Latest in Tag: DP World Highlight

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Latest in Tag: DP World

DP World to repay $3 bln October loan early with cash

By Praveen Menon / Reuters DUBAI: DP World, the world’s third-largest port operator, will repay a $3 billion loan six months ahead of schedule, it said on Monday, the latest Dubai entity to pay off debt early this year. The firm, one of the more profitable assets of debt-laden Dubai World, said the repayments will take …


DP World $1 bln loan attracts big demand, March deal seen

By David French and Michelle Meineke / Reuters DUBAI: DP World, the world’s third-largest port operator, has attracted strong demand from both local and foreign banks for a $1 billion loan it wants to raise to help refinance a $3 billion facility maturing in October, bankers told Reuters. While the bank group is not expected to …


Credit Suisse raises DP World to outperform

LONDON: DP World, the world’s third-largest port operator, is set to benefit in the long term from its presence in regions that have been less hit by the economic downturn and from investments in its existing and new facilities, Credit Suisse said. The brokerage upgraded DP World to "outperform" from "neutral," and said it expects …


Labor strikes shut Dubai’s DP World port in Egypt

ISMAILIA: Dubai’s port operator DP World shut down its Ain Sokhna port in Egypt for the second day on Monday because of labor strikes that have disrupted shipments, an official at the Red Sea port authority said. Workers have been protesting for three days to press for hardship allowances, wage restructuring and a percentage of …


DP World plans $850 mln investment for Jebel Ali port

DUBAI: DP World, the world’s third-largest port operator, will invest $850 million over the next three years to create additional capacity at one of its key ports in the United Arab Emirates, the company said in a statement on Monday. The expansion of the Jebel Ali port would create an additional capacity of four million …


DP World reopens Egypt’s Ain Sokhna port

CAIRO: Port operator DP World reopened Egypt’s Ain Sokhna port after closing it for three days due to strike action, the Red Sea Port Authority said Monday. The port, roughly 45 kilometers south of the Suez Canal, reopened Sunday overnight and received three cargo ships the next morning, the port authority’s head Mohamed Abdel Qader …


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