What you need to know as UAE markets open on October 11

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

1) Abu Dhabi-listed RAK Bank said it has closed $350 million three-year syndicated term loan facility. Bank ABC, First Abu Dhabi Bank, and Standard Chartered Bank acted as initial mandated lead arrangers and bookrunners. The facility was signed on Oct. 9 and will be used by RAK Bank for general funding purposes.

2) Abu Dhabi-listed Eshraq Properties’ board members have approved a loan of AED 73.5 million, from Mashreq Bank in counterpart of security on a property.

3) DXB Entertainments said that Hani Soubra has resigned as vice-president (marketing), effective immediately. Separately, the amusement parks operator said Paul Parker has been hired as general manager of the newly created Family Entertainment Centers division.

4) Dubai-listed Deyaar Development will hold an audit committee meeting on Oct. 15 to review its Q3 2017 financial statements.

5) Commercial Bank of Dubai’s board members will meet on Oct. 18 to discuss the bank’s financial statement for Q3 2017.

6) Trading on Dubai Islamic Bank shares is suspended today starting 9.30 am as the bank is holding its board meeting, Dubai Financial Market (DFM) said.

7) Crude oil prices extended gains on Wednesday following indications from OPEC that the market was moving towards rebalance. Brent crude was last up 0.1 percent at $56.69/bbl while WTI crude rose 0.3 percent to $51.06/bbl.

8) Asian equities were mainly positive towards closing hours, with Japan’s Nikkei 225 Index last up 0.3 percent and China’s CSI 300 Index higher by 0.6 percent. Hong Kong’s Hang Seng Index was also in the green. 

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