What you need to know as UAE markets open on April 10

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

1) The Emirates NBD Dubai Economy Tracker Index rose to 56.6 in March from 56.2 in February, on the back of stronger output and new work growth.  The index for Q1 2017 averaged 56.7, indicating the fastest rate of growth in Dubai’s non-oil private sector since first quarter of 2015.

2) Abu Dhabi-listed Agthia Group said it is entering a joint venture with US-based exporter, Anderson Hay & Grain Co. to import and distribute Anderson’s forage products in the UAE and other Gulf states.  In a separate statement, Agthia said it will hold its general assembly meeting on April 26; the agenda includes approval for 15 percent cash dividend for 2016.

3) Etisalat’s shareholders have approved the board’s recommendation to pay full 2016 dividends of AED 0.80 per share.

4) Abu Dhabi-listed Dana Gas has will hold its general assembly meeting on April 13, as quorum was not met for April 8 meeting.

5) Emaar Properties has launched Urbana III, a residential complex that is part of its Emaar South development.

6) Nasdaq Dubai-listed ports operator DP World is planning to increase the capacity of Egypt’s Sokhna port located south of Suez Canal, off the Red Sea coast, Egypt’s official State Information Service reported.

7) Azizi Developments has awarded two construction contracts, worth AED1.7 billion, for its multi-phase project in Dubai’s Meydan One. The contracts were awarded to KCC Engineering Construction & Maintenance and Actco General Contracting, and relate to two of the four phases of the project that are due to begin this year.

8) Oil prices rose amid fears of regional supply disruption following US airstrikes on Syria. Brent crude was last up 0.1 percent at $55.32/bbl and WTI crude rose 0.3 percent to $52.38/bbl.

9) Asian stocks were mixed towards closing hours on Monday. China’s CSI300 Index was down 0.1 percent, while Japan’s Nikkei225 Index rose 0.6 percent.

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