What you need to know as UAE markets open on September 14

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

1) Properties Investment LLC, a joint venture owned 70 percent by Dubai Investments PJSC and 30 percent by Union Properties, said it plans to hand over 134 townhouses and 16 duplex apartments in stage 2 and 3 of its Green Community Dubai Investments Park-West Phase III project, by the end of 2017.

2) Dubai-listed Union Properties is planning to further diversify its operations and revenue sources by opening two new fully-owned subsidiary companies -- Union Malls and Al Etihad Hotel Management to manage its retail and hospitality businesses.

3) Dubai-listed Emirates Integrated Telecommunications Co. (du) shareholders have approved an interim cash dividend of AED 0.13 per share, a total distribution of AED 589.3 million, for the first half of 2017.

4) Hits Telecom Holding Co.'s name has changed to Aan Digital Services Holding Co., and its trading symbol now is 'AAN.'

5) Dubai-based contractor Drake & Scull International PJSC (DSI) has appointed Abdulla Atatreh as the new chairman and managing director on Wednesday, the company said after its newly-elected board members convened on Tuesday.

6) Oil prices slipped on Thursday, although Brent crude remained above $55-level. The benchmark grade was down 0.3 percent at $55.02, while WTI crude fell 0.2 percent to $49.22/bbl. The International Energy Agency (IEA) revised upwards its growth estimate to 1.6 million barrels per day (bpd), noting stronger-than-expected growth in demand.

7) Asian stocks were lower towards closing hours. Japan’s Nikkei 225 Index was last down 0.2 percent, Hong Hong’s Hang Seng Index fell 0.4 percent and China’s CSI 300 Index declined 0.2 percent.

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