Gulf Firms Earn $143B Profits

Gulf-based listed companies achieved record profits in the first half of 2026, reaching approximately $142.8 billion, representing a 23.1% increase compared to the same period last year. The Saudi market led the scene as the largest, accounting for 63% of the total profits in the region, supported by Aramco's profits which amounted to 241.6 billion riyals (about $64.4 billion), reflecting an annual growth rate of 33% and making up 45% of the profits of Gulf companies. The Saudi banking sector also contributed significantly, earning 48.8 billion riyals, more than half of the profits of the Saudi stock market, with an growth of 8%. On another note, Abu Dhabi's profits increased by 28.7%, while Qatar's profits declined by 11.5% due to a downturn in the industrial sector. The results highlight the profitability driven by rising oil prices, the importance of the banking sector, and the varied main sources of growth, with sustained profits in the banking industry and extraordinary gains from asset revaluations.

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