What you need to know as UAE markets open on December 24

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

1) Dubai-listed Takaful Emarat will hold a board meeting on December 26 to discuss updates on the acquisition of Hilal Takaful, and review the recommendations of the remuneration committee.

2) National International Holding Co. (NIH), cross-listed in Dubai, said it has sold an investment in an associate company for KWD 3.96 million, receiving shares in an unlisted Kuwaiti firm for the same amount.

3) The International Monetary Fund (IMF) is expecting Dubai’s real estate market to gradually recover, in tandem with the overall economic growth projected for the emirate from next year, said Natalia Tamirisa, IMF Mission Chief to UAE.

4) The Industrial Production Index (IPI) for Abu Dhabi increased 6.1 percent year-on-year during Q3 2017. The IPI, which is calculated on a quarterly basis, covers the manufacturing sector, WAM reported.

5) Chinese ride-hailing firm Didi Chuxing Technology Co has raised $4 billion in funds earmarked for expansion overseas and into areas such as artificial intelligence (AI), Reuters reported. The fundraising involved Abu Dhabi state fund Mubadala Capital, the news agency said, citing two people familiar with the deal.

6) Oil prices closed last week with gains. Brent crude added 0.5 percent to reach $65.25/bbl, while WTI crude rose 0.2 percent to $58.47/bbl.

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