Dubai Ports World shares soar due to cooperation with top British retailer

Shares of the world's third biggest maritime port operator Dubai Ports (DP) World gained on Monday, after British retailer Marks and Spencer (M&S) said it would set up a new distribution center at DP World's London Gateway. Shares of DP World listed on the NASDAQ Dubai on Monday rose 0. 76 percent to 16 U.S. dollars against the NASDAQ Dubai's downtrend. Earlier Monday, DP World and M&S jointly announced that M&S will build a major new distribution center at the new container port and logistics park that will open later this year on the Thames in southern England. DP World and M&S said "as part of its 200-million pound (310- million dollar) investment at DP World's London Gateway, M&S will create approximately 700 jobs; there will also be hundreds of additional workers employed in the construction phase." DP World controls around 60 maritime container ports worldwide.