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.
You May Also Like
Europe to curb gas usage as Russia squeezes supply
Brussels: On July 26, European Union countries approved a weakened emergency plan…
- Alina Hashmi
- July 26, 2022
Pakistan’s weekly inflation hits 30.68pc
The Pakistan Bureau of Statistics (PBS) on Friday reported that the weekly…
- Hafsa Mustafa
- February 23, 2024
Dollar jumps, euro breaks parity
New York: On July 13, the dollar surged to a 20-year high…
- Alina Hashmi
- July 13, 2022
Fitch downgrades Pakistan’s rating
Fitch Ratings downgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to “CCC-”…
- Alina Hashmi
- February 14, 2023