Here are some things you need to know as markets open today in the United Arab Emirates.
1) Abu Dhabi National Oil Company for Distribution will hold a board meeting on Dec 18, 2017, to consider general business-related matters.
2) Abu Dhabi-listed Al Khaleej Investment said its board of directors was provided updates on the properties redevelopment plan during a meeting on Dec 13.
3) Dubai-listed Takaful Emarat Insurance said its shareholders have approved the board’s recommendation to increase the company’s paid-up capital by AED 100 million, at an issue price of AED 1 per share.
4) Abu Dhabi Financial Group is looking to expand its footprint in Saudi Arabia, UAE and Egypt, Al-Khaleej newspaper reported, citing Chief Executive Officer Jassim Alseddiqi said.
5) Regulatory changes in some GCC countries have pushed up insurance prices, particularly for motor and medical cover, improving the underwriting profitability of the region's insurers, Moody's Investors Service said in a recent report.
6) Dubai Land Department has signed a partnership agreement with India-based Q4 Consultants to promote investment opportunities for Indian investors in Dubai’s real estate market.
7) Moody's Investors Service has affirmed the long-term issuer rating of Sharjah at A3 and maintained the outlook at stable. The agency also affirmed the A3 ratings on backed senior unsecured debt issued by Sharjah Sukuk Limited and Sharjah Sukuk Limited's senior unsecured debt, special purpose vehicles established by Sharjah government.
8) Oil prices closed last week on a mixed note, with Brent crude losing 0.1 percent to reach $63.23/bbl, while WTI crude rose 0.5 percent to $57.3/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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