UPDATE 1-Dubai's DP World names new chairman and CEO after pressure over Epstein

Dubai ​port giant DP ‌World announced on ​Friday the appointment of Essa Kazim as chairman of its board ‌of directors and Yuvraj Narayan as group chief executive officer, Dubai Media Office reported, following mounting pressure on chief ‌Sultan bin Sulayem, over alleged ties to Jeffrey Epstein. Members ‌of the U.S. Congress said DP World's long-serving chairman and CEO Sultan Ahmed bin Sulayem's name appeared in the files, prompting ⁠renewed scrutiny ​of his ⁠past interactions with Epstein, a convicted sex offender.

Reuters was not able ⁠to independently review the allegations in the Epstein files, released ​by the U.S. Department of Justice. Sulayem, one of Dubai's ⁠most influential businessmen, has led DP World for over four ⁠decades, ​through an expansion that turned into one of the world's largest logistics companies, which it says handles ⁠around 10% of global trade.

The UK development finance agency, British ⁠International Investment, ⁠and Canada's second-largest pension fund have suspended new investment with DP World over the ‌Epstein allegations.