19.4 C
Dubai
Wednesday, February 28, 2024
spot_img

Brand value of UAE companies to grow in 2023 – News

[ad_1]

Adnoc is the strongest oil and gas brand in the Middle East and most valuable in the UAE, report says


read more…



release time: Tuesday, February 28, 2023 at 7:13 am

In 2023, the brand value of top UAE entities in energy, telecommunications, aviation and banking increased.

Abu Dhabi National Oil Company (Adnoc) is the strongest oil and gas brand in the Middle East and the most valuable brand in the UAE, according to an annual report by Brand Finance released on Tuesday.

It is the second most valuable Middle Eastern brand, with a brand value of $14.2 billion, an increase of 11% over the past year.

Etisalat, the largest telecommunications operator in the UAE, grew 4% in e& brand value to US$10.5 billion, with a Brand Strength Index (BSI) score of 89.1 out of 100, making it the strongest brand in the Middle East.

“Etisalat by e& has evolved through a change in brand identity last year to reflect a technology-driven telecom brand, backed by excellent 5G connectivity and increased employee satisfaction thanks to a vibrant company culture, making it an attractive employers,” it said.

Brand Finance determines the relative strength of brands through a balanced scorecard that evaluates marketing investments, stakeholder equity, and business performance.

The brand value of the world’s largest international airline, Emirates, rose 2% to $5.1 billion and remained the most valuable Middle Eastern airline.

In the banking sector, the brand value of the UAE’s First Abu Dhabi Bank (FAB) rose 19 percent to $3.9 billion. It is the third most valuable banking brand in the region and the most valuable in the UAE.

Dubai-based Mashreq Bank grew its brand value by 35 percent to $1 billion, making it the third fastest-growing brand in the UAE. The brand’s new brand identity, launching in 2022, is part of a broader strategy to realign its offerings as a digital-first financial institution.

The brand value of global port operator DP World also increased by 15% to $1.8 billion, thanks to continued healthy growth, making it the most valuable logistics brand in the Middle East.

“Despite difficult operating conditions, global logistics brands continue to deploy technology to create efficient and innovative trade solutions for stakeholders,” it said.

Among regional companies, Saudi Arabian oil and gas giant Aramco remained the most valuable company in the Middle East, with its brand value up 4 percent to $45.2 billion, helped by soaring oil and gas prices and demand this year.

Saudi chemical company Sabic’s brand value rose 1 percent to $4.7 billion; Al-Rajhi Bank’s brand value rose 32 percent to $5.7 billion); Qatar National Bank’s brand value rose 9 percent to $7.7 billion .

— waheedabbas@khaleejtimes.com

[ad_2]

Source link

Related Articles

UAE Corporate Tax Introduces Dh10,000 Fine for Late Registration

UAE Corporate Tax – Unveiling the Dh10,000 Fine for Late Registration The Ministry of Finance recently unveiled a new initiative aimed at bolstering compliance with...

Ramadan 2024 ,6 Instances Granting Exemption from Fasting Faith

Ramadan 2024: 6 Exceptions for Fasting in the UAE Islam, as a religion, has established clear provisions that offer flexibility to individuals facing particular circumstances....

Vital Vaccinations for Children Traveling during Umrah or Eid Holidays, UAE Doctors Emphasize Empowering Safety

Vital Vaccination for Umrah or Eid Travel , UAE Doctors Empowering Safety Around 20 percent of parents in the UAE inadvertently overlook their children's routine...

Dubai Parkin IPO Set to Ignite Market Surge on March 5th, Revolutionizing Prosperity

Dubai's Parkin IPO Set to Soar on March 5, Marking UAE's Pioneering Stock Market Debut in 2024 Dubai is gearing up for a groundbreaking event...

Sharjah-Muscat Bus Service Starting February 27th, Empowering Connectivity Launch of UAE

Sharjah-Muscat Bus Service on February 27, Launch of UAE Mwasalat, the renowned public transport company, has announced the launch of an eagerly anticipated new bus...

Latest Articles