What you need to know as UAE markets open on May 22

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

1) Abu Dhabi-listed Dana Gas said it has received $20 million from the Egyptian government as another partial payment of its outstanding receivables. The payment, along with previous payment of $50 million, represents 25 percent of Dana Gas Egypt’s total overdue receivables of $283 million at the end of Q1 2017.

2) Dubai-listed Arabtec Holding said its subsidiary, Arabtec Construction, has won an AED 1.46 billion contract from Wasl LLC to construct 2020 Tower, a mixed-use high-rise tower in central Dubai.

3) Abu Dhabi-listed Manazel Real Estate said its shareholders have approved a 4 percent cash dividend for the financial year 2016.

4) RAK Bank, listed in Abu Dhabi, said it has extended remittance services to Pakistan, through RAK Money Transfer facility.

5) Subscription in Dubai-listed Dar Al Takaful capital increase ends today.

6) Dubai Financial Market (DFM) has concluded its international investor roadshow in London. The event included meetings between representatives of 14 Dubai-listed companies and 52 London-based international institutions with $2.3 trillion of assets under management.

7) Crude oil extended gains from last week, rising ahead of the May 25 meeting between OPEC and non-OPEC producers. Both Brent crude and WTI crude were last up 0.9 percent at $54.07/bbl and $50.8/bbl, respectively.

8) Asian equities were mainly positive towards closing hours on Monday. Japan’s Nikkei225 Index was up 0.5 percent, Hong Kong’s Hang Seng Index rose nearly 1 percent, and China’s CSI300 Index was last trading higher by 0.1 percent.

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