Business | Shipping
US official allays fears over P&O sale
A US official yesterday dismissed concerns over DP World's planned takeover of management operations at six US ports as part of its purchase of Peninsular and Oriental Steam Navigation Company.
- By Duraid Al Baik, Foreign Editor
- Published: 00:00 February 21, 2006
Dubai: A US official yesterday dismissed concerns over DP World's planned takeover of management operations at six US ports as part of its purchase of Peninsular and Oriental Steam Navigation Company.
Karen P. Hughes, Undersecretary of Public Diplomacy and Public Affairs, dismissed US lawmakers' objections saying that the government has conducted an inter-agency security review and determined that the sale can go forward.
Addressing a press conference here, Hughes said the United States has a longstanding friendship and alliance with the UAE. "We are partners in the war against terror and the administration has concluded that this sale can in fact go ahead and will be very safe and secure," she said.
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
