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Dubai's DP World chief removed from position after pressure on Epstein

Dubai port giant, DP World, announced on Friday that its Chairman and Chief Executive Sultan Ahmed Bin Sulayem resigned. This announcement followed increasing pressure due to his alleged links with Jeffrey Epstein. Bin Sulayem is one of the most prominent businessmen in the Middle East. He has been removed from his senior positions following the recent Epstein files release.

Dubai's ruler also issued on Friday a decree that appointed a new chairman of Dubai's Ports, Customs and Free Zone Corporation, which was one of the many roles Bin Sulayem previously held.

Members of Congress in the United States said Bin Sulayem’s name appeared on documents published by U.S. Department of Justice. This prompted renewed questions about his past interactions Epstein, who was a convicted sexual offender. The allegations contained in the files could not be independently verified.

MOUNTING PRESSURE

The pressure was building?on DP World, an Emirati logistics company, after two organizations, the UK Development Finance Agency and Canada's second largest pension fund, announced this week that they would suspend any new investments with DP World due to Bin Sulayem’s alleged Epstein ties.

British International Investment, the UK's agency for British International Investment, said that it welcomed DP World’s decision on Friday and looked forward to "continuing our partnership to advance development of key African trade ports".

In a press release, La Caisse Canada said that the company had taken "the appropriate measures". It stated that it would "move swiftly to work with DP World’s new leadership in order to continue our partnership for port projects around the globe".

Dubai Media Office had reported that DP World has appointed Essa Kasim as 'chairperson of its board of director and Yuvraj Naira as the group chief executive officer.

Kazim is currently the governor of the Dubai Financial Centre International, while Narayan has served in several senior positions in the company, including as the deputy CEO.

GLOBAL FALLOUT OF EPSTEIN FILES

Bin Sulayem's resignation follows that of many other notable figures in the world of business and politics who have left their top positions as the fallout of the files continues to grow. The Financial Times reported that Goldman Sachs' general counsel Kathy Ruemmler will be resigning this summer due to the ties. At least three members from Keir Starmer’s government in Britain resigned after Peter Mandelson was appointed ambassador to the U.S.

The Epstein files are among the?millions of documents published by U.S. Department of Justice. They suggest that Bin Sulayem and Epstein had a close relationship for over a decade following Epstein's 2008 conviction on charges of prostitution involving a minor.

These documents contain emails and texts that seem to show conversations between Epstein and Bin Sulayem regarding business, sex, and plans to visit Epstein’s Caribbean island.

Documents reveal the web of connections that the disgraced financier had with prominent people in finance, politics, academia, and business. The fact that you are named in these files does not mean that you have committed a crime.

In August 2019, Epstein's body was discovered in a New York prison cell, where he had been held for sex trafficking charges. It was determined that his death was caused by suicide.

DUBAI BUSINESS HUB - PROMINENT FIGURE

Bin Sulayem was a prominent figure both in Dubai and throughout the Middle East. He is credited with helping the emirate become a regional business and tourism centre.

His ventures include establishing Nakheel - the real estate developer responsible for Dubai's palm-shaped islands - as well as contributing towards the creation of commodities exchange DMCC.

He is a frequent speaker at global business events such as the World Economic 'Forum.' Most notably, he oversaw DP World’s transformation 'into one of world's biggest port and logistics operators.

The company claims to handle around 10% of the global container traffic, with operations in countries such as Canada, Peru and India.

DP World sponsors a professional golf tour and is a partner of McLaren Formula 1 since 2023. (Reporting and editing by Kevin Liffey and William Maclean; Additional reporting and editing by Sam Tabahriti, Nivedita Balu and Federico Maccioni)

(source: Reuters)