What you need to know as UAE markets open on April 18

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

1) Emaar Properties shareholders have approved 15 percent cash dividend (AED 0.15 per share) for 2016. The annual general meeting also approved the launch of ‘employee incentive scheme’ that allows ownership of shares in the company.

In a separate statement the developer said that one of its board members, Marwan Abedin, has resigned “for personal reasons.”

2) Emaar Malls will hold its annual general meeting today. The agenda includes approval for the board’s proposal for 10 percent cash dividend for 2016.

3) Trading on Arabtec Holding shares is suspended today starting 11 am as its general assembly is being held. The contractor will seek shareholders’ approval for its capital restructuring program during the meeting.

4) Damac Properties shareholders have approved 25 percent cash dividend (AED0.25 per share) for 2016.

5) Today is the last trading date to be entitled for Dubai Investments cash dividend and bonus shares.

6) GFH Capital, a wholly-owned subsidiary of Dubai-listed GFH Financial Group, has signed a new investment in a US-based Data Center, with a market value exceeding $100 million.

7) Aldar Properties has launched The Bridges, a mid-market residential development project worth AED 1.3 billion. The Abu Dhabi-listed developer will release one tower for sale at Cityscape Abu Dhabi.

8) Oil prices edged up on Tuesday, ahead of UAE trading hours. Brent crude was last up 0.1 percent at $55.39/bbl and WTI crude was slightly positive at $52.65/bbl. 

9) Asian equities were mixed towards closing hours. Japan’s Nikkei225 Index rose 0.2 percent, and China’s CSI300 Index gained 0.1 percent. Hong Kong’s hang Seng Index was down 0.9 percent.

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