What you need to know as UAE markets open on March 5

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

1) UAE purchasing managers’ index (PMI) rose to a 17-month high of 56.0 in February, driven by a sharp and accelerated increase in inflows of new work and expanding output.

2) Etisalat’s board members will meet March 8 to discuss issuing final dividends for 2016.

3) Dana Gas has said its BP-operated Mocha-1 well, drilled in the El Matariya (Block 3) onshore concession in Egypt has been completed.

4) Emaar Properties’ board meeting on March 6 will discuss dividend distribution for fiscal year 2016. The Dubai-listed company distributed 15 percent cash dividend in 2015.

5) Dubai-listed National Cement Co. board members have proposed cash dividend of 25 percent.

6) Abu Dhabi-listed United Arab Bank said one of its board members, Gerard Rizk, has resigned. Rizk represented the Commercial Bank.

7) The government of Hong Kong has listed $1 billion sukuk on Nasdaq Dubai.

8) ENBD REIT Limited, a shariah-compliant real estate investment trust, said it intends to offer its ordinary shares to trading on Nasdaq Dubai, after re-domiciliation to Dubai International Financial Center.

9) Oil prices ended last week positive, though Brent crude remained below the $56-mark as rising US inventories and rig count offset optimism from OPEC’s compliance to output deal. Brent rose 1.5 percent to $55.9/bbl and WTI crude was up 1.4 percent at $53.33/bbl.

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