What you need to know as UAE markets open on July 2

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

1) GFH Financial said it has signed an agreement with SICO to act as market maker for GFH's shares, with regard to further acquisition of treasury shares by GFH.

2) Abu Dhabi-listed First Abu Dhabi Bank said it has appointed Martyn Hoccom as acting group treasurer.

3) Dubai-listed National Central Cooling Co. (Tabreed) has signed an Islamic finance facilities agreement of AED 1.5 billion to refinance a part of its senior bank debt.

4) The UAE was ranked 28th in Wealth-X report for 2016 on the world’s ultra-high net worth (UHNW) population, or those with $30m or more in net worth.

5) Oil prices closed on Friday with gains. Brent crude added 2.4 percent to reach $48.77/bbl and WTI crude climbed 2.5 percent to $46.04/bbl.

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