A U.S. guided-missile cruiser, USS Lake Erie, was seen crossing the Panama Canal from the Pacific to the Caribbean on Friday night, after the Trump administration deployed warships near the coast of Venezuela. AFP journalists saw the naval vessel passing through one of the canal’s locks at around 9:30 pm and navigating east toward the…
CK Hutchison Holdings’ controversial US$23 billion deal to sell 43 overseas ports – including two at the Panama Canal – will not be completed this year, group co-managing director Frank Sixt said in a post-results briefing on Thursday. Sixt updated analysts about the progress of the proposed sale after the company posted a 92 per…
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…
Hong Kong’s CK Hutchison Holdings may win Beijing’s support through its plan to bring in a mainland Chinese company as a strategic investor in the controversial sale of its global port stakes, but the change in tack has also fuelled uncertainty, experts have said. Analysts said that the planned US$23 billion deal to sell CK…
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…
When Australian Prime Minister Anthony Albanese arrives in China next week for his second official visit, he will have more than the typical diplomatic niceties to discuss with President Xi Jinping. A major task on Albanese’s agenda, besides routine topics like trade, will be to explain his country’s stance on Chinese investment – in particular,…
The US$23 billion sale of global port stakes by Hong Kong’s CK Hutchison could be subject to substantial changes if it is not already on the verge of collapse, with Chinese and Panamanian authorities possibly rejecting the terms, legal and logistics experts have said ahead of the deal’s deadline for exclusive negotiation. Their analysis followed…