What you need to know as UAE markets open on November 15

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

1) Dubai-listed Drake and Scull International (DSI) net loss widened to AED 317.6 million in Q3 2017, compared to a loss of AED 46.3 million in the same period last year.

2) Dubai-listed Dar Al Takaful posted a net profit of AED 3.9 million for Q3 2017, compared to AED 2.8 million in the same period last year.

3) Orient UNB Takaful, listed in Dubai, reported a net profit of AED 1.5 million for Q3 2017, an increase from a profit of AED 303,311 in the same period last year.

4) Al Madina for Finance and Investment Co. swung to net profit of KWD 568,531 in Q3 2017, from a loss of AED 656,157 in Q3 2016. The firm is listed in Dubai and Kuwait.

5) Dubai-listed Air Arabia said it has signed a long-term, full engine support contract for its growing Airbus A320 fleet with Air France Industries KLM Engineering & Maintenance. The contract covers engine maintenance of Air Arabia’s current and expanding fleet of 50 A320 aircraft.

6) Abu Dhabi National Oil Company (ADNOC) said it has signed an agreement to increase production capacity at the Upper Zakum oil field to 1 million barrels per day by 2024.

7) Crude oil fell below $62-mark on Wednesday over renewed fears of oversupply. Brent crude was last down 1.4 percent at $61.37/bbl, and WTI crude fell 1.2 percent to $55.04/bbl.

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