What you need to know as UAE markets open on May 18

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

1) Damac Properties said its managing director Ziad El Chaar has resigned from his post. The Dubai-listed developer also announced that Ossama Wassim Abbas will take up responsibilities of general manager-sales.

2) Abu Dhabi-listed Dana Gas said it has received an initial payment of $50 million from the Egyptian government as partial payment of its outstanding receivables. The payment represents 18 percent of Dana Gas Egypt's total overdue receivables of $283 million at the end of Q1 2017.

3) Abu Dhabi Securities Exchange (ADX) has granted Shuaa Capital International Ltd., a subsidiary of Shuaa Capital, a license to serve as market maker on the exchange.

4) The UAE’s holdings of US Treasuries grew by $800 million to $60.7 billion at the end of March, new data released by the US Treasury showed.

5) UAE central bank foreign assets declined by 2 percent at the end of April to AED 317.4 billion, compared to AED 323.7 billion in April last year, the bank’s data showed.

6) Crude oil prices declined on Thursday, with Brent holding slightly above the $52-mark. The benchmark grad was last trading down 0.4 percent $52.01/bbl and WTI crude fell 0.2 percent to $48.9/bbl.

7) Asian equities were mainly negative towards closing hours. Japan's Nikkei 225 Index last was trading down 1.6 percent, China's CSI300 Index slipped 0.2 percent and Hong Kong's Hang Sang Index lost 0.2 percent.

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