What you need to know as UAE markets open on July 18

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

1) Dubai-listed Deyaar Properties will pass a resolution by circulation on July 20, reviewing Q2 2017 financial statements, and approving bank facilities and loan securities.

2) Properties Investment LLC, a joint venture between Dubai Investments and Union Properties, said it has handed-over 76 townhouses in the stage 1 of its Green Community Dubai Investments Park-West Phase III, in line with the scheduled timeframe.

3) Abu Dhabi Islamic Bank’s board members will meet on July 23 to discuss and approve Q2 2017 financial statements.

4) Nasdaq Dubai-listed DP World has signed an agreement in Indonesia to advise on the development of two ports – the Kuala Tanjung greenfield port and logistics zone, and Belawan port in north Sumatra.

5) ADCorp, an Islamic bank established by Abu Dhabi Financial Group and GFH Financial Group, has started operations in Abu Dhabi Global Market.

6) UAE-based carriers Emirates and flydubai have announced a partnership that will include a codeshare agreement and schedule alignment, as part of efforts to boost growth.

7) Dubai-based ride-hailing service Careem said it has invested $500,000 in Egypt’s bus transportation network, Swvl, buying a minority stake in the startup.

8) Oil prices held steady on Tuesday, with Brent crude up 0.1 percent at $48.45/bbl and WTI crude rising slightly to $46.03/bbl, an hour before UAE markets opened.

9) Asian stocks were lower towards closing hours. Japan’s Nikkei225 Index was down 0.6 percent, China’s CSI300 Index fell 0.8 percent and Hong Kong’s Hang Seng Index was last down 0.2 percent.

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