Coronavirus live updates: What you need to know

View More

Israeli firm signs cooperation deal with DP World

Sultan Ahmed bin Sulayem, group chairman and CEO of DP World, signed MoUs with DoverTower, a company owned by Shlomi Fogel, the co-owner of Israel Shipyards and Port of Eilat.

The Israeli Dovertower company has signed a cooperation agreement with Dubai Ports World on shipping activities, according to Israeli media on Wednesday.

The cooperation agreement was signed by Dovertower head Shlomi Fogel during his visit to Dubai, the Hebrew-language newspaper Globes said. "Our work to build trade routes between the UAE, Israel, and beyond will help our customers to do business in the region more easily and efficiently," said DP World Chairman Sultan Ahmed bin Sulayem.

The agreement also includes participation in a joint bid in the privatization of Israel's Haifa port and a possible direct shipping line between the Red Sea port of Eilat and Dubai's Jebel Ali.

On Sept. 15, the United Arab Emirates (UAE) and Bahrain signed US-sponsored agreements to establish diplomatic relations with Israel.

The Palestinian Authority and resistance factions have denounced the normalization agreements, saying they don’t serve the Palestinian cause and ignores the rights of Palestinians.

Latest headlines