DUBAI: DP World, one of the world’s largest port operators, said on Thursday it was confident it would meet full-year market expectations as it reported a flat half-year net profit.
The Dubai-headquartered firm made a profit of $606 million attributable to the owners of the company in the six months to June 30, according to a bourse statement.
The earnings, which were in line with analyst estimates, according to Thomson Reuters data, compared with a $608 million profit in the same period a year earlier.
Revenue increased 9.6 percent to $2.29 billion, and in July the company said gross container volumes rose 8.2 percent in the first half to 34 million twenty-foot equivalent units `(TEUs).
“Looking ahead to the second half of the year, we expect higher levels of throughput to be maintained,” said Chairman Sultan bin Sulayem.
The chairman said he was confident market expectations for the year would be met following the company’s first-half performance. He did not elaborate.
The company said it invested $595 million in capital expenditure in key growth markets in the first half, and announced over $170 million of acquisitions.
In June, subsidiary P&O Maritime acquired Spanish maritime services operator Reyser from Bergé y Cía SA in June.
Qatari vessels have been banned from the company’s terminals in the United Arab Emirates since June as part of an ongoing dispute between four Arab countries, including the United Arab Emirates, and Qatar.
DP World did not mention the dispute in its statement.
— REUTERS
DP World reports flat first half but confident about full year
DP World reports flat first half but confident about full year
Mozambique opposition leader Mondlane sets conditions for post-election talks
- We are open to dialogue. It has to be a genuine dialogue. It cannot be full of traps
MAPUTO: Mozambique’s opposition leader said he would accept the president’s offer of talks after deadly post-election unrest on terms including their being held virtually and legal proceedings against him being dropped.
President Filipe Nyusi invited Venancio Mondlane to his office in Maputo on Nov. 26 after the killing of dozens of people in a police crackdown on demonstrations against the results of the Oct. 9 election.
Mondlane, who says the election was rigged in favor of Nyusi’s Frelimo party, is believed to have left the country for fear of arrest or attack, but his whereabouts are unknown.
“We are open to dialogue,” Mondlane said in a Facebook live address. “It has to be a genuine dialogue. It cannot be full of traps.”
A written reply to Nyusi’s invitation lists as one condition for the meeting: “That the participation of the elected candidate Venancio Mondlane is virtual.”
Authorities have laid criminal and civil charges against him, including for damages caused during protests by his supporters, which has led to his bank accounts being frozen.
Another condition in the document made public by Mondlane’s office is that “the judicial proceedings in question must be immediately terminated.” It also lays out 20 points that Mondlane wants on the agenda for talks, including “restoring electoral truth” and prosecuting anyone involved in vote-rigging.
Others are a public apology and compensation for the deaths during the demonstrations, as well as constitutional, economic, and electoral reforms.
Rights groups have accused Mozambique authorities of using live ammunition on demonstrators in the country, which has been governed since independence from Portugal in 1975 by Frelimo.
The Center for Democracy and Human Rights civil society group says around 65 people have been killed. Mondlane on Friday gave a toll of more than 60.
Nyusi said Tuesday 19 people had died, including five police officers.
The president is meant to hand over to Frelimo candidate Daniel Chapo in January, whom the election authority says won 71 percent of votes against 20 percent for Mondlane.
The unrest was discussed Wednesday by regional leaders at a summit of the 16-nation Southern Africa grouping Southern African Development Community, or SADC, which said in a statement afterward that it “extended condolences to the government and people” for the lives lost.
Human Rights Watch criticized the SADC, for failing to denounce Mozambique for excessive use of force.
“SADC has squandered an opportunity to condemn human rights abuses against post-election protesters in Mozambique publicly,” it said in a statement.
The rights watchdog urged the grouping to tell Nyusi’s government to respect the right to peaceful protest and cease using unnecessary and excessive force.
EU recalls its ambassador from Niger
- The EU expresses its profound disagreement with the allegations
NIAMEY: The EU will recall its ambassador from Niger after the country’s ruling military questioned an EU delegation’s management of humanitarian aid meant for flood victims, the European External Action Service, or EEAS, said on Saturday. Niger’s junta issued a statement on Friday accusing the EU ambassador in the West African country of dividing a 1.3 million euro fund to assist flood victims between several international NGOs in a non-transparent manner, and without collaborating with the authorities.
It ordered an audit into the fund’s management as a result.
The EU “expresses its profound disagreement with the allegations and justifications put forward by the transitional authorities,” the EEAS said in a statement.
“Consequently, the EU has decided to recall its ambassador from Niamey for consultations in Brussels.”
Niger has been under military rule since the junta seized power in a 2023 coup.
Spurs thrash Man City 4-0 to end 52-match unbeaten home run
- James Maddison struck twice in seven first-half minutes before Pedro Porro rubbed salt in the wounds of his former club and Brennan Johnson completed the rout
- City’s first defeat on home soil from open play since the eve of the 2022 World Cup leaves them still five points adrift of Premier League leaders Liverpool
MANCHESTER: Manchester City crashed to a stunning fifth consecutive defeat as Tottenham won 4-0 at the Etihad to end the English champions’ 52-game unbeaten home run on Saturday.
James Maddison struck twice in seven first-half minutes before Pedro Porro rubbed salt in the wounds of his former club and Brennan Johnson completed the rout.
City’s first defeat on home soil from open play since the eve of the 2022 World Cup leaves them still five points adrift of Premier League leaders Liverpool, who play their game in hand at bottom-of-the-table Southampton on Sunday.
A great day for Tottenham eases the pressure on Ange Postecoglou as they climb into the top six.
City boss Pep Guardiola has committed himself to turning around the poorest run of his managerial career after extending his contract till 2027 this week.
But hopes his new deal could revitalize a City side, that have won an unprecedented four consecutive Premier League titles, proved short-lived.
Rodri paraded his Ballon d’Or trophy to the home fans before kick-off as his name was lit up across the Etihad pitch by firelight in an ostentatious show of support for the Spanish midfielder.
The 28-year-old is not expected to play again this season after suffering knee ligament damage in September and his absence has been at the heart of City’s demise.
Guardiola’s men did start strongly as Guglielmo Vicario denied Erling Haaland and the Norwegian had another shot deflected wide.
But the momentum of the match completely swung on Tottenham’s first serious attack after 13 minutes.
Dejan Kulusevski’s teasing cross picked out Maddison who applied a cool first-time finish.
Maddison had found himself frozen out of Postecoglou’s starting line-up in recent weeks and was keen to prove a point to his manager.
Son Heung-min’s inventive pass freed the England international inside the box and he dinked the ball over the advancing Ederson to double Spurs’ lead.
Inconsistency has been the scourge of Tottenham’s season so far.
A 2-1 home defeat to Ipswich before the international break saw Postecoglou’s men slip to 10th in the table.
But they have now twice won comprehensively in Manchester after a 3-0 win over United at Old Trafford.
Dominic Solanke was denied by a fine Ederson save with the chance to make it 3-0 before half-time.
Spurs, though, were not to be denied seven minutes into the second period.
The excellent Kulusevski crossed for Solanke and he patiently laid the ball back for Porro to blast home from close range.
Haaland clipped the bar from an almost impossible angle as City labored to find a response.
Instead, they were hit with one final sucker punch as Timo Werner eased past Kyle Walker and crossed for Johnson to tap home at the far post.
The one glimmer of hope for City may be the return of Kevin De Bruyne after a two-month injury absence as a late substitute.
However, Guardiola has to find solutions fast if his side’s title defense is to be maintained into the new year.
A daunting trip to face Liverpool at Anfield is next up in the Premier League, where City have not won in front of a crowd since 2003.
What We Are Reading Today: ‘The Organic Line’
- Once recognized, however, the line has seismic repercussions for rethinking foundational concepts such as mark, limit, surface, and edge
Author: IRENE SMALL
What would it mean to treat an interval of space as a line, thus drawing an empty void into a constellation of art and meaning-laden things? In this book, Irene Small elucidates the signal discovery of the Brazilian artist Lygia Clark in 1954: a fissure of space between material elements that Clark called “the organic line.”
For much of the history of art, Clark’s discovery, much like the organic line, has escaped legibility. Once recognized, however, the line has seismic repercussions for rethinking foundational concepts such as mark, limit, surface, and edge.
Odegaard inspires Arsenal to reignite title hopes
- Victory at the Emirates lifts them to 22 points, level with third-placed Chelsea
- Captain Odegaard was making his first appearance at the Emirates since late August and showed what a huge miss he was for Arsenal
LONDON: Mikel Arteta said his Arsenal team “flows in a different way” when Martin Odegaard is playing after the Gunners crushed Nottingham Forest 3-0 on Saturday to end their winless run.
Stunning strikes from Bukayo Saka and Thomas Partey and a first Premier League goal for teenager Ethan Nwaneri gave Arsenal a first victory in five league games, reigniting their title challenge.
Arsenal, Premier League runners-up for the past two seasons, started the campaign strongly but their form dipped and they kicked off on Saturday nine points behind leaders Liverpool.
Victory at the Emirates lifts them to 22 points, level with third-placed Chelsea.
Arsenal took the lead in the 15th minute when Saka exchanged passes with Odegaard on the edge of the area before lashing a left-footed shot into the roof of the net.
Captain Odegaard was making his first appearance at the Emirates since late August and showed what a huge miss he was for Arsenal during his two-month injury absence.
Time and again the Norwegian found space in the penalty area with his quick feet and he teed up Gabriel Jesus, who curled narrowly wide, before linking up with Saka again.
Partey doubled Arsenal’s lead early in the second half after collecting Saka’s pass 20 yards out and taking a touch, before curling his shot away from the dive of Matz Sels and inside the far post.
Seventeen-year-old Nwaneri tucked away Raheem Sterling’s cutback to wrap up an emphatic win in the 86th minute.
“I think we started really well,” Arteta told the BBC. “The sense I was getting in the last 48 hours after the international break, the boys coming together and were all at it.”
Speaking about Odegaard, who returned to action at Inter Milan earlier this month, he said: “It’s not a coincidence. The team flows in a different way when he is playing.”
And he also had warm words for Nwaneri.
“He is the second-youngest (Premier League goalscorer) in our history,” Arteta said. “That’s a story in itself.
“He’s brave. You see the reaction of fans and they were singing ‘He’s one of our own’. I think we have to put brick by brick and make sure the cement doesn’t get dry. Hopefully we can build a beautiful thing with him.”
