What you need to know as UAE markets open on August 21

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) has called a general assembly meeting on Sept 4. The agenda includes a report on the company’s capital reduction program.

Separately, DSI said its general contracting subsidiary, Gulf Technical Construction Company, has been awarded an AED 175 million contract by Orion Real Estate Development LLC to build the West Bay residential tower in Dubai’s Business Bay area.

2) Dubai-listed Emaar Properties announced plans for a new 11 million square meter mall at its Dubai Hills Estate community, which is a joint venture with Meraas Holding.

3) Dubai Aerospace Enterprise (DAE) Ltd. said it has completed the acquisition of the Dublin-based AWAS group of companies.

4) Oil prices were lower on Monday, an hour before UAE markets opened. Brent crude was last down 0.1 percent at $52.68/bbl, while WTI crude was slightly negative at $48.50/bbl.

5) Asian stocks were mixed towards closing hours. Japan’s Nikkei 225 Index was last down 0.4 percent while China’s CSI 300 Index rose 0.3 percent and Hong Kong’s Hang Send Index gained 0.5 percent.

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