What you need to know as UAE markets open on May 29

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

1) DXB Entertainments chief executive Raed Kajoor Al Nuaimi has been appointed CEO of a new entity to lead a development group that will manage multi-billion dollar projects across Dubai Holding and Meraas Holding, the Dubai-listed firm said. Nuaimi will continue as the CEO of DXB Entertainments until a new chief executive is appointed.

2) Dubai-listed retail firm Marka has appointed Benoit Lamonerie as chief executive officer, effective May 28.

3) Abu Dhabi-listed Dana Gas said its board has approved additional limited drilling activities in Egypt, after the company collected partial back-payments from the Egyptian government.

4) The UAE’s nuclear power plant in Barakah has received fuel assemblies required to generate electricity from its first unit, the Emirates Nuclear Energy Corporation (ENEC) said in a statement.

5) The fuel prices in the United Arab Emirates will decline by at least 2.5 percent in June, according to ministry of energy on Sunday announcement on Sunday.

6) Oil prices edged down on Monday, with Brent crude last trading down 0.2 percent at $52.06/bbl and WTI crude slipped 0.3 percent to $49.67/bbl.

7) Japanese stocks were positive towards closing hours, with Nikkei 225 Index last up 0.1 percent. China is closed for holiday.

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