UAE | General
Dubai World joins business community to help quake hit in China
Dubai World, in line with its commitment to the welfare of the society it operates in, has joined the international business community’s response to the recent earthquake in China by making a financial contribution towards rescue and rehabilitation efforts in the affected areas.
- Staff Report
- Published: 16:07 June 15, 2008
Dubai: Dubai World, in line with its commitment to the welfare of the society it operates in, has joined the international business community's response to the recent earthquake in China by making a financial contribution towards rescue and rehabilitation efforts in the affected areas.
Over the past six weeks, Dubai World has moved to help those hit by the tragedy. The holding company, which has a strong presence in China, made the contribution through its subsidiaries DP World, Limitless and Istithmar World.
Realising the magnitude of the tragedy that struck, Dubai World immediately joined the massive international effort to support the victims. The donations were made mainly via Qingdao Civil Administration and Qingdao Charity Association. Employees at all levels joined the management in contributing to the humanitarian effort.
Sultan Ahmad Bin Sulayem, Dubai World Chairman, said: "The donation is an expression of our heartfelt concern for the victims of this natural calamity. As a company that runs operations all over the world, Dubai World pursues a policy of supporting the communities in which it operates. We contribute to their economic growth and we also share their anguish at times when tragedies such as this strike.
"China is one of Dubai's biggest trading partners and one of Dubai World's strongest investment bases. Our partnership with China goes beyond economic interests."
Istithmar World, the investment arm of Dubai World, is active in China through its private equity and alternative investments division Istithmar World Capital. Limitless, the global master development arm of Dubai World, sees China as a strategic market and has offices in Shanghai.
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