand in the Middle East and Africa.
Online giant and one of the Big Four tech firms Amazon has also hit a new landmark: it retains its position as the world’s most valuable brand for the third consecutive year. It has surpassed the $200 billion brand value mark.
For the second year in a row, Ferrari, the iconic Italian luxury sports car manufacturer, has retained its position as the world’s strongest brand with a Brand Strength Index (BSI) score of 94.1 out of 100.
The Abu Dhabi National Oil Company (Adnoc) announced on Sunday that it has entered into a follow-on pipeline infrastructure investment agreement with the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF). ADRPBF will invest Dhs1.1 billion ($300 million),
Adnoc is absorbing, embedding and applying cutting edge technology at every step of the production process from oil platforms to trading platforms, said Dr Sultan Al Jaber, CEO of ADNOC Group. ‘’In short, as we enter a new age of technology, the world remains reliant on a 160-year-old industry,
India’s energy security is a top priority for the UAE with ADNOC being the only foreign oil and gas company, to date, to invest in India’s strategic petroleum reserves programme.
Global shares dipped on Friday as data out of China, the eurozone and the United States put a lid on expectations for a sustained global rebound, with traders already worried about a delay in US fiscal stimulus.
Chinese firms like Xiaomi are facing delays getting approvals from India’s quality control agency for their goods, five industry sources told Reuters, as the business environment deteriorates after a clash on their Himalayan border.
Abu Dhabi National Energy Company (Taqa), announced on Thursday its earnings for the second quarter of 2020. The company’s revenues reached Dhs3.3 billion for the quarter, reflecting the COVID-19 pandemic ongoing adverse impact on energy markets.