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Most Gulf shares in red on regional uncertainty, shipping concerns
Most Gulf equity markets closed lower on Thursday as little progress in US-Iran diplomacy and persistent risks to Strait of Hormuz shipping unsettled investors. Concerns mounted after Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, warned in a state television interview on Wednesday that, should neighbouring countries cooperate with Washington to halt Iranian flights, Tehran would ensure their airports “cannot function.” Despite continued diplomatic engagement, divisions between Tehran and Washington over ending the conflict remain substantial. A senior Iranian official t...
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