What you need to know as UAE markets open on July 17

Here are some things you need to know as markets open today in the United Arab Emirates.

1) Dubai-listed Mashreq Bank has reported a Q2 2017 net profit of AED 557 million, a 3.4 percent year-on-year (YoY) increase.

2) National Bank of Fujairah posted a net profit of AED 154.9 million in the second quarter of 2017, a rise of 24.4 YoY, reflecting an improvement in the impairment provisions during the quarter, the Abu Dhabi-listed lender said.

3) Abu Dhabi-listed Invest Bank posted a Q2 2017 net profit of AED 88 million, an increase of 5 percent YoY.

4) Sharjah Islamic Bank, listed in Abu Dhabi, posted a net profit of AED 273 million for the first half of 2017, up 6.2 percent YoY.

5) Abu Dhabi-listed Aldar Properties said it is on track to handover Ansam residential project, which is located on Yas Island, by the end of this year.

6) Dubai-listed Union Properties has appointed Yousef Abdulla Hussain Khouri as its chief executive officer.

7) DXB Entertainments said Raed Kajoor Al Nuaimi has resigned from his position as managing director. He will continue as non-executive board member.

8) Dubai Islamic Bank will hold a board meeting on July 19 to discuss Q2 2017 financial statements.

9) Abu Dhabi Commercial Bank’s board members will meet on July 20 to discuss and approve Q2 2017 financial statements.

10) Crude oil prices started the week with gains. Brent crude was up 0.4 percent at $49.11/bbl and WTI crude rose 0.3 percent to $46.69/bbl, an hour before UAE markets opened. 

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com