Here are some things you need to know as markets open today in the United Arab Emirates.
1) Dubai-listed Amanat Holdings said it has increased its ownership in education provider Taaleem Holdings to 21.7 percent for a total investment of AED 52 million.
2) Dubai-based real estate firm Awtad shares will be listed today on Dubai Financial Market (DFM). Awtad’s paid up share capital is AED 150 million, divided into 1.5 million shares with a nominal value of AED 100 per share.
3) Abu Dhabi-listed Waha Capital said its healthcare subsidiary, Anglo Arabian Healthcare (AAH), has completed the sale of its full equity stake in Proficiency Healthcare Diagnostics (PHD) to Al Borg Medical Laboratories. The transaction involves an equity sale price of about AED 184 million for 100 percent of PHD. Waha Capital is expected to see an accounting gain of AED 94 million in the Q4 2017 financial statements.
4) Dubai-listed Air Arabia has announced the launch a new seasonal route to Bodrum in Turkey, commencing from June 13, 2018.
5) Abu Dhabi Securities Exchange (ADX) said ADNOC Distribution has been added to its general index and to sector indices as of December 20, 2017, lifting the number of companies included in the general index to 62.
6) The UAE Central Bank said the money supply aggregate M1 decreased by 0.3 percent month-on-month to AED 490.3 billion at the end of November. The M2 increased by 0.4 percent to AED 1.25 trillion by November as compared to the previous month. The M3 rose by 1.8 percent to AED 1.5 trillion in November.
7) Oil prices edged lower on Thursday, with Brent crude last down 0.3 percent at $64.4/bbl, while WTI crude fell 0.1 percent to $58.02/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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