What you need to know as UAE markets open on August 10

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

1) Dubai-listed Amanat Holdings reported a net profit of AED 25 million for H1 2017, a growth of 4.8 percent year-on-year (YoY).

2) National International Holding Co. has sold a stake in an associate company for KWD 3.25 million. The impact of the transaction will be reflected on Q3 2017 financial statements. The firm is listed in Dubai and Kuwait.

3) Dubai-listed DXB Entertainments’ net loss widened to AED 286.2 million in Q2 2017, compared to a loss of AED 41.3 million in the same period last year.

4) Al Madina For Finance and Investment reported a net profit of KWD 647,563 for H1 2017, down 61 percent YoY. The firm is listed in Dubai and Kuwait.

5) Abu Dhabi-listed AXA Green Crescent Insurance Co.’s losses widened to AED 20.7 million in Q2 2017 from AED 5.4 million in the same period last year.

6) Dubai-listed Marka’s board members will hold a resolution by circulation on August 14 to approve the company’s Q2 2017 financial statements.

7) Oil prices edged lower on Wednesday. Brent crude was last trading down 0.02 percent at $52.69/bbl and WTI crude fell 0.04 percent to $49.54/bbl.

8) Asian stocks were mainly negative towards closing hours. Japan’s Nikkei 225 Index was last down 0.2 percent, China’s CSI 300 Index fell 1 percent, and Hong Hong’s Hang Seng Index declined 1.6 percent.

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