AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

Dubai's global port operator DP World said Tuesday it will pursue all "legal means" to defend its claim to a Djibouti terminal after the African nation nationalised the facility.
The decision by Djibouti on Sunday to nationalise the Doraleh Container Terminal came after the government scrapped a 50-year concession contract with DP World, triggering a dispute between the two sides.
DP World said it has won three rulings from Britain-based courts over the matter, most recently an injunction at the High Court in London on August 31.
The Dubai-based firm said Tuesday that nationalising Doraleh amounted to "an attempt to flout an injunction of the English High Court," which barred Djibouti authorities from taking control over the facility.
The concession agreement between DP World and Djibouti signed in 2006 is governed by English law and through the London Court of International Arbitration, the port operator said.
The disputed terminal is an essential facility for supplies to neighbouring landlocked Ethiopia and is located in the strategic Horn of Africa.
The Djibouti government had a two-thirds stake in the venture but claimed that the terminal had effectively come under the control of DP World.
The terminal had been run by DP World since 2006, but in late February Djibouti cancelled the contract saying its national sovereignty was being compromised.
Currently, Hong Kong-based China Merchants Port Holdings Company owns a 23.5-percent stake in the facility.
Djibouti on Monday accused DP World, which operates 78 terminals in 40 countries, of waging a judicial and media "guerrilla" war.

Copyright Agence France-Presse, 2018

Comments

Comments are closed.