Here are some things you need to know as markets open today in the United Arab Emirates.
1) Dubai-listed Drake & Scull International said a consortium that includes its subsidiary, Passavant Energy & Environment, and Saudi-based Aziz Company for Contracting and Industrial Investment has won a SAR 268 million contract for a wastewater treatment plant in Saudi Arabia.
2) Dana Gas said a London court has ordered the Kurdistan Regional Government of Iraq to pay $14 million, and interest, to the Abu Dhabi-listed company and its consortium partners.
3) ENBD REIT Ltd., the real estate investment trust managed by Emirates NBD Asset Management, said its net asset value (NAV) stands at $292 million (ex-dividend and $1.15 per share). The property portfolio value stands at $352 million.
4) Abu Dhabi-listed Finance House reported a Q2 2017 net profit attributable to shareholders of AED 7, holding steady from AED 7.1 million the same quarter last year.
5) Abu Dhabi-listed energy firm TAQA has scheduled a board meeting on August 9 to discuss its Q2 2017 financial statements.
6) Dubai-listed Air Arabia will hold a board meeting on August 7 to review its Q2 2017 financial statements.
7) Dubai-listed Unikai Foods has scheduled a board meeting on August 3 to discuss its Q2 2017 financial statements.
8) Emirates Investment Bank will hold a board meeting on August 7 to discuss its Q2 2017 financial statements.
9) Oil prices declined on Wednesday on reports of rising US crude stockpiles. Brent crude was last down 0.9 percent at $51.3/bbl and WTI crude fell 1 percent to $48.68/bbl.
10) Asian stocks were mixed towards closing hours. Japan’s Nikkei 225 Index was last up 0.6 percent and Hong Kong’s Hang Seng Index rose 0.5 percent. China’s CSI300 Index was trading slightly lower.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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