Dubai-Based DP World Suspends Investment In Britain

2024-10-13 05:08:54

(MENAFN- AzerNews) Port and logistics firm DP World has paused a 1 billion pound ($1.3 billion) investment in Britain after ministers criticised practices at its subsidiary P&O Ferries, Azernews reports, citing the release by the newarab.

Prime Minister Keir Starmer is hoping to use Monday's international investment summit to pitch his goals of generating growth and providing stability that companies need to invest.

But his government's "pro-business, pro-worker" initiative faces a stern test after criticism of P&O Ferries by Deputy Prime Minister Angela Rayner and Transport Minister Louise Haigh appeared to disrupt preparations for the summit.

Dubai-based DP World is reviewing the planned investment that had been due to be a major plank of Monday's summit announcements, Sky News and Bloomberg reported. The reports also said DP World's chairman, Sultan Ahmed bin Sulayem, had pulled out of his planned attendance at the summit.

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