Here are some things you need to know as markets open today in the United Arab Emirates.
1) Dubai-listed amusement parks operator, DXB Entertainments, more than doubled its net loss to AED 284 million in Q3 2017, compared to the same period last year.
2) Abu Dhabi National Energy Co. (TAQA) reported a net loss attributable to shareholders of AED 194 million in Q3 2017, compared to AED 524 million in the same period last year. TAQA said its third-quarter income was impacted by the unscheduled outage at the Sohar Aluminum smelter in Oman and negative mark-to-market movements at its US power plant tolling agreement.
3) Agility Public Warehousing Co. reported attributable net profit of KWD 17.8 million for Q3 2017, compared to KWD 15.2 million in Q3 2016. The firm is listed in Dubai and Kuwait.
4) Union Properties will hold a board meeting tomorrow to discuss its financial statements for Q3 2017, the developer said in a statement to Dubai bourse.
5) Dubai-based Emirates Group reported a net profit of AED2.3 billion for the first six months of its 2017-18 financial year, up 77 percent year-on-year (YoY) driven by capacity optimization and efficiency initiatives, business growth, and a favorable foreign exchange situation compared to the same period last year.
6) Jebal Ali Freezone (Jafza) in Dubai, a subsidiary of Nasdaq Dubai-listed DP World, has seen 7 percent growth in the number of oil and gas companies during 2016, WAM reported.
7) UAE's National Petroleum Constructions Company (NPCC) has been awarded AED 1.2 billion engineering, procurement and construction (EPC) contract for an offshore platform and two pipelines for Saudi Aramco’s Al Safaniya oilfields.
8) The Emirates NBD Dubai Economy Tracker Index (DETI), an indicator of Dubai's non-oil economy, rose in October to 55.6 from 55.2 in September driven by a strong growth in output and new orders.
9) Oil prices closed last week with declines. Brent crude was down 0.6 percent at $63.52/bbl, while WTI crude fell 0.8 percent to $56.74/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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