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

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

1) Dubai-listed Emaar Properties said it has appointed Amit Jain its group chief executive officer, effective immediately.

2) Arabtec Holding said it has received regulatory approval to reduce its share capital from AED 6.1 billion to AED 1.5 billion. Today is the entitlement date (the last day of trading before restatement); ex-date will be June 28.

3) Integrated Capital (IC) has transferred GFH Financial shares, amounting 21 million, to Ajman Bank, GFH said in a bourse statement. Another tranche of 19.7 million GFH’s shares will be transferred by next week. IC will remain the beneficial owner of these shares. Its total direct and indirect shareholding in GFH remains at 13.383 percent.

4) Orient UNB Takaful will be listed today on Dubai Financial Market as public joint stock company. The firm had obtained registration certificate from Securities and Commodities Authorities on January 23. 

5) Dubai-listed Deyaar Development has signed an agreement with real estate marketing and consultancy company, UC Forward, to run roadshows in China showcasing Deyaar properties to Chinese investors.

6) Dubai-listed Amlak Finance said it has partnered with the Dubai Land Department (DLD), with the aim to increasing customers’ properties, enhancing the investment appetite for the Dubai real estate market, and stimulating growth in the sector.

7) UAE markets will close for Eid Al Fitr holidays starting June 24. Trading will resume either on June 28 or June 29, depending on the first day of Eid.

8) Crude oil remained under pressure on Thursday, after prices slipped below $45-mark in the previous session. Brent crude was last down 0.04 percent at $44.8/bbl and WTI crude fell 0.1 percent to $42.5/bbl.

9) Stock markets in Asia were mainly positive towards closing hours. Japan’s Nikkei225 Index was up 0.03 percent, China’s CSI300 Index rose 1.1 percent, and Hong Kong’s Hang Seng Index gained 0.5 percent.

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