Here are some things you need to know as markets open today in the United Arab Emirates.
1) Aramex reported a net profit of AED 81.6 million for Q3 2017, up 13 percent year-on-year (YoY), driven by growth in e-commerce businesses. In addition, freight services saw a rebound in Q3 2017, the Dubai-listed firm said.
2) Abu Dubai-listed RAK Properties posted a net profit of AED 13 million for Q3 2017, declining from AED 40.4 million in the same period last year.
3) Ras Al Khaimah Cement Co. made a net profit of AED 0.2 million in the first nine months of 2017, a 97.4 percent YoY drop.
4) Invest Bank, listed in Abu Dhabi, reported a net profit of AED 226 million for the first nine months of 2017, a 3 percent YoY decline.
5) Dubai-listed Arabtec Holding will hold a board meeting on Nov. 7 to review and approve its Q3 2017 financial statements.
6) Oil prices closed last week with gains, as OPEC hinted at the possibility of maintaining its output limits until the end of 2018. Brent crude rose 2.4 percent to $62.07/bbl, while WTI crude was down 2 percent to $55.64/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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