What you need to know as UAE markets open on December 12

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

1) The shares of ADNOC Distribution will be listed on Abu Dhabi Securities Exchange (ADX) tomorrow under symbol ADNOCDIST, within the energy sector.

2) Dubai-listed Arab Insurance Group said it will hold a board meeting on Feb. 13, 2018, to discuss financial reports for fiscal year 2017.

3) The total cash deposits placed at the UAE Central Bank rose to AED 223.26 billion in 11 months, a growth of 9 percent from AED 204.8 billion by end of October, WAM reported.

Withdrawals from the Central Bank amounted to nearly AED 223 billion in 11 months, an increase of 11.3 percent from AED 206.6 billion during January through the end of October.

4) An AED 500 million agreement has been signed to develop the Port of Fujairah infrastructure. The move is part of Abu Dhabi Ports' earlier agreement to develop Fujairah Terminals, including deepening of berths and establishing quays and storage areas.

5) Brent crude rose above the $65-mark on Tuesday, for the first time since 2015, following reports that Britain’s Forties oil pipeline will be shut down after cracks were found in it. Brent crude was last trading up 1.1 percent at $65.43/bbl, while WTI crude rose 0.6 percent to $58.36/bbl.

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