World Finance

World Finance

October 17, 2016 05:00 ET

World Finance Announces Winners of 2016 GCC Investment and Development Awards

LONDON, ENGLAND--(Marketwired - Oct. 17, 2016) - Since 2014, oil prices have fallen from above $100 a barrel, to floating at around $50. This price slump has been felt differently around the world; while it is a boom to some, it has spelled gloom for others. Generally, energy-exporting nations have found themselves on the losing end of the softening of oil prices. Yet not all oil-exporters have passively accepted this decline and allowed themselves to become victims of market forces.

Many have seen it as providing a key chance to pursue long needed economic reforms. Principally, the Arab Kingdoms that compose the Gulf Cooperation Council have taken the opportunity of the world oil market in flux to reassess their economies and pursue reforms aimed at diversification. Necessity is the harbinger of change. Many GCC states are now implementing reforms aimed at building a more diverse, healthy and vibrant economy. A number of firms from GCC economies are set to take maximum opportunity of this reconfiguration, spearheading the GCC diversification revolution.

In the new issue of World Finance we present names of those firms that have truly set themselves apart from the competition in leading the way and acting as the forerunners of GCC economic diversification. Together, the World Finance research team and our readership have selected the institutions most deserving of this year's World Finance GCC Investment and Development Awards.

To see the full list of this year's winners, pick up the latest issue of World Finance, available in print and online now.

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