UAE financial markets to close til Sept 23 or 24

UAE financial markets will close to mark the Eid-al-Fitr holiday next week and reopen on either September 23 or September 24, depending on the start of the next month in the Islamic lunar calendar, an official said on Thursday. The Emirates Securities and Commodities Authority (SCA) said it made the decision in coordination with all financial markets. State news agency WAM said this week that Eid will start for the public sector on September 19 and work for federal ministries and departments will resume on Wednesday September 23. The timing of Eid, which marks the end of the holy fasting month of Ramadan, can vary in different countries depending on the sighting of the new moon, which marks the start of the month in Islam's lunar calendar.