What you need to know as UAE markets open on November 22

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

1) Emaar Development shares will be listed on Dubai Financial Market today at 10 am, following the IPO earlier this month.

Separately, Nasdaq Dubai said it will add Emaar Development to its futures market soon after the company lists its shares on DFM.

2) Dubai-listed Deyaar Development will hold a board meeting on Nov. 26 to review and discuss its budget for 2018.

3) GFH Financial said it has initiated discussions on the process and requirements of cross-listing on the Saudi Stock Exchange (Tadawul). GFH is currently listed in Dubai and Bahrain.

4) The asset value of 48 banks operating in the UAE amounted to around AED 2.3 trillion ($720 billion) by the end of September, WAM reported, citing UAE Central Bank statistics. First Abu Dhabi Bank held asset value of $175 billion during Q3 2017, a growth of 2.9 percent from the end of H1 2017.

5) Dubai's economy is expected to grow by 3 to 4 percent in the 2017-2018, according to Hamad Buamim, president and CEO of Dubai Chamber of Commerce and Industry.

6) Oil prices edged higher on Wednesday supported by the expectations that OPEC will chose to extend the output deal beyond March 2018. OPEC members are scheduled to meet in Vienna next week. Brent crude was last up 0.6 percent at $62.96/bbl while WTI crude rose 1.5 percent to $57.68/bbl.

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