MIDEAST STOCKS-UAE mostly quiet as Dana Gas soars on Iraqi Kurdistan deal:
"Stock markets in the United Arab Emirates were mostly quiet on Monday as they resumed trading after a long holiday weekend for Eid al-Adha, but Abu Dhabi-listed Dana Gas soared after it agreed on overdue payments from Iraqi Kurdistan’s government. Dana jumped 14.1 percent to 0.73 dirham, its highest level since early July, and was by far the market’s most heavily traded stock, accounting for over half of the day’s volume in Abu Dhabi. Iraqi Kurdistan agreed to immediately pay Dana’s gas production consortium $1 billion, including $400 million that will be used for investment in the region; Dana will receive 35 percent of the money."
'via Blog this'
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