Shares in shipping giant Maersk have dropped after it warned of an uncertain 2024 earnings outlook linked to an oversupply of container vessels and Houthi attacks in the Red Sea. The group reported a more than sevenfold drop in its net profit last year to $3.8 billion, compared to $29.2 billion in 2022. Its revenue fell to $51 billion from $81.5 billion the previous year.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Saudi women barrel into workforce to transform the Kingdom

Saudi Arabia: On Nov 4, In an initiative to revolutionize the Kingdom,…

Shell in talks to sell fuel stations to Saudi Aramco

Energy giant Shell is in talks with Saudi Arabia’s state-owned Saudi Aramco…

Jameel Ahmad appointed as SBP’s new governor

Karachi: The federal government on Friday appointed Jameel Ahmad as the new…