Here are some things you need to know as markets open today in the United Arab Emirates.
1) Dubai-listed Emaar Properties posted a net profit of AED 1.51 billion for the third quarter of 2017, up 32 percent year-on-year (YoY) on the back of higher property sales in Dubai.
2) Abu Dhabi-listed Aldar Properties reported a net profit of AED 601 million for Q3 2017, compared to AED 737 million in the same period last year.
Separately, the developer said it has appointed Mohamed Khalifa Al Mubarak as chairman of its board, while Talal Al Dhiyebi as has been appointed chief executive officer.
3) Dubai-listed GFH Financial said its net profit attributable to shareholders for third quarter of 2017 increased to $25.09 million, from a loss of $7.58 million for the comparable period in 2016. The firm is also listed in Bahrain.
4) Al Firdous Holdings, listed in Dubai, reported a net loss if AED 2.4 million for the three months ending Sept. 30 2017, similar to the financial results for the same period last year.
5) Fujairah Cement Industries, listed in Abu Dhabi, posted a net profit of AED 6.2 million for Q3 2017, nearly half of AED 12.4 million reported in the same period last year.
6) Abu Dhabi-listed National Takaful Co. (Watania) made a net profit of AED 3.1 million in Q3 2017, compared to a profit of AED 314,000 in Q3 2016.
7) Dubai-listed Arig said it recorded consolidated net profit of $ 4.1 million for the first nine months of 2017, compared to $ 3.4 million in the same period last year, backed by positive technical performance and higher investment earnings.
8) Oil prices were slightly higher on Monday. Brent crude was last up 0.02 percent at $63.53/bbl, while WTI crude rose 0.1 percent to $56.79/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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