DP World Starts Construction of Banana Port in Congo

DP World and the Government of the Democratic Republic of the Congo laid the first stone to mark the start of construction of the new Banana Port. (DP World)
DP World and the Government of the Democratic Republic of the Congo laid the first stone to mark the start of construction of the new Banana Port. (DP World)
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DP World Starts Construction of Banana Port in Congo

DP World and the Government of the Democratic Republic of the Congo laid the first stone to mark the start of construction of the new Banana Port. (DP World)
DP World and the Government of the Democratic Republic of the Congo laid the first stone to mark the start of construction of the new Banana Port. (DP World)

DP World, the world's leading provider of smart logistics, and the Government of the Democratic Republic of the Congo (DRC), Tuesday laid the first stone to mark the start of construction of the new Banana Port.

The stone laying follows the signing of the collaboration agreement in December 2021 between DP World and the DRC Government to develop the first deep-water port in the country.

President of the DRC Félix-Antoine Tshisekedi said: "This is a proud and historic day for the DRC, as our vision to develop Banana Port to transform our country into a regional trade hub, becomes a reality."

"It will grow our economy by creating direct and indirect jobs, provide new opportunities in the supply chain and attract more foreign direct investment.”

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said: "Banana Port will be a modern, world-class port and undoubtedly a game-changer for the DRC."

"Once complete, it will attract more direct calls from larger vessels traveling from Asia and Europe, greatly enhancing the country’s access to international markets and global supply chains.”

DP World will develop an initial 600-meter quay with an 18m draft, capable of handling the largest vessels in operation. It will have a container handling capacity of about 450 000 TEUs (20-foot equivalent units) per year, and a 30-hectare yard to store containers.

The port is being developed at Banana, along the country’s 37km coastline on the Atlantic Ocean in Kongo Central province and following its completion, will provide significant cost and time savings that will boost the country’s trade.



G7 Agrees to Avoid Higher Taxes for US Companies

US President Donald Trump speaks during a meeting in the Oval Office at the White House in Washington D.C., June 27, 2025. REUTERS/Ken Cedeno
US President Donald Trump speaks during a meeting in the Oval Office at the White House in Washington D.C., June 27, 2025. REUTERS/Ken Cedeno
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G7 Agrees to Avoid Higher Taxes for US Companies

US President Donald Trump speaks during a meeting in the Oval Office at the White House in Washington D.C., June 27, 2025. REUTERS/Ken Cedeno
US President Donald Trump speaks during a meeting in the Oval Office at the White House in Washington D.C., June 27, 2025. REUTERS/Ken Cedeno

The United States and the Group of Seven nations have agreed to support a proposal that would exempt US companies from some components of an existing global agreement, the G7 said in a statement on Saturday.

The group has created a 'side-by-side' system in response to the US administration agreeing to scrap the Section 899 retaliatory tax proposal from President Donald Trump's tax and spending bill, it said in a statement from Canada, the head of the rolling G7 presidency.

The G7 said the plan recognizes existing US minimum tax laws and aims to bring more stability to the international tax system.

G7 officials said that they look forward to discussing a solution that is "acceptable and implementable to all."

In January, through an executive order, Trump declared that the global corporate minimum tax deal was not applicable in the US, effectively pulling out of the landmark 2021 arrangement negotiated by the Biden administration with nearly 140 countries.

He had also vowed to impose a retaliatory tax against countries that impose taxes on US firms under the 2021 global tax agreement.

This tax was considered detrimental to many foreign companies operating in the US.