What you need to know as UAE markets open on Feb. 16

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

1) Dubai-listed Emirates Invest Bank reported a net profit of AED 33.9 million, up 21 percent year-on-year.

2) Al Salam Bank-Bahrain, listed in Dubai, posted a net profit of BHD 16.2 million for 2016, compared to BHD 12.3 million the previous year.

3) Emirates Integrated Telecommunications Co. (du) has proposed a final dividend of AED 0.21, taking the annual dividend to AED 0.34 per share including AED 0.13 interim dividend paid in October.

4) The Dubai Land Department and Nasdaq Dubai have signed a memorandum of understanding to facilitate the listing of real estate companies and firms in real estate-related asset classes.

5) Nasdaq Dubai has welcomed the listing of a $1 billion sukuk by Dubai Islamic Bank.

6) Oil prices remained stable with OPEC’s compliance with output cuts offering confidence, while increase in US stockpiles weighed on sentiments. Brent crude was last slightly down at $55.74/bbl and WTI crude slipped 0.1 percent to $53.05/bbl.

7) Asian stocks were mixed towards closing hours, with Japan’s Nikkei225 Index down 0.7 percent, Hong Kong’s Hang Seng Index up 0.4 percent and China’s CSI300 Index up 0.3 percent.

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