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
Al Rajhi takes over Dakar Rally lead after miserable stage for Lategan
- Lategan led the Dakar for the past week
- Al Rajhi, like Lategan, has never won the Dakar
HARADH: Local driver Yazeed Al Rajhi took advantage of a miserable stage by South Africa’s Henk Lategan to grab the Dakar Rally lead in the Saudi Arabia desert on Tuesday.
Lategan led the Dakar for the past week, but errors and bad luck on the 357-kilometer ninth stage from Riyadh south-east to Haradh turned his overall lead of more than five minutes over Al Rajhi into a potentially decisive seven-minute deficit.
The rally has effectively two days and 400 kilometers remaining in the dunes of the Empty Quarter. The last day, Friday, is a ceremonial drive to the finish line in Shubaytah.
Al Rajhi, like Lategan, has never won the Dakar. This is the Saudi’s 11th attempt with a best finish of third in 2022. He’d been lying second since last Wednesday. The title race appears to be between only them.
Third-placed Mattias Ekström of Sweden and five-time champion Nasser Al-Attiyah of Qatar were about 25 minutes behind.
“It’s a bit of disaster to be honest,” Lategan said. “About 13 kilometers in we got lost. We thought we missed the waypoint but we actually had it. When we got lost we got one puncture and then toward the end we got another one and the wheel is actually flat. So, it was a messy, messy, messy day for us but it’s not the end of the world, we’re still in it.”
Lategan and navigator Brett Cummings were 11th on the stage and Al Rajhi and Timo Gottschalk third.
“We did a great job like we planned to,” Al Rajhi said. “We pushed well. We enjoyed it, that’s the most important. I hope everything goes well the next two or three days to win the Dakar ... I will fight to win. It won’t be easy.”
Al-Attiyah won the stage ahead of Belgium’s Guillaume de Mévius in under three hours to rise to one minute off third place overall.
His 49th car stage win, and first in the Dakar for Romanian manufacturer Dacia, lifted him to only one behind the record jointly held by Finland’s Ari Vatanen and France’s Stephane Peterhansel.
Sanders cushions motorbike lead
Australian rider Daniel Sanders bolstered his motorbike lead to nearly 15 minutes when closest challenger, Spain’s Tosha Schareina, crashed early.
The back wheel of Schareina’s Honda hit a rock and sent him flying only 20 kilometers in. He resumed racing but the nearly four minutes he finished behind Sanders dropped him in the general standings.
Schareina’s teammate Adrien van Beveren of France remained third, more than 20 minutes behind, while Sanders’ KTM teammate Luciano Benavides of Argentina strengthened his position in fourth place by winning his second successive stage.
Benavides, thanks to collecting time bonuses of nearly five minutes by opening the way, beat Van Beveren by nearly two minutes, and repeated his win into Haradh two years ago. Sanders was third after leading until about 70 kilometers from the end.
“I only got lost a couple of times ... and lost a little bit of time,” Sanders said. “I could have pushed and made some more (time) but it’s not too bad.”
Bahraini king arrives in Oman for 2-day state visit
- Squadron of military aircraft escorts king’s jet to Muscat
- Omani artillery fires 21-gun salute for royal guest
LONDON: Omani Sultan Haitham bin Tariq welcomed Bahraini King Hamad bin Isa Al-Khalifa to Muscat on Tuesday.
The Bahraini royal is on a two-day state visit to Oman.
A squadron of Royal Air Force military aircraft escorted the king’s jet to Muscat’s Royal Airport.
The two leaders’ motorcade then departed to Al-Alam Palace for an official public reception, the Oman News Agency reported.
Sultan Haitham accompanied King Hamad to the Dais of Honor, where the Bahraini national anthem was played and a 21-gun salute was performed.
King Hamad is accompanied by an official delegation that includes Sheikh Rashid bin Abdullah Al-Khalifa, the minister of interior; Abdullatif bin Rashid Al-Zayani, the foreign minister; and Juma bin Ahmed Al-Kaabi, ambassador of Bahrain to Oman.
Controversial influencer Andrew Tate released from house arrest
- The US-born Briton has been under house arrest since late August 2024
- Andrew Tate has dismissed the case as a “set up“
BUCHAREST: A Romanian court on Tuesday lifted the house arrest order imposed on controversial influencer Andrew Tate, replacing it with judicial control, his spokesperson said.
The US-born Briton has been under house arrest since late August 2024, after authorities raided his home over accusations including forming an organized criminal group, trafficking of minors, sexual relations with a minor and money laundering.
At the time, his brother Tristan was placed under judicial control, which requires him to appear before authorities regularly.
Andrew Tate has dismissed the case as a “set up.”
The Bucharest Tribunal on Tuesday said it “replaces the measure of house arrest ordered against the defendant Andrew Tate with judicial control for 60 days,” according to a statement by the brothers’ spokesperson.
The judicial control measure grants Tate the freedom to travel throughout Romania, but he is not allowed to leave the country.
The court “rejects as unfounded the proposal to extend the measure of house arrest imposed on the defendant Andrew Tate” requested by prosecutors in early January, the statement added.
The ruling comes after a Romanian court last month granted an appeal by Tate in an older case, refusing to put him on trial over human trafficking charges for now, and referring the case back to prosecutors.
Prosecutors allege that 38-year-old Tate, his brother, 36, and two women set up a criminal organization in early 2021 in Romania and in Britain, and sexually exploited several victims. The brothers say they are innocent.
The Tates also face rape and assault allegations in separate cases in Britain, where they have also been accused of tax evasion.
Andrew Tate moved to Romania years ago after first starting a webcam business in the UK.
In 2016, Tate appeared on the “Big Brother” reality television show in Britain but was removed after a video emerged showing him attacking a woman.
He then turned to social media platforms to promote his divisive views.
Giving tips on how to be successful, along with misogynistic and sometimes violent maxims, Tate’s videos have made him one of the world’s best-known influencers.
Historic Islamic alliance pledges to improve access to education for girls
- Islamabad Declaration for Girls’ Education affirms girls’ education as both a religious obligation and societal necessity
- Malala Yousafzai: I am imagining this conference as a beginning of a new journey, where we commit to a future for every girl to have access to complete quality education
ISLAMABAD: Islamic religious, political and civil leaders have united in a historic campaign to improve access to education for girls and women.
The Islamabad Declaration for Girls’ Education affirms girls’ education as both a religious obligation and societal necessity.
It brings together a diverse range of religious schools of law including Deobandi, Hanafi and Haqqani schools, as well as gender activists like Nobel Laureate Malala Yousafzai and political and civil society leaders.
The declaration was signed during a conference in the Pakistani capital, Islamabad, convened by Saudi Arabia’s Dr. Mohammed bin Abdulkarim Al-Issa, secretary-general of the Muslim World League and chairman of the Organization of Muslim Scholars.
“I am imagining this conference as a beginning of a new journey, where we commit to a future for every girl to have access to complete quality education,” Yousafzai said in a statement.
“I want to thank the Muslim World League. Your Excellency Al-Issa; you have brought us together to address the barriers holding girls back from their right to go to school.”
Al-Issa added that the gathering “will not merely be a ‘call,’ a ‘declaration,’ or simply a ‘statement of stance.’
“Rather, it will represent a qualitative transformation in supporting girls’ education — a change that will bring joy to every deprived girl,” he said.
Religious leaders who affirmed the declaration include senior figures from the Deobandi school in Pakistan and India, leading Hanafi jurists, and the presidency of Darul Uloom Haqqania, Sheikh Anwarul Haq Haqqani.
Others included the Grand Mufti of Pakistan Sheikh Muhammad Taqi Usmani; the Mufti of Egypt Sheikh Dr. Nazir Mohammad Ayad; the Amir of Jamiat Ulema-e-Islam (Pakistan) Sheikh Fazl-ul-Rahman bin Mufti Mahmood; the President of Ulema Council of Pakistan Sheikh Tahir Mahmoud Ashrafi; and the President of Jamiat Ulama-e-Hind (India) Sheikh Syed Arshad Madani.
“This gathering brings together the intellectual capital of the Muslim world not just to appreciate the enormity of the challenge we face, but also as a declaration of our resolve to overcome all these impediments,” said Pakistani Prime Minister Shehbaz Sharif.
In addition, the Muslim World League and Organization of Islamic Cooperation agreed on a number of practical measures to improve access to education.
One of these measures is an awareness campaign by a number of educational centers and scholars.
Another is a new Islamic Educational Alliance drawing on a diverse and influential network of religious leaders, intellectuals, policy experts and academics from leading Islamic universities worldwide
The Muslim World League will also partner with a number of international organizations including the UN Refugee Agency and UN University for Peace to further the cause of providing access to education for women.
The summit brought together more than 150 dignitaries from 44 Muslim and other friendly states, according to Pakistan’s Foreign Office.
Four Seasons Beirut to reopen in 2026 after reconstruction
JEDDAH: The Four Seasons Hotel in Beirut is set to reopen in the first quarter of 2026 after undergoing a comprehensive rehabilitation, according to a statement from Kingdom Holding Co.
“On the occasion of a new era for Lebanon, and under the leadership of His Excellency President Joseph Aoun, I am pleased to announce that the Four Seasons Hotel, Beirut, which Kingdom Holding built, will be entirely reconstructed and refurnished by Kingdom Beirut S.A.L and will reopen to the public in Q1 of 2026,” Prince Al-Waleed bin Talal, chairman of KHC, wrote on his X account on Tuesday.
Prince Al-Waleed further noted that the hotel, located adjacent to Beirut’s Zaitunay Bay marina, would be upgraded to the highest international standards. The revamp is expected to position the property as one of the premier urban resorts worldwide.
The timing of the announcement follows recent diplomatic developments, including a call from Saudi Crown Prince Mohammed bin Salman to congratulate Lebanon’s new president, with an invitation to visit the Kingdom.
The Four Seasons Beirut was severely damaged in the 2020 Beirut Port explosion, which devastated much of downtown Beirut, an area once popular with Gulf tourists.
The region has since been affected by geopolitical tensions, including Hezbollah’s involvement in the Syrian war and its support for Houthis in Yemen.
Four Seasons, one of the world’s leading luxury hotel chains, has been privately owned by KHC and Cascade Investment, the investment vehicle controlled by Bill Gates, since 2007. Both KHC and Cascade own 47.5 percent stakes in the company, with the remaining 5 percent held by Triple Holdings, which represents Four Seasons’ founder, Isadore Sharp, according to KHC’s website.
KHC’s relationship with Four Seasons dates back to 1994, when the company first recognized the brand’s potential and invested in a minority stake through a private equity deal.
