What you need to know as UAE markets open on June 8

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

1) Abu Dhabi-listed energy firm Dana Gas said it had received $40 million from the Egyptian government towards its outstanding receivables; its current receivables balance in Egypt now stands at $187 million.

2) Dubai-listed Emaar Properties said it plans to list its UAE real estate development business. Emaar will offer up to 30 percent of its UAE real estate development business through a share offering on the DFM. The funds raised through the sale of equity will be distributed as dividends to Emaar’s shareholders.

3) National International Holding Company said it has received cash dividends amounting to KWD 610,000, related to its investment in Weinig Company in Germany. The result of the transaction will reflect on Q2 2017 financial statements.

4) Al Ramz Capital has been appointed as a liquidity provider for Dubai-listed Gulf Navigation Holding’s shares after obtaining the necessary approvals from Dubai Financial Market (DFM) and signing the agreement on May 3, the two firms said in a joint statement.

5) China Construction Bank (CCB) has listed a $1.2 billion bond on Nasdaq Dubai. This is the second bond listing by the Hong Kong Branch of CCB on Nasdaq Dubai under the bank’s 6 billion US dollar medium-term note program.

6) Payment and remittance transactions in the UAE financial system are operating as normal, the UAE Central Bank said on Wednesday. The bank said it will continue to monitor the situation, in light of the latest regional developments, and will take necessary steps to maintain stability.

7) Crude oil prices edged up on Thursday, recovering from a sharp fall in the previous session amid higher US stockpiles. Brent crude was last up 0.8 percent at $48.42/bbl and WTI crude rose 0.6 percent to $46/bbl.

8) Asian stocks were mixed towards closing hours. Japan’s Nikkei225 Index was down 0.1 percent, while China’s CSI300 Index rose 0.4 percent and Hong Kong’s Hang Seng Index gained 0.2 percent.

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