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DP World shares rise to 3-week high

The FTSE NASDAQ Dubai UAE 20 Index closed on Wednesday 0.40% higher at 2712.19 points. Shares of market bellwether DP World surged 2.83% to hit $16. After the market's closure, DP World chairman Sultan Ahmed Bin Sulayem said at the ongoing 3rd UAE counter-piracy summit in Dubai, DP World would be ready to invest in Somalia "if there is any help on the ground in need". DP World has been running operations in Somalia's northern neighbor Djibuti since 2000. The company has been supporting the fight against piracy since the summit's inception in 2011. According to Bin Sulayem due to the end of the civil war in Somalia and because of international efforts to fight piracy, attacks on ships have declined by 80 percent off the Somali coast in the last two years. The two-day summit will run through Thursday.