What you need to know as UAE markets open on August 20

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

1) Dubai-listed Emirates Integrated Telecommunications Co. (du) has called a general assembly meeting on Sept 13 to approve board’s recommendation for cash interim dividend of AED 0.13 per share.

2) Net profits of 28 insurance companies listed on Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) surged 34.2 percent during H1 2017 to AED 764 million, against AED 569 million during the corresponding period last year.

3) The total value of monetary deposits at the UAE Central Bank amounted to AED 123 billion during H1 2017, according to Central Bank statistics. On a month-over-month basis, the deposits increased by 20.5 percent, to AED 123 billion in June.

4) The Dubai Gold & Commodities Exchange (DGCX) and Saudi Arabia-based Ayedh Dejem Group have agreed to develop and launch the Middle East’s first-ever shariah-compliant spot gold contract to be traded on an international exchange.

5) Crude oil prices ended last week with gains as Brent rose to a three-month high. The benchmark grade closed higher by 3.3 percent at $52.72/bbl, while WTI crude rose 3 percent to $48.51/bbl.

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