Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings has called for the rule of law to be respected after Panama took legal action to nullify its ports contracts, with the country’s leader also suggesting its operations be taken over by state partnerships. Legal experts said on Friday that the Hong Kong-based conglomerate could face “significant…
A state partnership would fundamentally alter the operating structure of two key Panama Canal ports and could trigger significant losses for Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings, which was facing mounting hurdles over a US$23 billion asset sale, experts said. The Hong Kong-based conglomerate is in the grip of a legal and political…
Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings has called for the rule of law to be respected after Panama took legal action to nullify its ports contracts, with the country’s leader also suggesting its operations be taken over by state partnerships. Legal experts said on Friday that the Hong Kong-based conglomerate could face “significant…
Panama’s chief prosecutor said on Tuesday that more than 160 actions have been taken so far in a high-profile investigation into alleged wrongdoing by Panama Ports Company, the unit of Hong Kong’s CK Hutchison Holdings that operates two Panama Canal ports, as the country finds itself in the crosshairs of a deepening power struggle between…
The head of a US congressional committee on Thursday, warned Panama over Chinese influence on the Panama Canal, following reports that leading Chinese state-owned conglomerates are bidding for port concessions there now for sale by Hong Kong-based CK Hutchison Holdings. In his letter to Minister of Maritime Affairs and Administrator of the Panama Maritime Authority…
Panamanian authorities on Saturday partially suspended internet and mobile phone service in a western province where a state of emergency was in effect after two months of anti-government unrest. Right-wing President Jose Raul Mulino declared the emergency on Friday, suspending freedom of assembly and movement in Bocas del Toro province, where protesters have set up…
A US military commander met with Panama Canal administrators on Thursday to discuss ways to “counter Chinese Communist Party influence”over the critical waterway, the latest visit by a high-ranking American official to the trade channel that US President Donald Trump has said should be under Washington’s control. Posting photos of the meeting between Alvin Holsey,…
Panama has officially informed Beijing of its decision to withdraw from China’s massive infrastructure and investment project, the Belt and Road Initiative, the country’s leader announced on Thursday. Panamanian President José Raúl Mulino said he had instructed diplomats at the Central American country’s embassy in Beijing to submit the required 90-day notice of withdrawal from…
Supply Lines is a daily newsletter that tracks global trade. Sign up here. Panama is weighing whether to cancel its contract with the Hong Kong-based company that operates ports near the Panama Canal, according to people with knowledge of the situation, a potential concession to defuse President Donald Trump’s threats about countering China’s influence around…