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Time of India
27 minutes ago
- Time of India
CK Hutchison's Panama Port subsidiary seeks legal protection amid contract dispute
Advt Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. A subsidiary of a Hong Kong conglomerate entangled in US-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 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 Comptroller General filed two lawsuits on Wednesday, seeking to declare unconstitutional a contract that granted the operation of ports at both ends of the canal to the Hong Kong subsidiary, and to nullify its renewal four years ago, saying it was "abusive" of Panama's turn, Panama Ports Company said its operations have had a positive impact, from building world-class ports to creating more than 25,000 direct and indirect jobs and contributing billions of balboas - Panama's currency - to the country's said it wants to work with the government in Panama for a better future."Regarding the ongoing legal actions, we firmly believe that respect for legal protection and the rule of law are essential in order to provide businesses and investors with the certainty that Panama is a safe country to invest in," it company operates the ports of Balboa, in the Pacific, and Cristobal, in the Atlantic, under a concession contract approved in 1997 and renewed in 2021 for 25 more years. CK Hutchison is controlled by the family of Li Ka-shing , the southern Chinese city's richest comptroller authority in April said that an audit of Panama Ports Company found irregularities in the renewal of the concession. But the company denied allegations that it had failed to pay about $1.2 billion to the Central American President Jose Raul Mulino said during his weekly news conference on Thursday that he fully supported the comptroller's case and would await the court's verdict."We have all seen what that contract has costed the Panamanian nation over time," Mulino said without elaborating. He alluded to some sort of public-private partnership for the ports, saying there was a lot of interest from private companies, but that it was in the early stages and provided no Hutchison Holdings' initial plan, announced in March, to sell its port assets in dozens of countries to a group that includes the US investment firm BlackRock Inc., also got caught up in tensions between Beijing and President Donald Trump, who has alleged that China interferes with the canal, initially welcomed that plan. However, it apparently angered Beijing and drew a review by Chinese anti-monopoly months of uncertainty, Hutchison said on Monday that it may seek a Chinese investor to join a consortium of buyers, which also includes BlackRock subsidiary Global Infrastructure Partners and Terminal Investment Limited, a subsidiary of the Mediterranean Shipping initial deal, valued at nearly $23 billion, including $5 billion in debt, would have given the consortium control over 43 ports in 23 countries, including the two at the Panama Ports Company said Friday it would communicate with the Panamanian government "at the appropriate time," affirming that it believes engaging with the government "is vital to discuss the way forward for" the government maintains it has full control over the canal and that the operation of the ports by Hutchison does not mean Chinese control of it.
News18
an hour ago
- News18
'Only Thing Dead Is...': BJP Shares Growth Stats After Trump's Barb, Rahul Gandhi's Endorsement
Last Updated: The IMF's World Economic Outlook for July ranked India second only to China among developing economies, projecting a growth rate of 6.7 per cent in 2025 and 6.4 per cent for 2026. The BJP on Sunday offered a subtle rebuttal to US President Donald Trump's 'dead economy" remark by sharing India's strong economic growth, supported by data from the US-based International Monetary Fund (IMF). The IMF's World Economic Outlook ranked India second only to China among developing economies, projecting a robust growth rate of 6.7 per cent in 2025 and 6.4 per cent for 2026. Sharing the IMF data on X, BJP IT cell chief Amit Malviya took a pointed jab at Donald Trump over his 'dead economy" remark on India and mocked Rahul Gandhi for endorsing the claim. 'India continues to be the fastest-growing economy in the world, confirmed yet again by the IMF's World Economic Outlook update for July 2025," said Malviya. 'The only thing dead is Rahul Gandhi's self-respect and, if it exists, his brain," he added. India continues to be the fastest growing economy in the world, confirmed yet again by the IMF's World Economic Outlook update for July only thing dead is Rahul Gandhi's self-respect and, if it exists, his brain. — Amit Malviya (@amitmalviya) August 3, 2025 Announcing the tariff hike on Indian goods and an unspecified penalty over India's purchase of Russian crude and arms, Trump posted on Truth Social: 'I don't care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India, their tariffs are too high, among the highest in the world." Reacting to the claim, Congress MP Rahul Gandhi on Thursday agreed with Trump's remarks that the Indian economy is 'dead" and said he is 'glad" that the US President stated a fact. Speaking to reporters outside Parliament, Rahul Gandhi remarked that everyone around the world acknowledges the Indian economy is 'dead"—except for the Prime Minister and the Finance Minister. 'Yes, he is right. Everybody knows this except the Prime Minister and the Finance Minister. Everybody knows that the Indian economy is a dead economy. I am glad that President Trump has stated a fact. The entire world knows that the Indian economy is a dead economy," Gandhi said. However, Congress MP Shashi Tharoor appeared to distance himself from Rahul Gandhi's remarks, stating that the Leader of Opposition in the Lok Sabha may have had his 'own reasons" for making such a statement. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
an hour ago
- News18
PM KISAN 20th Instalment Money Not Received? Here's What To Do Now
Last Updated: PM Kisan 20th installment: PM Narendra Modi released Rs 20,500 crore. Delays may occur due to incomplete e-KYC or land seeding. Check how to resolve them. PM Kisan Samman Nidhi 20th Installment: Prime Minister Narendra Modi on Saturday released over Rs 20,500 crore under the PM Kisan 20th installment, at an event in Varanasi, Uttar Pradesh. Under this, each eligible farmer has received Rs 2,000 directly in their bank account. If you've applied for the scheme but haven't yet received your instalment, there's no need to worry. Delays can happen for various reasons, and steps can be taken to resolve the issue and ensure you receive your benefits. PM KISAN Instalment Not Received? Here's What to Do The Ministry of Agriculture had said earlier, 'Land seeding was made mandatory along with Aadhaar-based payment and e-KYC. The benefits of the farmers, who did not complete these mandatory criteria, were stopped. As and when these farmers complete their mandatory requirements, they receive the benefits of the scheme along with their due installments, if any." As per the scheme's official website, 'eKYC is MANDATORY for PMKISAN Registered Farmers." You can complete e-KYC in three simple ways: OTP-based e-KYC, biometric e-KYC, facial authentication. Visit the PM KISAN Official Website: Open your web browser and go to Find the 'Beneficiary Status" Section: On the homepage, look for the 'Beneficiary Status" option. Choose Your Search Method: You can check your status using your Aadhaar number, bank account number, or mobile number. Enter Your Details: Input the relevant information and click on the 'Get Data" button. Check Your Status: Your beneficiary status will be displayed, showing whether you are registered and have received your instalments. How to Register a Complaint: You can file a complaint through the PM KISAN Helpdesk. Eligible farmers can submit complaints from Monday to Friday. You can also send your grievance via email to the official support team. Email ID: pmkisan-ict@ and pmkisan-funds@ Call PM-Kisan Helpline No.: 011-24300606,155261 PM KISAN's toll-free number is 1800-115-526. An online query can also be raised using the direct link: On this link, the eligible farmer will have to enter their Aadhaar, bank account number, or mobile number before clicking on 'Get Details'. Under the PM-KISAN scheme, eligible farmers receive Rs 2,000 every four months, totaling Rs 6,000 annually. The payments are made in three instalments: April to July, August to November, and December to March. The funds are directly transferred to the beneficiaries' bank accounts. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : pm modi PM-Kisan view comments Location : New Delhi, India, India First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
