What you need to know as UAE markets open on April 16

1) Abu Dhabi-listed developer Aldar Properties has inked a deal with Emaar Properties to open a children’s edutainment center at Aldar’s Yas Mall.

2) Dubai’s Shuaa Capital has been selected as lead manager and underwriter for Dar Al Takaful’s proposed rights issue, it said in a bourse statement. The Dubai-listed insurer recently announced plans to raise AED 50 million through a rights issue.

3) Abu Dhabi-listed Bank of Sharjah will call a general assembly meeting on April 29 to approve renewing the issuance of $1.5 billion in senior unsecured bonds, nonconvertible into shares. 

4) Seven percent of work is complete on Route 2020, a 15 kilometer-long extension of the Dubai Metro Red Line, the emirate’s Roads and Transport Authority annoiunced on Saturday.

5) Oil prices ended last week settling slightly higher. Global benchmark Brent crude closed 0.1 percent higher at $55.89 per barrel (bbl) while WTI was also up 0.1 percent at $53.18/bbl.

6) US markets closed in the red on Thursday after the country dropped a large bomb in Afghanistan. The Dow Jones index closed 0.7 percent lower at 20,453 points, while the S&P 500 also shed 0.7 percent to close at 2,329 points.

Write to Jerusha Sequeira at jerusha.s@argaamnews.com