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

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

1) Abu Dhabi-listed Union National Bank reported a net profit of AED 410 million for Q3 2017, holding stable at the same level as in the same period last year.

2) Dubai-listed Aramex said its chief financial officer, Bashar Obeid, will retire by Feb 28, 2018. Nadia Abusarah has been named interim chief financial officer.

3) Dubai-listed Marka’s shareholders approved that the company continue operations.

4) Damac Properties, listed in Dubai, will hold a board meeting on Oct. 17 to review and approve its Q3 2017 financial results.

5) Nasdaq Dubai-listed DP World’s chairman Sultan Ahmed Bin Sulayem and President Danilo Medina of the Dominican Republic have discussed the expansion of DP World’s Caucedo port operations, including its logistics park and quay side facilities.

6) Standard & Poor’s has forecast Abu Dhabi GDP to rise to AED 850 billion and AED 890 billion at current prices in 2017 and 2018, respectively, attributing the growth to the momentum in the oil and non-oil sectors since the beginning of this year.

7) Oil prices ended last week on a positive note. Brent crude was up 1.6 percent at $57.17/bbl while WTI crude rose 1.7 percent to $51.45/bbl.

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