What you need to know as UAE markets open on March 13

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

1) Shuaa Capital is preparing to acquire Integrated Capital and Integrated Securities from Integrated Financial Group. The transaction remains subject to regulatory approval and is expected to close in the coming weeks, the DFM-listed firm said.

2) Arabtec Holding has scheduled its annual general meeting on April 18 to present its recapitalization program update to the shareholders.

3) Dubai-listed Al Ramz Corporation Investment and Development shareholders will meet on April 12 to discuss 5 percent cash dividend proposal for 2016.

4) Abu Dhabi-listed Finance House shareholders have approved cash dividend of 6 percent for the year 2016.

5) Abu Dhabi’s February inflation rose by 2.1 percent year-on-year, Abu Dhabi Statistics Center data.

6) Oil renewed its decline on Monday, with Brent edging closer to the $50-mark, after US rig count rose for the eighth consecutive week. The global benchmark was down 0.7 percent at $51.02/bbl and WTI crude fell 0.9 percent to $48.07/bbl, an hour before UAE markets opened.

7) Asian stocks edged up towards closing hours. Japan’s Nikkei 225 Index was last up 0.1 percent and China’s CSI300 Index added 0.6 percent. Hong Kong's Hang Seng Index gained 0.9 percent.

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