DP World to Invest Over USD 1bn in India

first_imgzoom Dubai’s port operator DP World is seeking  investment opportunities in India worth over USD 1bn over the next few years, the group said. DP World has already invested capital of USD 1.2bn and is currently the only foreign operator with six port concessions in the country with approximately 30% market share.The DP World investments could cover expansion in brownfield container terminals, long term greenfield container concessions, inland container depots (ICDs) as well as expansion of existing inter-modal rail services for rolling stock.The announcement was made during a visit to New Delhi and Mumbai by Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, who jointly inaugurated the new 330-metre berth at Nhava Shev Gateway Terminal at Jawaharlal Nehru Port.“Being one of the strongest emerging economies in the world, India offers immense potential for growth in the maritime sector. With Nhava Sheva (India) Gateway Terminal, the new 330-metre berth, DP World will contribute even more to India’s growth offering our customers the ability to grow and expand their business,” said Sultan Bin Sulayem.Dubai’s non-oil foreign trade with India has seen a striking 144 per cent growth from 2004 to 2014. By the end of 2014, trade between the two countries amounted to AED 109.34 billion, compared to AED 44.87 billion in 2004. India was Dubai’s second largest trading partner in 2015, with bilateral trade of AED 73.86 billion during the first nine months of 2015.last_img read more

President Obama Immigrants and Refugees Revitalize and Renew America

New York – American President Barack Obama gave a touching speech about the importance of immigrants in America during a naturalization ceremony on December 15, at the National Archives in Washington D.C.The U.S. President, who was speaking during the ceremony marking the 224th anniversary of the ratification of the Bill of Rights, recalled how America is a country populated by immigrants and is the quality that makes it exceptional.“There’s something unique about America. We don’t simply welcome new immigrants, we don’t simply welcome new arrivals — we are born of immigrants. That is who we are. Immigration is our origin story,” Obama said. “For more than two centuries, it’s remained at the core of our national character; it’s our oldest tradition. It’s who we are. It’s part of what makes us exceptional,” he added.President Obama reminded Americans that the U.S. is a melting pot where people have come from every corner of the world seeking a better life.“After all, unless your family is native American, one of the first Americans, our families, all of our families, come from the someplace else,” he highlighted.“The first refugees were the pilgrims themselves, fleeing religious persecution, crossing the stormy Atlantic to reach a new world where they might live and pray freely,” he said.The American leader believes Americans must remember where they came from as a way to foster tolerance and understand that immigrants are a crucial part of the U.S.“How quickly we forget. One generation passes, two generation passes, and suddenly we don’t remember where we came from,” Obama said.“We can never say it often or loudly enough. Immigrants and refugees revitalize and renew America,” he concluded.President Obama’s compelling speech went viral on social media with thousands of people from different countries praising his reassuring message. read more