Hong Kong Firm Appeals for Legal Protection of Investors as Its Panama Ports Contract Faces Lawsuits

A subsidiary of a Hong Kong conglomerate entangled in U.S.-China tensions appealed on Friday for legal protection for businesses in Panama after the company's contract over its Panama Canal port assets has been faced with lawsuits in the Central American country, the Associated Press reported. Respect for the rule of law is essential to assure businesses that Panama is a safe place to invest in, Panama Ports Company, under Hong Kong-based CK Hutchison Holdings, said in a statement.
Hong Kong
Panama
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Hong Kong's CK Hutchison Seeks Chinese Investor to Join Panama Ports Deal

A Hong Kong conglomerate that had agreed to sell its two ports at the Panama Canal said Monday it may seek a Chinese investor to join a consortium of buyers, a move that could please Beijing but bring more U.S. scrutiny to the geopolitically fraught deal, the Associated Press reported. CK Hutchison Holdings’ initial plan to sell port assets in dozens of countries to a group that includes U.S. investment firm BlackRock Inc. pleased U.S. President Donald Trump, who has alleged that China interferes with the critical shipping lane’s operations in Panama.
Hong Kong
China
Panama
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U.S. Audit Watchdog Bars, Fines Hong Kong Auditor

The U.S. Public Company Accounting Oversight Board said on Tuesday it had revoked the license of a Hong Kong firm and barred its owner for violating audit rules related to companies operating in China, including Luckin Coffee Inc., Reuters reported. The PCAOB said in a statement it had sanctioned Centurion ZD CPA & Co and its owner Chan Kam Fuk and hit them with a civil penalty of $75,000 for violating the board's rules and standards in connection with its audit work for three firms.
Hong Kong
United States
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Hong Kong Retailers Under Strain as Changing Trends Drive Store Closures

Hong Kong's retailers are battling against shifting consumer habits, as visitors spend less and locals head across the border to China for cheaper dining and shopping, leading to a wave of store closures, Reuters reported. A 36-year-old Chinese seafood restaurant chain and a popular high-end food court in the bustling Causeway Bay district closed this week. Other recent closures in the financial hub include cinema chains, a major catering group, a 41-year-old bakery and a three-decade-old congee chain.
Hong Kong
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Hong Kong Bankruptcy Petitions Top 900 in May, Highest Since 2022

Hong Kong recorded 949 bankruptcy petitions in May, up 17 percent from the previous month, marking the first time since 2022 that monthly filings exceeded 900, data from the Official Receiver's Office shows, The Standard reported. The figure is also 9 percent from a year ago. However, the number of bankruptcy or receiving orders issued by the court dropped to 712 last month, down over 24 percent from April, though still up around 14 percent year-on-year.

Hong Kong
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