STC is most valuable Saudi and Emirati brand, Kantar report finds

STC leads the 2023 Kantar BrandZ ranking of the top 30 most valuable Saudi and Emirati brands with a brand value of $13.7 billion. (Supplied)
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Updated 03 November 2023
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STC is most valuable Saudi and Emirati brand, Kantar report finds

  • Telecom giant STC retains its position for third year in a row
  • Its brand value is $13.7 billion

DUBAI: Telecom giant STC leads the 2023 Kantar BrandZ ranking of the top 30 most valuable Saudi and Emirati brands, retaining its number one position overall for the third year with a brand value of $13.7 billion.

Etisalat by e& is the most valuable Emirati brand, worth $9.5 billion, with its brand value growing by 69 percent in the past year. 

Collectively, the top 30 Kantar BrandZ Emirati and Saudi brands are worth more than $94.2 billion, equivalent to 5.8 percent of the two countries’ combined GDPs. 

Kantar is an analytics and consulting company.

“Our region is seeing rapid growth … the Kantar BrandZ Top 30 account for nearly 6 percent of the GDP of the UAE and KSA, (which is) a huge testament to the power of strong brands,” Amol Ghate, managing director, MENAP, Insights Division, Kantar, told Arab News. 

The ranking remains largely stable with 29 of last year’s 30 ranked Saudi and Emirati brands returning in 2023.

The only newcomer is pharmacy retailer Nahdi, which entered at No. 7 in the Saudi ranking with a brand value of $2 billion.

In the Kingdom, real estate brand Dar Al Arkan and Saudia Dairy have both grown their value by 34 percent. 

The former, valued at $573 million, recently constructed the world’s tallest 3D-printed building in Riyadh, while the latter, valued at $547 million, rebranded earlier this year.

The financial services and telecom providers categories dominate the rankings, together accounting for nearly three-quarters of the total brand value. 

The financial services category has the highest representation, with 13 brands, and is the most valuable category, contributing to 44 percent of the overall value. 

The categories that have seen significant growth this year are travel services (69 percent), retail (30 percent), real estate (16 percent), energy (14 percent) and food and beverages (7 percent).

Ghate said: “The importance of brands in consumer decision-making has increased in the last four years, and brands that are creating meaningfully different offers and experiences, while ensuring that they stay salient in consumers’ minds, have seen more than a 500 percent growth in value compared to other brands.”


Foreign media group slams Israel for refusing to lift Gaza press ban

Updated 58 min 58 sec ago
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Foreign media group slams Israel for refusing to lift Gaza press ban

  • Foreign Press Association expresses 'profound disappointment' with Israeli government’s response to a Supreme Court appeal
  • Israel has barred foreign journalists from independently entering the devastated territory since the war started

JERUSALEM: An international media association on Tuesday criticized the Israeli government for maintaining its ban on unrestricted media access to Gaza, calling the move disappointing.
The government had told the Supreme Court in a submission late Sunday that the ban should remain in place, citing security risks in the Gaza Strip.
The submission was in response to a petition filed by the Foreign Press Association (FPA) — which represents hundreds of journalists in Israel and Palestinian territories — seeking immediate and unrestricted access for foreign journalists to the Gaza Strip.
“The Foreign Press Association expresses its profound disappointment with the Israeli government’s latest response to our appeal for full and free access to the Gaza Strip,” the association said on Tuesday.
“Instead of presenting a plan for allowing journalists into Gaza independently and letting us work alongside our brave Palestinian colleagues, the government has decided once again to lock us out” despite the ceasefire in the territory, it added.
Since the outbreak of the Gaza war in October 2023, triggered by an attack on Israel by the Palestinian militant group Hamas, the government has barred foreign journalists from independently entering the devastated territory.
Instead, Israel has allowed only a limited number of reporters to enter Gaza on a case-by-case basis, embedded with its military inside the blockaded Palestinian territory.
The FPA filed its petition in 2024, after which the court granted the government several extensions to submit its response.
Last month, however, the court set January 4 as a final deadline for the government to present a plan for allowing media access to Gaza.
In its submission, the government maintained that the ban should remain in place.
“This is for security reasons, based on the position of the defense establishment, which maintains that a security risk associated with such entry still exists,” the government submission said.
The government also said that the search for the remains of the last hostage held in Gaza was ongoing, suggesting that allowing journalists in at this stage could hinder the operation.
The remains of Ran Gvili, whose body was taken to Gaza after he was killed during Hamas’s 2023 attack, have still not been recovered despite the ceasefire.
The FPA said it planned to submit a “robust response” to the court, and expressed hope the “judges will put an end to this charade.”
“The FPA is confident that the court will provide justice in light of the continuous infringement of the fundamental principles of freedom of speech, the public’s right to know and free press,” the association added.
The Supreme Court is expected to issue a ruling on the matter, though it is unclear when a decision will be handed down.
An AFP journalist sits on the board of the FPA.