What you need to know as UAE markets open on April 24

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

1) Abu Dubai-listed Eshraq Properties said its board has confirmed investing AED 50 million in Terra Real Estate Investments LLC.  Terra owns built properties in the UAE and some of these will be used to seed a real estate investment trust, to be known as Etihad REIT.

2) Commercial Bank of Dubai said its Q1 2017 net profit fell 33.5 percent year-on-year to AED 160.1 million.

3) Abu Dubai-listed Union National Bank said one of its board members, Ahmed Saeed Al Badi, has resigned from the board.

4) Bank of Sharjah will hold its annual general meeting on April 29 to seek approval for the board's proposal for 7.66 percent cash dividend for 2016.

5) First Gulf Bank, now delisted, reported a net profit of AED 1.1 million for first quarter of 2017, compared to AED 1.3 million in the same period last year.

6) Telecom operator Ooredoo, listed in Abu Dhabi and Qatar, said it plans to list 40 percent of Ooredoo Maldives shares on Maldives Stock Exchange.

7) Oil prices recovered as markets reopened Monday. Brent crude was last up 0.5 percent at $52.23/bbl and WTI crude rose 0.5 percent to $49.85/bbl.

8) Asian stocks were mixed towards closing hours. Japan's Nikkei last was up 1.3 percent, while China's CSI300 Index fell 1.3 percent.

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