Oil giant Aramco has retained its position as the region’s most valuable brand, London-based valuation consultancy firm Brand Finance ’s latest report (pdf) showed. This comes despite an 8% drop in brand value to USD 41.6 bn on the back of lower crude oil prices and sales volumes.

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Another mention for Stc: Telecoms giant Stc clinched the top spot as the most valuable telecoms brand in the Middle East after a 12% increase in brand value to USD 13.9 bn. It ranked as the region’s second strongest brand in the region with a brand strength index score of 88.1/100.

All thanks for Telefonica: Stc grabbed a 9.9% stake in Spain’s Telefonica in September 2023 to become the telecom giant’s largest shareholder at USD 2.3 bn. That has sent Spain’s government on a quest to edge out Stc as the largest shareholder.

And one for healthcare: King Faisal Specialist Hospital and Research Center was named the region’s most valuable healthcare brand on the back of a 31% increase in brand value to USD 1.5 bn. It ranked first in the region and 20th globally in Brand Finance’s Global Top 250 Hospitals list with a brand strength index score of 73.9/100.

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