The ADX General Index dived 1.11% Sunday to close at 2,480.84. Energy and banking shares were sold in particular. The sheikhdom's first oil and gas company Abu Dhabi National Energy Co. or Taqa plummeted 6.25% to hit Dhs1.20 after oil prices fell to a 9-month low last week. Dana Gas from Sharjah closed flat at Dhs0.38. Earlier in the day, Dana Gas said that on Friday, 22 June 2012, two Liquefied Petroleum Gas (LPG) road tankers, belonging to a local LPG trader, caused a fire during filling at the loading facility of Khor Mor LPG Plant in Kurdistan Region of Iraq. "The accompanied explosion resulted into four injuries and one fatality of a tanker driver thereby causing extensive damage to the loading facility," Dana Gas said in a statement to the ADX, adding that "With full Corporation and support of the all the government institutions in the Kurdistan Region Government immediate medical support was available to the injured and fire-fighting teams extinguished the fire within two hours. As a precautionary measure, the plant has been temporarily shut down while a full investigation is conducted and repairs are carried out. A partial production restarted yesterday Saturday from the Early Production Facility producing and supplying gas to the power stations."
Mena inbound M&A value triples to $3.9bn
The value of disclosed inbound merger and acquisition (M&A) deals in Middle East and North Africa region more than tripled to $3.9 billion in the third quarter from $1.1 billion last year, according
Mahmood Al Soufi joins BNH’s Board of Directors
Bahrain National Holding Company (BNH) – the parent company of Bahrain National Insurance (bni) and Bahrain National Life Assurance (bnl) has announced today that Mahmood Al Soufi will be joining the