Dubai Port Operator Sheds 60% Profits Amid Red Sea Disruption

DP World, a key Dubai-based port operator, reported earnings on Thursday, showing a ~60% profit plunge due to Red Sea attacks by Yemen’s pro-Iran Houthi rebels, who claim to be retaliating for Israel’s assault on Gaza, the Associated Press reports.  During the same reporting period last year, DP World recorded $651 million in profit. A year later, thanks in part to ongoing Houthi attacks on the Red Sea shipping lane, DP World’s profits are down to $265 million.  “The year 2024 has been marked by a deteriorating…