Thursday, March 09, 2006

AP: Dubai gives up... or is it playing a shell game?

My Way News: "Bowing to ferocious opposition in Congress, a Dubai-owned company signaled surrender Thursday in its quest to take over operations at U.S. ports.

'DP World will transfer fully the U.S. operations ... to a United States entity,' the firm's top executive, H. Edward Bilkey, said in an announcement that capped weeks of controversy.

Relieved Republicans in Congress said the firm had pledged full divestiture, a decision that one senator said had been approved personally by the prime minister of the United Arab Emirates.

'The devil is in the details,' said Senate Democratic Leader Harry Reid of Nevada, reflecting a sentiment expressed by numerous critics of the deal."


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