8 things to watch as UAE markets open

Here is what you need to know as the opening bell rings in the United Arab Emirates.

1) Dubai-listed Arabtec Holding has scheduled a board meeting on Dec. 28 to discuss updates for the company’s projects and businesses, among other matters.

2) Al Madina for Finance and Investment said it has settled debts amounting to KWD 4.9 million, which were due by its subsidiary Sarh Capital Real Estate Co. The company is listed in Dubai and Kuwait.

3) Dubai-listed Deyaar Development will hold a board meeting on Dec. 28 to discuss the proposed settlement with Lagoons L.L.C. in relation to the plots owned by Deyaar. The meeting will also assess bank facilities from Dubai Islamic Bank.

4) Abu Dhabi-listed Eshraq Properties said one of its board members, Yasser Hamad Alsagayer, has resigned from his post. He has been replaced by Khaled Abdulaziz Almazed.

5) Emirates Development Bank has approved an estimated budget of AED 1.5 billion for 2017, with the aims to finance housing loans for Emirati citizens and to help establish small and medium enterprises.

6) Abu Dhabi Securities Exchange said it plans to introduce short-selling by next year, with the aim to boost liquidity and attract more foreign investors.

7) Oil prices were mixed as trading resumed on Tuesday, following Christmas holidays. Brent crude was last slightly lower at $55.15/bbl and WTI crude was up 0.2 percent to $53.14/bbl, an hour before UAE markets opened.

8) Asian stock saw only slight changes on Tuesday towards their closing hours, with Japan’s Nikkei 225 Index and China’s CSI300 Index both up 0.2 percent each, Hang Kong’s Hang Seng Index fell 0.3 percent.

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