Here are some things you need to know as markets open today in the United Arab Emirates.
1) Abu Dhabi-listed Eshraq Properties will hold a board meeting on August 6 to review its Q2 2017 financial statements. The members will also discuss investment opportunities in Dubai, and the appointment of main contractor for Eshraq’s Marina Rise project.
2) Dubai-listed Drake & Scull International said it has appointed Mohammad Atatreh as its board member.
3) Bank of Sharjah, listed in Abu Dhabi, reported a net profit of AED 152 million for the first half of 2017, down 14 percent year-on-year.
4) Abu Dhabi-listed Union Cement Co. said its 2017 six-month net profit attributable to shareholders was stable year-on-year at AED 37 million.
5) Arkan Building Materials Co. reported a net profit of AED 14.4 million for Q2 2-17, compared to AED 9.4 million in the same quarter last year.
6) Abu Dhabi-listed Ras Al Khaimah Poultry and Feeding Co. posted a net profit of AED 4.8 million for the first six months of 2017, compared to AED 9.2 million in Q2 2016.
7) Etihad Airways reported a net loss of $1.87 billion for fiscal year 2016, with revenues at $8.36 billion, as one-off impairment charges and fuel hedging losses weighed.
8) The total trading value of foreign investments on Abu Dhabi Securities Exchange (ADX) reached AED 26.9 billion during the first half of 2017, accounting for 47.3 percent of the total trade value of AED 56.5 billion on the exchange during the period.
9) Oil prices edged higher on Friday, touching a two-month high. Brent crude rose 2 percent to $52.52/bbl and WTI crude gained 1.4 percent to reach $49.71/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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