Panama's top court makes a key ruling on China's involvement in the country's famous canal.

Live from the UK, this is the Marketplace Morning Report from the BBC World Service.

I'm William Lee Adams. Good morning.

The Panama Canal handles about 5% of global trade, allowing ships to pass between the Atlantic and Pacific oceans. It's been a focus

for President Trump, who previously threatened to bring the canal back under American control.

Now the Supreme Court in Panama has annulled a concession that's allowed a Hong Kong-based

company to operate two of the five container ports on the canal. Ian McWilliam has more.

Panama Supreme Court has found that the laws allowing the giant Hong Kong conglomerate

Siki Hutchinson to operate two of the canal's five ports were unconstitutional. It's unclear

what will happen next. The ruling could disrupt the company's plans to sell its interests

in ports worldwide to a consortium involving the American investment

firm BlackRock. President Trump, at the start of his second term, threatened to reimpose U.S.

control over the Panama Canal, as he said, in effect, China was operating it. The two powers

are involved in a growing rivalry over control of global trade routes. Ian Mick William there,

China's foreign ministry has said the country will take all necessary measures

to resolutely safeguard the legitimate rights and interests of Chinese enterprises.

Meanwhile, Venezuela's parliament has passed a new bill that will pave the way for more private

investors in its oil industry.

That was one of the key demands of the

U.S. after it seized the country's president Nicholas Maduro and carried out strikes on the capital.

The Trump administration has also eased sanctions on Venezuela's oil industry to allow new American investment.

The country has the biggest reserves in the world. The BBC's Gideon Long has more.

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