Gulf corporate earnings up 10% in 2014

Kuwait City - Corporate earnings in the energy-rich Gulf states rose 10% last year, for the first time surpassing their highest level before the global financial crisis, a report said on Tuesday.

Net profits of the 658 listed companies on the seven bourses of the Gulf Cooperation Council states reached $68bn in 2014 compared with $61.7bn the previous year, investment firm Kuwait Financial Centre (Markaz) said in a report.

It was the first time Gulf corporate earnings had surpassed $63.2bn, which was recorded in 2007 a year before the financial crisis hit.