Dragged down by weak income generation by companies in Saudi Arabia and the UAE, the GCC corporate earnings fell 6.1 per cent year on year to $52.4 billion by September, the latest study by Global Investment House said. While Qatar is the only country to report rise in consolidated earnings, corporate earnings in Saudi Arabia dropped 12.4 per cent year on year as Abu Dhabi and Dubai posted declines of 9.3 per cent and 3.1 per cent respectively. Qatar's performance was attributed to strong growth in the Real Estate sector's earnings, which accounted for 15.7 per cent of the country's consolidated earnings and added 9.7 per cent to the bourse's incremental earnings growth.
