DP World's New Leadership Reinvigorates Investments

British International Investment has resumed its partnership with DP World following the appointment of Yuvraj Narayan as the new CEO. This comes after previous allegations against former CEO Sultan bin Sulayem halted investments. Canada's second-largest pension fund also paused its investments amid similar concerns.

In a significant development, British International Investment, the UK development investment agency, announced on Friday its decision to resume collaboration with DP World after the latter appointed a new chief executive.

The agency had earlier suspended investments following allegations linked to former CEO Sultan bin Sulayem. A spokesperson for BII expressed optimism about continuing the partnership to develop key African trading ports, highlighting the continent's global trading potential.

Meanwhile, Canada's second-largest pension fund also withheld new investments with DP World due to the same allegations and has yet to comment on the recent management change, appointing Yuvraj Narayan as the new CEO.

(With inputs from agencies.)