What you need to know as UAE markets open on July 24

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

1) Abu Dhabi Islamic Bank (ADIB) said its net profit for Q2 2017 increased by 8.7 percent year-on-year (YoY) to AED 551.6 million.

2) National Bank of Ras Al Khaimah (RAK Bank) reported a net profit of AED 226.7 million for Q2 2017, an increase by 16 percent YoY.

3) National Bank of Umm Al-Qaiwain (NBQ) said its Q2 net profit rose 9 percent year-on-year to AED 210.6 million, driven by increase in interest income and higher fee income, along with effective recovery strategies.

4) Dubai-listed National International Holding Co. reported a net profit of KWD 1.2 million for H1 2017, down 56 percent YoY.

5) Al Mazaya Holding Co., listed in Dubai, posted a net profit of KWD 4.2 million for H1 2017, up 0.9 percent from the same period last year.

6) Dubai-listed Deyaar Development has appointed Belhasa Engineering and Contracting Co. as main contractor for its Midtown Afnan and Dania districts, in a contract worth AED 600 million.

7) Abu Dhabi-listed International Fish Farming Holding Co. said it has entered into negotiations with a strategic partner for a joint venture to expand its commercial and seafood business through investment in a separate entity.

8) Government-controlled Dubai Aerospace Enterprise (DAE) on Sunday said it has priced $2.3 billion in senior bonds split across three tranches.

9) The total foreign currency supply at the UAE Central Bank surged to AED 338.34 billion by the end of June, a growth of AED 47.6 billion from early 2017, according to statistics issued by the bank.

10) Crude oil prices edged up on Monday. Brent crude was last up 0.2 percent at $48.14/bbl, while WTI crude rose 0.1 percent to $45.81/bbl. 

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