What you need to know as UAE markets open on August 3

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

1) The Emirates NBD UAE Purchasing Managers’ Index (PMI) rose to a three-month high of 56.0 in July from 55.8 in June, indicating an improvement in operating conditions in the non-oil private sector.

2) Abu Dhabi-listed Aldar Properties said its Q2 2017 net profit stood at AED 620 million, compared to AED 657 million in the same period last year.

3) RAK Ceramics reported a net profit of AED 101 million for Q2 2017, compared to AED 55 million in the same period last year.

4) Dubai-listed National Corporation for Tourism and Hotels said its net profit for the first six months of 2017 was AED 51.23 million, compared to AED 82.95 million in H1 2016.

5) Emirates Driving Co. recorded a net profit of AED 21.4 million for Q2 2017, compared to AED 29.4 in the same period last year.

6) ENOC Group has obtained a three-year unsecured revolving credit facility worth $500 million funded by regional and international banks, to support its growth over the next five years.

7) The actual spending of federal departments amounted to AED 8.92 billion during Q1 2017, with a 100 percent budget execution rate, according to a Ministry of Finance report.

8) Oil prices edged lower on Thursday. Brent crude was last down 0.4 percent at $52.16/bbl and WTI crude fell 0.4 percent to $49.41/bbl.

9) Asian stocks were mainly negative towards closing hours. Japan’s Nikkei 225 Index was last down 0.2 percent, China’s CSI300 Index fell 0.5 percent, and Hong Kong’s Hang Seng Index declined 0.2 percent.

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