CK Hutchison Rejects Accusations Over Panama Ports Payments
CK Hutchison Holdings Ltd rejected accusations it failed to pay about 1.2 billion balboas ($1.2 billion) to the Panamanian state over the concession contract to run the two key ports in the Central American country.
The accusations are 'absolutely contrary to reality.' and the company has invested more than 1.695 billion balboas, Panama Ports Co., a unit of the Hong Kong-listed conglomerate, said in a statement. That surpasses the 50 million balboas required under the original concession contract and the 1 billion balboas agreed under the addendum to operate the Balboa and Cristobal port terminals. Panama's comptroller general confirmed this in 2020 after a thorough audit process, the company said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
Fortnum & Mason plots first UK stores outside London
Fortnum & Mason is plotting its first UK stores outside of London after a surge in customer demand for regular top-ups of luxury teas, biscuits and jam. Tom Athron, the chief of the luxury retailer, said he would be interested in opening stores 'up the spine of the country', adding: 'We do like the idea of stepping beyond Piccadilly [where it has its flagship store], and certainly stepping beyond London.' Fortnum & Mason currently only has four UK stores – including at St Pancras station, a 'tea salon' in London and Heathrow Terminal 5, as well as one site in Hong Kong. Opening outside London would mark the first time the Royal grocer has set up a permanent UK base away from the capital in its 318-year-history. Mr Athron did not say where a new Fortnums could open – but said he would look at sites in a 'beautiful location' with 'beautiful architecture'. He suggested Fortnum would probably consider opening one or two outposts, adding: 'This isn't about ubiquity. But there are other locations across the country where we think that Fortnum could offer both retail and restaurants, where it would be relevant. And we're looking at those now.' It comes as the retailer said it was no longer seen as a 'Christmas focused' business, with customers using Fortnum & Mason to 'stock their own larders' throughout the year. Fortnum & Mason earlier this month launched a new membership scheme – with those signing up to the 'Friends of Fortnum's' programme getting access to tickets for dining events as well as free delivery. Mr Athron said any new store away from London would 'remove the barriers' for the membership scheme and allow members to attend these events. Fortnum & Mason will also look at opportunities to open more airport stores, with Mr Athron saying: 'We would love the opportunity to have shops and restaurants in every terminal at Heathrow.' The plans come despite signs that households are slamming the brakes on spending, amid concerns over the economy. Figures from the British Retail Consortium last week suggested retail sales rose by just 1pc in the year to May. Mr Athron said Fortnum was not seeing a drop in demand. He said: 'What we tend to find is that when people become more judicious in the way that they spend their money, they switch out handbags and trainers for small luxuries they can take home – things like a really special jar of jam.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
4 hours ago
- Yahoo
BAIC Group Showcases Eight International Models at the 2025 International Automotive & Supply Chain Expo (Hong Kong)
Hong Kong, China--(Newsfile Corp. - June 15, 2025) - On June 12, 2025, the International Automotive & Supply Chain Expo officially opened at AsiaWorld-Expo, Hong Kong. As the largest auto exhibition in Hong Kong's history and a key automotive platform in the Asia-Pacific region, BAIC Group, together with BAIC International and BAIC Foton, showcased eight international models from four independent passenger vehicle brands alongside advanced technological achievements, demonstrating the strength of China's intelligent manufacturing. At the "Intelligence in motion· Future in vision" BAIC Group booth, the group's passenger and commercial vehicle brands made their joint debut at the international Expo. In response to global trends in green mobility and infrastructure diversity, the brands showcased diverse powertrain options and application-specific models to address the varied mobility needs of users worldwide. Featured models included the BJ40 PLUS RHD, renowned for its robust off-road capability, and the new X55 RHD, which blends sleek design with dynamic performance. Other key passenger vehicles showcased included the ARCFOX αS5, delivering ultra-fast charging and high performance, and the ARCFOX αT5, designed for intelligent and comfortable driving experiences. The STELATO S9 REEV, a premium electric sedan under the STELATO brand, features a dual powertrain layout combining range-extender and pure electric technologies. In the commercial vehicle segment, BAIC Foton presented the eView, an electric school bus, and the Auman Galaxy 9. Notably, the BJ40 PLUS RHD and X55 RHD models have launched in markets such as Indonesia and Malaysia, earning positive market reception and customer praise. The booth also displayed BAIC's proprietary technologies, including highly integrated battery cells, coaxial electric drives, dedicated hybrid transmissions, the "Polaris" high-end electric vehicle platform, and the world's first AI-integrated cockpit platform, highlighting BAIC's intelligent innovation capabilities. In recent years, BAIC Group has accelerated its global expansion, with six R&D/design centers worldwide, 41 overseas factories, and products covering over 130 countries and regions. Cumulative overseas sales have exceeded 1.2 million units. BAIC International offers over 30 product series, while BAIC Foton has led China's commercial vehicle exports for 14 consecutive years. Leveraging the platform provided by this auto expo, BAIC Group will strengthen regional cooperation, advance brand internationalization, and support the sustainable global development of China's automotive industry. Company Name: BAIC Zheng JiexiE-Mail: zhengjiexi@ +86 15711041168Website: To view the source version of this press release, please visit
Yahoo
5 hours ago
- Yahoo
Fortnum & Mason plots first UK stores outside London
Fortnum & Mason is plotting its first UK stores outside of London after a surge in customer demand for regular top-ups of luxury teas, biscuits and jam. Tom Athron, the chief of the luxury retailer, said he would be interested in opening stores 'up the spine of the country', adding: 'We do like the idea of stepping beyond Piccadilly [where it has its flagship store], and certainly stepping beyond London.' Fortnum & Mason currently only has four UK stores – including at St Pancras station, a 'tea salon' in London and Heathrow Terminal 5, as well as one site in Hong Kong. Opening outside London would mark the first time the Royal grocer has set up a permanent UK base away from the capital in its 318-year-history. Mr Athron did not say where a new Fortnums could open – but said he would look at sites in a 'beautiful location' with 'beautiful architecture'. He suggested Fortnum would probably consider opening one or two outposts, adding: 'This isn't about ubiquity. But there are other locations across the country where we think that Fortnum could offer both retail and restaurants, where it would be relevant. And we're looking at those now.' It comes as the retailer said it was no longer seen as a 'Christmas focused' business, with customers using Fortnum & Mason to 'stock their own larders' throughout the year. Fortnum & Mason earlier this month launched a new membership scheme – with those signing up to the 'Friends of Fortnum's' programme getting access to tickets for dining events as well as free delivery. Mr Athron said any new store away from London would 'remove the barriers' for the membership scheme and allow members to attend these events. Fortnum & Mason will also look at opportunities to open more airport stores, with Mr Athron saying: 'We would love the opportunity to have shops and restaurants in every terminal at Heathrow.' The plans come despite signs that households are slamming the brakes on spending, amid concerns over the economy. Figures from the British Retail Consortium last week suggested retail sales rose by just 1pc in the year to May. Mr Athron said Fortnum was not seeing a drop in demand. He said: 'What we tend to find is that when people become more judicious in the way that they spend their money, they switch out handbags and trainers for small luxuries they can take home – things like a really special jar of jam.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
