What you need to know as UAE markets open on May 11

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

1) The United Arab Emirates (UAE) produced 208 million barrels of crude oil during the first quarter of 2017, compared with 211.73 million barrels in the same period last year, state news agency WAM reported.

2) Dubai-listed theme parks operator DXB Entertainments net loss grew to AED 292 million in the first quarter of 2017, compared to a loss of AED 38 million in the same period last year.

3) Arabtec Holding PJSC has appointment Gavin Appleby as managing director of EFECO, a wholly owned subsidiary of the Dubai-listed group.

4) Agility Public Warehousing Co. posted a net profit of KWD 14.6 million for Q1 2017, up 11 percent from same period last year. The firm is listed in Dubai and Kuwait.

5) Islamic International Rating Agency has upgraded Dubai-listed GFH Financial's national scale rating by a notch to BBB-/A3 and has maintained international scale rating at BB/B, along with "stable" outlook.

6) Brent crude climbed above $50-mark on Thursday, after Energy Information Administration (EIA) weekly data revealed a decline in US inventories. The benchmark grade was last trading up 0.5 percent at $50.46/bbl and WTI crude rose 0.5 percent to $47.57/bbl.

7) Asian stocks were mixed towards closing hours. Japan’s Nikkei 225 Index was last up 0.4 percent and Hong Kong’s Hang Seng Index gained 0.3 percent, while China’s CSI300 Index was last down 0.1 percent.

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