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Dubai Port Operator DP World to Return to Full State Ownership

General view of a stock yard of DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai, UAE, December 27, 2018. (Reuters)
General view of a stock yard of DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai, UAE, December 27, 2018. (Reuters)
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Dubai Port Operator DP World to Return to Full State Ownership

General view of a stock yard of DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai, UAE, December 27, 2018. (Reuters)
General view of a stock yard of DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai, UAE, December 27, 2018. (Reuters)

Dubai port and logistics giant DP World said on Monday it would return to full state ownership and delist from the Nasdaq Dubai, in a deal worth some $2.7 billion.

State-owned parent company Port and Free Zone World has offered to acquire the 19.55 percent of DP World's shares currently traded on the Nasdaq Dubai stock exchange, DP World said in a statement, according to AFP.

Returning to full ownership by the emirate of Dubai would free the firm from the demand for short-term returns in the public market.

"The global ports and logistics industry has been undergoing a significant transition," said Sultan Ahmed bin Sulayem, DP World's chairman and CEO.

The move will "enable the company to focus on implementing our mid-to-long-term strategy to build the world's leading logistics provider" backed by a global network including ports, economic zones, industrial parks and inland transportation, he said.

The parent company offered to buy each share of DP World for $16.75 -- a premium of around 29 percent on the market closing price of $13 per share on Sunday, the statement said.

The new deal puts the market value of DP World, which operates some 78 ports and terminals in 40 countries, at just under $14 billion.

DP World listed part of its equity on the Nasdaq Dubai in 2007 and made another listing on the London Stock Exchange in 2011 before withdrawing less than four years later, citing weak trading volumes.

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China Has ‘Very Big’ Policy Room to Spur Growth, Central Bank Adviser Says 

A man walks past office buildings at the central business district in Beijing on March 17, 2025. (AFP) 
A man walks past office buildings at the central business district in Beijing on March 17, 2025. (AFP) 
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China Has ‘Very Big’ Policy Room to Spur Growth, Central Bank Adviser Says 

A man walks past office buildings at the central business district in Beijing on March 17, 2025. (AFP) 
A man walks past office buildings at the central business district in Beijing on March 17, 2025. (AFP) 

China wields significant policy room to stimulate its economy this year while some reform was needed to boost consumption, Huang Yiping, an advisor to China's central bank and a professor at Peking University, said on Wednesday.

China has unveiled fresh fiscal measures, including a rise in its annual budget deficit, to help hit an economic growth target of around 5% this year, which analysts have described as ambitious. The central bank has pledged to cut interest rates and pump more money into the economy at an appropriate time.

"There is still very big space in terms of macro policies," Huang told Reuters on the sidelines of the annual Boao forum.

Macro policies will help tackle cyclical problems, while some structural challenges could be resolved in the future, he said.

Some reform measures, including those to increase people's incomes and confidence, are needed to boost consumption, on top of recent moves unveiled by the government, Huang said.

Peng Sen, chairman of the China Society of Economic Reform, told the Boao Forum on Tuesday that China should take steps to boost consumption as a share of gross domestic product to 70% by 2035 from around 55% currently, narrowing the gap with developed nations.

Wider structural reforms include changes in institutional frameworks, income distribution, and fiscal and taxation systems will be needed to help boost spending, Peng said.

The Boao Forum, an international summit seen as Asia's version of the World Economic Forum in Davos, Switzerland, is being held in China's Hainan province from Tuesday through Friday.

Policymakers have put expanding domestic demand, especially consumption, as the top priority this year as they try to cushion the impact of the Trump administration's tariffs on its crucial export engine.

Huang also told the forum that globalization, which has benefited many Asian economies, could be reversed.

"Many of the most successful economies in the last half century or more, like East Asian economies - China and so on -all benefited from globalization, but there is certainly a risk that the US-led globalization may be reversed," Huang said.