What you need to know as UAE markets open on May 25

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

1) Agility Public Warehousing Co. said it has settled a criminal case involving the US government food supply contracts that the company held from 2003 to 2010. In the criminal portion of the case, Agility agreed to plead to a misdemeanor in connection with a single invoice valued at KWD 167. The company is listed in Dubai and Kuwait.

2) Dubai-listed Emaar Malls has agreed to acquire a 51 percent stake in e-commerce fashion platform Namshi for $151 million, the shopping mall operator said in a statement.

3) Dubai Parks and Resorts, which is operated by Dubai-listed DXB Entertainments, announced a ticket price of AED 95 for a visit between 8 pm and midnight during the month of Ramadan.

4) Industrial and Commercial Bank of China (ICBC) has listed three bonds on Nasdaq Dubai. ICBC listed two bonds of $400 million and $300 million, respectively, as well as a bond of 500 million euros, the exchange said in a statement.

5) Oil prices climbed on Thursday on expectations that OPEC and non-OPEC producers will extend the output deal by another nine months, during their meeting today. Brent crude was last up 0.8 percent at $54.38/bbl and WTI crude gained 0.7 percent to reach $51.73/bbl.

6) Asian equities were mainly positive towards closing hours. Japan’s Nikkei225 Index rose 0.4 percent, Hong Kong’s Hang Seng Index gained 0.6 percent and China’s CSI300 Index added 0.7 percent.

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