What you need to know as UAE markets open on April 17

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

1) United Arab Bank posted a net profit of AED 27.8 million for first quarter of 2017, down 38 percent year-on-year (YoY).

2) Sharjah Islamic Bank posted a net profit of AED 139.1 million for Q1 2017, up 6 percent YoY.

3) Eshraq Properties has signed a term sheet with Mubadala Development Co. to explored establishing a joint real estate development company in Abu Dhabi to develop plots on Al Marayah and Reem Islands.

4) Dubai-listed contractor Arabtec Holding has appointed Peter Pillars as group chief financial officer.

5) Emaar properties will hold its annual general meeting today. The agenda includes approval for the board’s proposal for 15 percent cash dividend (AED 0.15 per share) for 2016.

6) Abu Dhabi-listed Gulf Pharmaceutical Industries (Julphar) shareholders have approved 16 percent cash dividend (AED 0.16 per share) for 2016.

7) Oil prices slipped on Monday as markets reopened after a three-day break. Both Brent crude and WTI crude were last trading down 0.8 percent at $55.44/bbl and $52.74/bbl, respectively. 

8) Asian equities were mixed towards closing hours. Japan’s Nikkei225 Index rose 0.1 percent, while China’s CSI300 Index fell 0.9 percent. 

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