What you need to know as UAE markets open on March 30

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

1) Today is last trading day for First Gulf Bank before its merger with National Bank of Abu Dhabi. FGB and NBAD merger will be declared effective at close of trading and FGB shares will be delisted. NBAD shares, including 5.64 billion new NBAD ordinary shares issued to FGB shareholders, will start trading on April 2.

2) Emaar Properties will hold its annual general meeting on April 17. Shareholders will discuss the board’s proposal of 15 percent cash dividend (AED 0.15 per share) for 2016.

3) Damac Properties has called its annual general meeting on April 16. The agenda includes approval for board’s proposal of 25 percent cash dividend (AED 0.25 per share) for 2016.

4) Ajman Bank shareholders have approved board of directors’ proposes dividend of 3.5 percent bonus shares. Ex-dividend date is April 6.

5) Aramex has appointed Abdullah Al Mazrui as chairman of board for a three-year term. Ahmed Fahour, representative of Australia Post Transaction Services, has been appointed vice-chairman.

6) Abu Dhabi-listed Agthia Group has completed the acquisition of Delta Bottled Water Factory Co. LLC, providing Agthia with a water business in Saudi Arabia. The transaction is expected to close in April.

7) Oil prices extended gains on Thursday after hitting a three-week high in the previous session. Brent crude was last up 0.2 percent at $52.53/bbl and WTI crude rose 0.4 percent to $49.7/bbl.

8) Asian equities were mainly negative towards closing hours. Japan’s Nikkei 225 Index was last down 0.4 percent, Hong Kong’s Hang Seng Index fell 0.5 percent and China’s CSI300 Index was last trading lower by 1 percent.

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