What you need to know as UAE markets open on July 12

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

1) Dubai-listed Emaar Properties has invited contractors to bid for construction package for roads and general infrastructure at the Dubai Creek Harbor project, by July 13, according to a MEED report.

2) Abu Dhabi-listed Sharjah Group Co. has called a board meeting on July 18 to discuss financial statements for the first half of this year.

3) National Bank of Fujairah, listed in Abu Dhabi, will hold a board meeting on July 16 to approve financial statements for H1 2017.

4) Moody’s Investor Service has affirmed the A2 long-term issuer rating of telecommunication firm, Ooredoo, with a stable outlook.

5) Dubai has announced an AED 5.5 billion Food Park project, in Dubai Wholesale City. The food complex will promote Dubai’s competitiveness as a regional leader in the food sector.

6) Oil prices extended gains on Wednesday, amid reports of a decline in US crude inventories by American Petroleum Institute. Brent crude was last up 1.4 percent at $48.19/bbl and WTI crude rose 1.6 percent to $45.77/bbl.

7) Asian stocks were mixed towards closing hours. Japan’s Nikkei225 Index was last down 0.6 percent, while China’s CSI300 Index rose 0.1 percent and Hong Kong’s Hang Seng Index gained 0.8 percent.

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