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Sun 10 Jun 2012 08:21 AM

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Banking & Finance dominates Power 500 list

Nearly 20% of individuals on list work in banking and finance

Banking & Finance dominates Power 500 list
The Banking & Finance sector has again dominated the 2012 Power 500.

The Banking & Finance sector has again dominated the 2012 Power 500, published by Arabian Business on Sunday.

The magazine reveals that 19 percent of individuals work in the sector. The next highest category was Culture & Society, accounting for 18 percent of the names, with Construction and Industry contributing 15 percent. Another 14 percent came from Arts and Entertainment, 9 percent from Media, 6 percent from Retail, 6 percent from Science, 4 percent from Sports, and 4 percent from Telecoms. The list shows 3 percent from Transport, with just 2 percent working in Education.

Saudi Arabia’s Prince Alwaleed topped the Arabian Business Power List for the eighth successive year.

Emirates Airline chairman Sheikh Ahmed was ranked second. The highest new entry was third placed Reem Asaad, the Saudi woman who launched a campaign to allow women to work in lingerie shops. By July, her campaign paid off when the Saudi Labour Ministry banned men from working in lingerie shops after a directive from King Abdullah – in an instant, creating 44,000 jobs for women.

Emaar chairman Mohamed Alabbar was fourth on the list, with the Libyan activist Mohammed Nabbous in fifth place. Nabbous was the founder of Libya Al Hurra TV in Benghazi,  the first independent broadcast news organisation since Gaddafi took power in Libya. The 28-year old was killed last year by Pro-Gaddafi forces.

“Since his death, many experts in Libya and the west have credited Nabbous for his pivotal role in bringing the world’s attention to the killings in his native country. Without him, it is debatable whether the western powers would have intervened in the conflict,” the magazine reported.

The 2012 Power 500 contains a record 127 new entries, and also features 105 women, the highest ever number. The UAE has the highest number of entries with 96 on the list, followed by Saudi Arabia with 62 and 45 from the US. In total, Arabs living in 37 different countries are featured on the list.

When it comes to countries of origin, Lebanon contributes the most with 85 entries, followed by 67 from Saudi Arabia and 58 from Egypt.

Ed Attwood, Editor of Arabian Business, said: “What we have published today is the most comprehensive guide every to Arab influence all across the world. Our researchers have looked at the work of Arabs in every continent and every country across the globe, and covered every sector from business and finance to media, sports and science. It is clear from this list that Arab success and influence across the world has never been more significant than it is today.”

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