Saudis dominate Forbes Middle East’s 2021 list of top CEOs

Four out of the top five chief executives were from the oil and gas industry. (Supplied)
Short Url
Updated 07 March 2021
Follow

Saudis dominate Forbes Middle East’s 2021 list of top CEOs

  • Aramco chief Amin Nasser emerged as this year’s number one
  • Saudi Arabia had the most entries at 18, followed by the UAE and Egypt with 16 entries each

DUBAI: Saudi executives dominated Forbes Middle East’s ranking of the best corporate leaders in the region, with Aramco chief Amin Nasser emerging as this year’s number one.

The Middle East counterpart of American business magazine Forbes recognized business icons “making significant contributions to the region’s economies.”

Some 100 CEOs from around the region were featured, and 24 nationalities were represented. Saudi Arabia had the most entries at 18, followed by the UAE and Egypt with 16 entries each.

Four out of the top five chief executives were from the oil and gas industry.

Aramco’s Nasser, who was ranked first, was followed by Sultan Ahmed Al-Jaber of the Abu Dhabi National Oil Company.

SABIC’s Yousef Abdullah Al-Benyan, Kuwait Petroleum Corporation’s Hashem Hashem and Sonatrach’s Toufik Hakkar were also in the top 10.

Executives from the banking and financial services sector accounted for almost a third of the names, with Abdulla Mubarak Al-Khalifa of Qatar National Bank emerging as the leader in the field.

The magazine used various measures to come up with the list, including company size, individual accomplishments, as well as the executives’ impact on the wider industry.


Gold rises on Iran war safe-haven bid; firm dollar limits upside

Updated 05 March 2026
Follow

Gold rises on Iran war safe-haven bid; firm dollar limits upside

BENGALURU: Gold prices rose on March 5, lifted by safe-haven demand amid an escalating war in the Middle East, while a stronger dollar and concerns around the US Federal Reserve’s monetary policy capped gains.

Spot gold was up 0.6 percent at $5,168.43 per ounce, as of 11:55 am Saudi time. US gold futures for April delivery were up 0.9 percent at $5,179.20.

Israel launched a large wave of strikes on Tehran on March 5, targeting what it said was infrastructure belonging to the Iranian authorities, after Iranian missiles sent millions of Israelis rushing into bomb shelters.

“On the one hand, there may be greater safe-haven demand for gold given the ongoing conflict in the Middle East. On the other hand, the risk of a prolonged period of higher energy prices that takes rate cuts off the table, and adds to the chance of rate hikes, could be capping further gains,” said Hamad Hussain, a climate and commodities economist at Capital Economics.

The US dollar rose about 0.3 percent after briefly retreating from three-month highs, as the fallout from the war roiled global markets and kept sentiment fragile.

Concerns about energy supply continued to drive up oil prices and stoke inflation fears.

Gold is considered a hedge against inflation in the long run, but also tends to thrive when interest rates are lower, as it is a non-yielding asset.

President Donald Trump, on March 4, officially nominated former Federal Reserve Governor Kevin Warsh to be the US central bank’s next chair.

US economic activity grew slightly, prices continued to increase and employment levels were stable in recent weeks, the Federal Reserve said on Wednesday in its latest “Beige Book” report.

Markets expect the Fed to keep rates steady at its next policy meeting on March 18, according to CME Group’s FedWatch tool.

Investors are looking out for the weekly US jobless claims data, due later today, and the US employment report for February on March 6 for further clues on monetary policy this year.

Spot silver rose 0.5 percent to $83.80 per ounce. Platinum gained 1.1 percent to $2,172.20, while palladium lost 0.7 percent to $1,662.07.