What you need to know as UAE markets open on Sept. 26

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

1) Dubai-listed Arabtec Holding said its wholly-owned subsidiary has Target Engineering Construction Co. has been awarded an AED 196 million project by Emaar Properties for the main contract works of Phase 1 of Forte, the project in Downtown Dubai.

2) GFH said that Capital Intelligence Ratings has affirmed GFH’s Long‐Term Rating at ‘BB’ and the Short‐Term Rating at ‘B’.  The Outlook for GFH’s ratings remains ‘Stable’. 

3) Abu-Dhabi listed Dana Gas said its board of directors meeting will be held on Wednesday, Sept. 27, at its office in Sharjah.

4) Oil markets extended gains on Tuesday after prices rose more than 3 percent in the previous session. Brent crude hit a 26-month high as Turkey threatened to cut crude flows from Iraq's Kurdistan region. Brent crude for November delivery was last trading 0.5 percent at $59.29 per barrel (bbl), while WTI was 0.2 percent higher at $52.34/bbl.

5) Asian markets fell on Tuesday on the escalation of tensions in the Korean Peninsula.  Japan’s Nikkei 225 fell 0.4 percent at 20,389 points, while Hong Kong’s Hang Seng Index edged slightly lower. China’s CSI 300 was last down 0.2 percent.