What you need to know as UAE markets open on April 3

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

1) The new lender formed following the merger of First Gulf Bank and National Bank of Abu Dhabi has been named First Abu Dhabi Bank, it said in a statement. The name is subject to regulatory and shareholders approvals.

2) Dubai-listed Unikai Foods’s shareholders have approved 10 percent cash dividend and 7 percent bonus shares for the fiscal year 2016.

3) Abu Dhabi-listed Commercial Bank International has appointed Mohammad Sultan Al Qadi as chairman of the board; Ali Ahmed Al Kuwari has been appointed vice-chairman.

4) Dubai-listed Mashreq Bank’s board of directors will meet on April 12 to review and approve Q1 2017 financial results.

5) Oil prices edged lower on Monday, amid rising US rig count. Brent crude was down 0.3 percent at $53.39/bbl and WTI crude fell 0.2 percent to $50.51/bbl.

6) Asian equities were mainly positive towards closing hours on Monday. Japan’s Nikkei225 Index was last up 0.3 percent, China’s CSI300 Index rose 0.6 percent, and Hong Kong’s Hang Seng Index gained 0.3 percent.

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