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Hong Kong’s richest man is in hot water over his company’s Panama Canal ports deal

  • CK Hutchison shares dropped more than 6% after China criticized its deal with BlackRock for ports in Panama, as reported by Ta Kung Pao and CNN.
  • A consortium led by BlackRock is planning to spend $22.8 billion to buy ports from CK Hutchison, which includes a significant interest in various international ports.
  • China labeled the proposed sale a "betrayal" of the Chinese people, urging CK Hutchison to reconsider its involvement, according to commentary from Ta Kung Pao.
  • The Panama Canal, key to international trade, was handed over to Panama in 1999, and 4% of the world's maritime trade passes through it.
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Hong Kong's embattled CK Hutchison says profits down in 2024

Embattled Hong Kong conglomerate CK Hutchison Holdings, caught in a US-China spat over control of the Panama Canal, said on Thursday that profits fell 27 percent in 2024.

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presidentialprayerteam.org broke the news in on Thursday, March 13, 2025.
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