Dubai-based port firm DP World reports $1.29 billion profit in 2018

DP World said its rose despite worldwide tensions over trade amid a trade war between China and the US and fears about Britain leaving the EU. (AFP)
Updated 14 March 2019
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Dubai-based port firm DP World reports $1.29 billion profit in 2018

  • Its revenue for the year was $5.6 billion, up from $4.7 billion the year prior

DUBAI: Global port operator DP World says its profit rose 10 percent in 2018 despite worldwide tensions over trade amid a trade war between China and the US and fears about Britain leaving the European Union.
The port operator on Thursday reported profits of around $1.29 billion, up from around $1.17 billion the year before.
Its revenue for the year was $5.6 billion, up from $4.7 billion the year prior. That’s a revenue increase of 19.8 percent for the port operator.
DP World has expanded aggressively into new markets, including into East Africa, where the Emirati government as well as begun building new military bases. In February, Al-Shabab militants shot and killed a Maltese man working for DP World in Somalia, saying the UAE firm “occupies” the area.


Google plans to invest £3 billion in Europe

Updated 20 September 2019

Google plans to invest £3 billion in Europe

COPENHAGEN, Denmark: Google is planning to invest £3 billion to expand its data centers across Europe in the next two years.
The tech giant’s CEO, Sundar Pichai, says it will bring the company’s total investments in the continent’s Internet infrastructure to £15 billion since 2007.
Pichai met with Finnish Prime Minister Antii Rinne on Friday in Helsinki and said that the investments “will generate economic activities to the region” and support 13,000 full-time jobs in the European Union every year.
He said that Google is “taking another big step by making the biggest corporate purchase of renewable energy in history” — a 1,600-megawatt package of agreements that includes 18 new energy deals. Ten of these will be in Europe.