What you need to know as UAE markets open on July 27

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

1) First Abu Dhabi Bank posted a net profit of AED 2.56 billion for the second quarter of 2017, down 4 percent year-on-year (YoY).

2) Abu Dhabi-listed Etisalat said its net profit for Q2 2017 amounted to AED 2.2 billion, a YoY increase by 6 percent and 7 percent higher compared to Q1.

3) Telecom firm Ooredoo posted a net profit of QAR 513 million for Q2 2017, a decrease by 12 percent YoY. The company is listed in Abu Dhabi and Qatar.

4) Abu Dhabi-listed Agthia Group reported a net profit of AED 65.8 million in Q2 2017, compared to a profit of AED 77.9 million the same period last year.

5) RAK Properties, listed in Abu Dhabi, posted a net profit of AED 21.8 million in Q2 2017, compared to a profit of AED 20.2 million the same period last year.

6) Dubai-listed National Central Cooling Co. (Tabreed) said its net profit increased by 20 percent YoY to AED 192.7 million in first half of 2017.

7) Dubai-listed Emirates NBD will remain profitable despite challenges including the loss of its market leader position, the softer economy and rising interest rates, Moody’s Investors Service said.

8) Real estate developer Nakheel reported a net profit of AED 2.64 billion for the first six months of 2017, compared with AED 2.95 billion during the same period in 2016.

9) Dubai Insurance Co. posted a net profit of AED 12.2 million for Q2 2017, compared to AED 5.5 million in the same period last year.

10) DXB Entertainments said Fayez Mohamed Al-Boainin has resigned from the Dubai-listed company’s board of directors.

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