What you need to know as UAE markets open on November 16

16/11/2017 Argaam
by Nadeshda Zareen

 

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

 

1) United Arab Emirates-based budget carrier flydubai on Wednesday signed a deal with Boeing Co. for 225 737 MAX airplanes with a list price value of $27 billion.

 

2) Abu Dhabi-listed Invest Bank said it has acquired, on behalf of TC Blitz Ltd, 340 million shares or about 13.6 percent of Amanat Holding. Invest Bank also acquired another 65 million shares in Dubai-listed Amanat, about 2.8 percent of the firm.

 

3) Gulf Pharmaceutical Industries (Julphar) posted a net profit of AED 86 million for the first nine months of 2017, a decline from AED 157.2 million in 9M 2016.

 

4) Foodco Holding, listed in Abu Dhabi, posted a net profit of AED 11.4 million for Q3 2017, compared to AED 3.3 million in Q3 2016.

 

5) Crude oil recovered slightly on Thursday from the declines in the previous session. Brent crude was last trading up 0.2 percent at $61.98/bbl, and WTI crude rose 0.1 percent to $55.36/bbl.

 

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

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