Revealed: Gulf's most admired companies

21. National Bank of Kuwait (Kuwait)
Banking & finance
The largest Kuwaiti bank announced net profits of US$221.5m during the first three months of 2007, compared to US$195m for the same period last year, an increase of 13%. The bank also reported a return on average assets of 3.2% and a return on average equity of 29.3% - the latest in a series of outstanding performances by both regional and international standards. The bank, which reported profits of US$876m for 2006, has branches in New York, London, Paris, Geneva, Beirut, Jordan, Bahrain, Qatar, Singapore, Vietnam, Thailand, Iraq, Jeddah, and Shanghai. It boasts capital resources of over US$2.2bn, and is ranked in the top 300 banks of the world.

22. RAK Ceramics (UAE)
Manufacturing
The last year and the coming 12 months have been and will be huge for RAK Ceramics. Led by its charismatic CEO Dr Khater Massaad, or "Doctor" as he is affectionately known on the factory floor and in the office, the company is closing in fast on the world number one spot as the biggest ceramics manufacturer in the world and opened 10 new factories in 2006. It has put RAK on the map as a successful, low-cost, high-return business model. The surprising thing is that not many people know how big RAK Ceramics is. Its vast array of ceramic tiles, and huge variety of sanitaryware has transformed it into a US$400m global conglomerate exporting to over 135 countries with a distributable net profit of US$37.5m in 2006. 2008 will almost certainly be the year when its number one position is confirmed.

23. Investcorp (Bahrain)
Banking & finance
With over US$10bn in invested assets under management, the Bahraini financial powerhouse is one of the largest and most diversified investment companies in the GCC. This month the group - which usually targets Arab wealth for investments in the West - launched a US$1bn fund for Western investors. According to Reuters, the fund will invest in private equity and real estate in the West and comes in addition to its US$1bn fund for Gulf investments. In the second half of 2006, the company raised US$1.1bn from the sale of a number of companies including Swedish bedmaker Hilding Anders for US$1bn and healthcare group Harborside for US$275m.

24. MBC (KSA)
Media
Nearly 16 years ago MBC became the first broadcaster to create a free to air 24-hour television network across the Arab world - and it hasn't looked back since. It has remained privately owned and controlled by the legendary chairman Sheikh Waleed Bin Ibrahim Al Brahim. In the past few years, it has continued to impress. On top of the four main channels are Al Arabiya, the highly respected 24-hour news channel, and MBC Action - which has won acclaim for winning the rights to series such as Lost and Prison Break. Over the past year MBC 2 has stolen many of the headlines by broadcasting several top Hollywood movies. A year earlier, it won the Arab broadcasting rights to the Live8 concert in London. Although also having made a hugely successful move into radio, MBC continues to impress mostly on television.

It recently has launched ‘On the Road', a reality TV show featuring four Arabs who make a 10 week journey across America.

25. Global Investment House (Kuwait)
Banking & finance
Through the shrewd management of Maha Al Ghunaim, one of the few female executives in the GCC, Kuwait's most recognised investment institution continues to lead the way in unearthing lucrative acquisitions. Global's private equity arm currently manages over US$1bn of funds and recently launched its Global Buyout Fund for investments in the MENA, Asia and Turkey. Last year the entire company's assets under management reached US$7.2bn.

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