Word: dp
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Dates: during 2000-2009
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...says King. The tussle has even offered the prospect of former President Bill Clinton, a Dubai adviser, squaring off with his spouse, New York Senator Hillary Clinton, who opposes the buyout. Geopolitics makes strange bedfellows. The deal is on hold pending a 45-day national-security review that DP World asked for in the hope of winning support and easing fears about its antiterrorism credentials...
...want to block the ports deal, such as New York Democrat Charles Schumer, point out that the 9/11 attackers laundered money through Dubai and that the sheikdom participates in a boycott of Israel by the United Arab Emirates, of which it is one sheikdom among several. (Despite the boycott, DP World does business with Israeli firms.) Congressman King, for one, told TIME he wants assurances that al-Qaeda supporters "will not be able to work their way into the company." That task might fall to the chief operating officer of DP World--a guy from New Jersey named Edward...
Dubai certainly isn't short on big names coming to its aid. Power brokers Bill Clinton and Bob Dole (whose spouse is a North Carolina Senator), along with Madeleine Albright's lobbying shop, have advised DP World. Clinton has described the U.A.E. as a model Middle East government and in 2002 gave two speeches in Dubai, pulling in $450,000. Nor is the Bush Administration unfamiliar with DP World. Critics grouse that Treasury Secretary John Snow's former company, transportation giant CSX, sold its international port operations to DP World in 2004, for $1.15 billion. Dubai also works with...
When Dubai Ports World won shareholder approval to acquire one of Vancouver's busiest port facilities last month, nobody in Canada blinked. In fact, the proposed acquisition of the Centerm container terminal seemed to some Canadians like a match made in maritime heaven. "DP World is one of the globe's major port operators," says Anne McMullin of the Vancouver Port Authority, where the 28-hectare terminal is located. "It's a real vote of confidence in our port...
...firestorm could end up hurting Canadian pocketbooks. If DP is forced to back away from its U.S. commitments, the Vancouver deal could be lost in the shuffle, says Darcy Clarkson, ceo of P&O Ports Canada Inc., which would prefer to continue operating the Vancouver terminal under Dubai's ownership. Notes Clarkson: "It shouldn't happen, but it's a source of anxiety." And that's not the only reason for worry. "We need to be concerned if the U.S. Congress decides, as a result of this, to review port security across North America," says Colin Robertson, an official...