Dubai Firm Backs Out of Ports Deal
The UAE-owned company dropped its bid to control six major U.S. ports. A United States-owned company will instead take possession.AP
:
WASHINGTON – A Dubai-owned company abruptly abandoned its plan for managing operations at six U.S. ports Thursday, defusing an election-year showdown between President Bush and the Republican-controlled Congress over an issue that had become a political land mine for the GOP.
“DP World will transfer fully the U.S. operations … to a United States entity,” H. Edward Bilkey, the company’s top executive, said in the surprise announcement that seemed to spread relief throughout the Capitol and the White House. It was unclear which American business might get the port operations.
Your support is crucial…With an uncertain future and a new administration casting doubt on press freedoms, the danger is clear: The truth is at risk.
Now is the time to give. Your tax-deductible support allows us to dig deeper, delivering fearless investigative reporting and analysis that exposes what’s really happening — without compromise.
Stand with our courageous journalists. Donate today to protect a free press, uphold democracy and unearth untold stories.
Editorial Cartoons
Environment
The Pacific island nation is seeking $35 billion to protect against sea-level rise and prevent a mass exodus.
Editorial Cartoons
It remains to be seen how many people were arrested, injured or killed.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.