DUBAI: Dubai has said it is seeking international arbitration against Djibouti after the Horn of Africa nation terminated its concession at a key port that is the main transit route to landlocked Ethiopia.
The emirate said the Djiboutian government’s termination on Thursday of the 50-year concession it granted to Dubai-owned DP World to operate the Doraleh container terminal in 2006 was "illegal".
Announcing its decision on Thursday, Djibouti’s transport ministry said that it was merely implementing a law adopted in November last year that "sets a legal framework allowing for the renegotiation, if necessary, of contracts already concluded dealing with the management or exploitation of strategic infrastructure".
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The ministry alleged that the driver lost control and collided with barriers on the bridge
Republican Speaker Mike Johnson has held up a bill for months that would supply $60 billion in military and financial...
The results are likely to be shaped in part by economic woes driven by rampant inflation