A subsidiary of a Hong Kong conglomerate that is embroiled in U.S.-China tensions over its Panama Canal port assets denied allegations Wednesday that it had failed to pay about $1.2 billion to the Central American country, the Associated Press reported. Panama’s comptroller authority announced on Monday that an audit of Panama Ports Company found irregularities in the renewal of a 25-year port concession in the interoceanic canal. The authority's accusations came the same day as U.S. Defense Secretary Pete Hegseth's arrival in the country to participate in a security conference.
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First Digital Trust (FDT) has redeemed almost $26 million in stablecoin withdrawals after its FDUSD token briefly lost its US dollar peg following allegations of insolvency by Tron founder Justin Sun, CoinTelegraph.com reported. First Digital USD briefly depegged on April 2, falling as low as $0.87 after Sun claimed that First Digital was insolvent. On April 4, Sun doubled down on his allegations, claiming the firm had transferred over $450 million of customer funds to a Dubai-based entity and that it violated Hong Kong securities regulations.
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Three years after the bankruptcy of Genting Hong Kong which resulted in the collapse of both Star Cruises and Dream Cruises the corporation has relaunched the brands, Maritine-Executive.com reported. Earlier this year they announced plans to rebrand away from Resorts World Cruises back to the traditional brand names as part of the future growth strategy for the company. Star Cruises was launched 30 years ago and became known as one of the pioneers of modern cruising in Asia.
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Political pressure is mounting over a plan by a Hong Kong conglomerate to sell its Panama ports to BlackRock, the American investor, raising questions about the future of the $19 billion deal, the New York Times reported.
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Anti-Suit Injunction granted to restrain a Hong Kong party from continuing Beijing court proceedings
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Hong Kong plans to lower taxes and further cut levies on property transactions, as part of efforts to get economic activity humming again amid an increasingly fraught trade environment, the Wall Street Journal reported. In the annual presentation of the budget for the next fiscal year, the Asian financial hub will reduce salaries tax and businesses’ profit tax by 100%, subject to a ceiling of 1,500 Hong Kong dollars, equivalent to around US$193, said Hong Kong Financial Secretary Paul Chan on Wednesday.
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