Executive Summary
GCC Corporate earnings increased by 16% during 2017 compared to the last year. UAE, Kuwait and Saudi Arabia were three countries to register positive earnings performance growing by 62%, 10% and 9% respectively in 2017 compared to 2016. In Q4, 2016 Abu Dhabi National Energy (Taqa) registered a loss of USD 4bn on account of impairment of assets which dragged the overall earnings for UAE in 2016 to USD 11.4bn. On account of low base effect, UAE posted a full year earnings growth of 62% in 2017. Saudi Arabia's earnings growth was largely helped by the positive momentum in its non-oil private sector while Kuwait was largely helped by the positive performance in the commodities sector and its real estate sector.
