What you need to know as UAE markets open on December 25

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

1) National Industries Group (NIG), cross-listed in Dubai, has signed a contract with its partners through one of its subsidiary companies to sell its entire stake in Jordan's Airport International Group to a consortium led by Group Airport De Paris. NIG expects a net profit of KWD 15.9 million from the deal, to reflect in 2017 full-year financial reports.

2) Dubai-listed Amanat Holdings has scheduled a board meeting on Dec 27 to approve investment opportunities and decide on new strategies.

3) Orient UNB Takaful, listed in Dubai, will decide on Dec 27 on plans to change the methods of policy issuance expenses and transfer from the contribution account to shareholders account.

4) The interest rates charged by the Emirates Inter-Bank Offered Rate (EIBOR) set for one-month period posted a rise of 19 percent over the past two months, surging to 156 points on December 24 from 131 points in early November, according to UAE Central Bank figures. The one-year EIBOR rose by 13.5 percent, during the same period, up from 221 points to 251 points.

5) Ruler of Ajman Sheikh Humaid bin Rashid Al Nuaimi approved the emirate’s general budget for 2018, with expenses totaling AED 1.4 billion, 16 percent higher than the 2017 budget.

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