DP World, a Dubai owned ports and logistics firm, reported a 28% decline in annual profits on Thursday, citing increased finance costs. The company also highlighted an uncertain outlook because of "geopolitical risk" and a changing global trade landscape.

DP World announced that the profit attributable owners dropped by 27.9%, from $820 to $591, a drop of over half a billion dollars. Revenues in 2024 are expected to grow 9.7%, to $20 billion.

Yemen's Houthis announced on Tuesday that they will resume attacks against Israeli ships traveling through the Red, Arabian and Gulf of Aden seas as well as the Bab al-Mandab strait. This marks the end of a relative calm which began in January, when the Gaza ceasefire was signed.

(source: Reuters)