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The Gulf Cooperation Council (GCC) countries (Saudi Arabia, UAE, Kuwait, Bahrain, Oman, and Qatar) contribute approximately 80% of the market share , serving as the core engine of regional growth
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The write-down, described as noncash adjusting impairment charge, is primarily an accounting matter with no effect on the companys day-to-day operations, but investors reacted negatively to the message about its long-term prospects: British American Tobaccos shares in London fell to their lowest level in more than 10 years