What you need to know as UAE markets open on October 9

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

1) Abu Dhabi-listed telco Etisalat plans to invest more than AED 3 billion in 2017 to develop and modernize infrastructure and expand mobile and fiber optic networks, Internet of Things, artificial intelligence and robotics across the UAE, WAM reported, citing CEO Saleh Al Abdooli.

2) Dubai-listed Mashreq Bank will hold board meeting on Oct. 16 to review and approve its Q3 2017 financial statements.

3) Nasdaq Dubai-listed ENBD REIT said it acquired an office building in Dubai Internet City from developer SWEID & SWEID at a transaction value of AED 280 million ($76.2 million).

4) Moody's Investors Service on Monday said it is keeping its outlook for UAE's banking system at stable, reflecting economic resilience, strong capitalization, stable funding and liquidity conditions.

5) The UAE banking system has been ranked the top banking sector in the Gulf region in terms of assets in the first half of 2017. The total assets of the 48 banks operating in the country reached AED 2.66 trillion ($723 billion) for 2016, WAM reported.

6) Oil prices held stable on Monday, with Brent crude last up 0.2 percent at $55.75/bbl while WTI crude rose 0.3 percent to $49.45/bbl.

7) Stock markets in Asia were mixed towards closing hours. China’s CSI 300 Index was last up 1.9 percent, while Hong Kong’s Hang Seng Index declined 0.3 percent.

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