What you need to know as UAE markets open on October 31

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

1) Dubai-listed Emirates NBD reported a net profit of AED 2.28 billion for the third quarter of 2017, a 37 percent increase year-on-year (YoY), it said on Monday.

2) Emirates Islamic Bank’s third-quarter net profit came in at AED 111.7 million, compared to a net loss of AED 30.8 million in the same period last year.

3) Bahrain-based GFH Financial, which is listed in Dubai, on Monday said it is considering listing its shares in the Saudi Arabian market, pending regulatory approvals.

4) Emirates NBD has mandated Emirates NBD Capital, HSBC, Nomura, SG CIB, and Standard Chartered as joint lead managers and joint bookrunners for a five-year dollar-bond issuance under the bank’s existing $12.5 billion Euro Medium Term Note program. The banks will arrange fixed income investor meetings on Emirates NBD’s behalf starting Nov. 1, the lender said in a bourse statement.

5) Emirates Integrated Telecommunications Co. (du) posted a Q3 2017 net profit of AED 475.7 million, 4 percent higher YoY.

6) Dubai Investments has reported a net profit of AED 350.4 million for Q3 2017, a 5 percent increase YoY.

7) Dubai Financial Market recorded a Q3 net profit of AED 27.7 million, a 22 percent decline YoY. The bourse’s 9M 2017 net profit came in at AED 173.3 million.

8) Abu Dhabi-listed Arkan Building Materials Company reported a net profit attributable to owners of AED 11.2 million for the third quarter of 2017, down 24 percent YoY.

9) Dubai-listed Union Properties on Monday announced the formation of a new investment arm, UPP Capital Investment, as part of the real estate group’s diversification strategy.  

10) Oil prices were slightly lower on Thursday, but remained firm on OPEC-led efforts to reduce supplies. Brent crude remained above the $60 mark, last trading 0.3 percent lower at $60.74 per barrel (bbl). WTI was also down 0.3 percent at $53.98/bbl.  

Write to Jerusha Sequeira at jerusha.s@argaamnews.com