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All markets in the Gulf declined Sunday as investors reacted to insurgent advances in Iraq and Dubai builder Arabtec Holding plunged again, after a technical glitch led investors to believe a major shareholder was cutting its stake further.Shares in the few Gulf companies with major exposure to Iraq were hit.Zain Kuwait, another major telecommunications firm with operations in Iraq, was down 1.5 percent while Kuwait's index fell 1.4 percent. Last year, Zain's unit in Iraq accounted for 41 percent of its total revenue.Last week, Arabtec plunged 30 percent in four days as Aabar cut its stake to 18.85 percent from 21.57 percent; investors are concerned that the construction firm could lose the support of the deep-pocketed fund, which has declined to comment on its intentions.
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