UPDATE 1-DP World optimistic on emerging markets, unconcerned by Trump

Mon Mar 20, 2017 8:07am GMT
 

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By Alexander Cornwell

DUBAI, March 20 (Reuters) - DP World, an operator of ports from Algeria to Peru, is optimistic about growth in emerging markets, undeterred by U.S. President Donald Trump's pursuit of protectionist trade policies.

The Dubai-controlled company's chairman said he expects growth in Latin America, Asia and Africa.

"We see some good times," Sultan Ahmed Bin Sulayem told reporters on a conference call on Monday.

Emerging markets and developing economies are projected to expand by 4.5 percent this year, according to the International Monetary Fund (IMF), compared with an average global growth rate of 3.4 percent.

DP World, one of the world's largest port operators, will spend $1.2 billion this year, adding capacity at its flagship Jebel Ali port in Dubai and in ports in China, Senegal, Somaliland, Canada and the United Kingdom.

It will also expand in Ecuador, where it won a 50-year concession last year to develop a port in the country's south-west, Bin Sulayem said.

Earlier the company reported a 27.6 percent increase in full year profit to $1.13 billion for 2016.   Continued...

 
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