What you need to know as UAE markets open on July 6

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

1) Saudi Arabia said Qatar's boycott will continue, "until Doha adjusts its position." The country's foreign minister said the Kingdom will take additional steps after consultation with Egypt, Bahrain and the UAE. The four countries cut diplomatic ties with Qatar last month, and had later sent Doha a list of 13 demands to end sanctions.

2) UAE’s real gross domestic product is expected to moderate to 2.2 percent in 2017 from an estimated 2.4 percent last year, due to lower crude production, in compliance with OPEC agreement to cut supply, National Bank of Kuwait said in a report.

3) Dubai-based Emirates Airline said that the in-cabin electronics ban on US-bound flights has been lifted for its flights traveling from Dubai International Airport.

4) Abu Dhabi-listed Union National Bank’s board of directors will meet on July 12 to discuss and approve Q2 2017 financial statements.

5) Dubai-listed Mashreq Bank has called a board meeting on July 16 to review its financial report for the second quarter of this year.

6) United Arab Bank, listed in Abu Dhabi, will review the Q2 2017 financial statements in its board meeting on July 12.

7) Oil prices edged up on Thursday, with both Brent crude and WTI crude up 0.8 percent at $48.16/bbl and $45.47/bbl, respectively, an hour before UAE markets opened.

8) Asian stocks were mainly negative towards closing hours. China’s CSI300 Index was last down 0.5 percent, Hong Kong’s Hang Seng Index fell 0.3 percent, and Japan’s Nikkei 225 Index lost 0.6 percent.

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