Port workers at billionaire Li Ka- shing’s Hongkong International Terminals Ltd. ended the longest strike at Hong Kong’s container terminal as they accepted a 9.8 percent wage increase, resolving a dispute that damaged the city’s reputation as a trade hub.
Thousands of Hong Kong residents took to the streets today for Labor Day marches to petition for better labor conditions and in support of strike action by workers at docks operated by billionaire Li Ka-shing.
Hundreds of port workers at Li Ka- shing’s Hong Kong terminals surrounded his Cheung Kong Center headquarters in the city’s business district after rejecting a pay raise aimed at ending a three-week strike.
Li Ka-shing, Asia’s richest man, dominates half of the capacity at Hong Kong’s port, where a two week-long strike threatens to send traffic to Shenzhen. That won’t hurt Li. The billionaire controls that port as well.
Billionaire Li Ka-shing’s Hongkong International Terminals Ltd. is losing customers as a strike by dockworkers causes a 20-fold increase in vessel berthing times at the world’s third-biggest container port.
Striking dockworkers at Hongkong International Terminals Ltd., the port operator backed by billionaire Li Ka-shing, will resume talks with their employers today after discussions yielded no agreement yesterday.
Striking dockworkers at Hongkong International Terminals Ltd., the port operator backed by billionaire Li Ka-shing, will hold talks with their employers today amid signs that the stoppage may be losing support.