What you need to know as UAE markets open on March 29

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

1) Emaar Malls has called its annual general meeting on April 18. The agenda includes approval for board’s proposal of 10 percent cash dividend (AED 0.1 per share) for 2016.

2) Gulf Pharmaceutical Industries (Julphar) plans to open a factory in Saudi Arabia soon. The company’s expansion plans include 34 countries around the world, and it plans to export more than 90 per cent of its products, managing director Hosam Badr told WAM.

3) Abu Dhabi-listed Agthia Group has completed the acquisition of Delta Bottled Water Factory Co. LLC, providing Agthia with a water business in Saudi Arabia. The transaction is expected to close in April.

4) Dubai-listed Al Mazaya shareholders have approved 8 percent cash dividend (8 Kuwaiti fils per share). The stock goes ex-dividend today.

5) Emirates Global Aluminium, one of the world’s top five producers, has mandated Bank of America Merrill Lynch, Goldman Sachs and JP Morgan to advise on its planned initial public offering, Reuters reported, citing sources.

6) Dubai-listed International Financial Advisor said an associate of its subsidiary IFA Hotels & Resorts has opened a hotel at Charles de Gaulle Airport in Paris.

7) Global e-commerce giant Amazon has agreed to acquire online retailer Souq.com, marking its move to the Middle East, the two companies said in a joint statement Tuesday, without mentioning a value for the deal.

8) The UAE Central Bank said the number of member on the EIBOR panel will reduce from 11 to 10 starting today, after First Gulf Bank’s exit in the wake of its upcoming merger with National Bank of Abu Dhabi.

9) The UAE is said to be in talks with Saudi Arabia to export its oil through Fujairah port, news agencies reported.

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