What you need to know as UAE markets open on September 17

Here are some things you need to know as markets open today in the United Arab Emirates.

1) Abu Dhabi-listed RAK Bank said it arranged AED 125 million credit facility for Reem Finance.

2) Chairman Nasdaq Dubai-listed DP World, Sultan Ahmed Bin Sulayem, met with Hong Kong’s chief executive, Carrie Lam, to discuss collaboration in sectors including ports, logistics and customs.

3) Dubai’s real estate market remains a safe-haven for Saudi Arabian investors as major developments continue to support its economy, said Okbah Abdulkarim, chief operating officer of ARTAR Real Estate Development.

4) The diplomatic dispute between Qatar and some other GCC countries is credit negative for the entire region, particularly Qatar and Bahrain, Moody’s Investor Service said in a report.

5) Moscow is playing a key role in efforts to maintain balance of the energy market, said United Arab Emirates’ energy minister Suhail Al Mazrouei.

6) Oil prices closed last week in the positive zone. Brent crude rose 0.3 percent to $55.62/bbl, while WTI crude was in the green at $49.89/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com