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FINANCIAL NEWS
Gulf listed firms earnings drop by 8pct in H1
05 Sep 2016
(MENAFN) The earnings of Gulf-listed firms declined by 8 percent in the first half of this year due to low oil prices and a lack of liquidity.
Furthermore, profits of more than 650 firms reached USD32.8bn in the cited period against USD35.6bn for the same period of last year.
The GCC groups; Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE together pumped almost 15mn barrels of crude oil.
Meanwhile, revenues of firms with SMEs capitalization dropped by 38 percent and 22 percent respectively.
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