Business

MGM China net revenues fall 94 pct in Q3, expecting gradual recovery

Macau gaming operator MGM China announced Friday that its net revenues decreased by 94 percent year-on-year to US$47 million in the third quarter.

31 Oct, 2020

MIF, MFE & PLEPEX sign over 100 deals in 3 days

The 25th MIF, 2020MFE and 2020PLPEX ended on Saturday, and the three-day exhibitions resulted in the signing of over 100 contracts.

27 Oct, 2020

Property price index dips 0.3% in June-Aug

Macao's overall residential property price index for June-August dipped by 0.3% over the previous survey period (May-July) to 268.0.

23 Oct, 2020

3 use false documents to apply for investment residency scheme

The Commission Against Corruption (CCAC) said in a statement on Thursday that it has detected three cases involving the use of false documents to apply for residency through the government’s qualified investment scheme. 

23 Oct, 2020

MIF, MFE, PLPEX triple event signs 52 deals on 1st day

The 25th Macao International Trade and Investment Fair (MIF), Macao Franchise Expo 2020 (MFE) and 2020 Portuguese Speaking Countries Products and Services Exhibition (Macao) (PLPEX), which are running concurrently, started on Thursday, and 52 contracts were signed on the first day.

23 Oct, 2020

MIF, MFE & PLPEX’s 1st concurrent event starts tomorrow

The 25th MIF, MFE 2020 and 2020 PLPEX will have their first concurrent event tomorrow at the Venetian Expo Hall A-C.

21 Oct, 2020

Aviation sector in ‘very difficult’ time

Secretary for Transport and Public Works Raimundo do Rosário said on Wednesday that a three-year period will be a suitable length of time for the local government’s extension of Air Macau’s monopoly, which was originally slated to expire early next month, adding that Macao’s civil aviation sector is going through a “very difficult” time due to the COVID-19 pandemic.

15 Oct, 2020

Air Macau gets conditional 3-year extension of monopoly (Update)

Macao flag carrier Air Macau has been granted a three-year conditional extension of its exclusive concession by the local government.

14 Oct, 2020

Air Macau concession extended until 2023

The Macao government extended Air Macau’s public concession service for three more years from 9 November, according to the Official Gazette (BO) today.

14 Oct, 2020

Polytex withdraws MOP 25 billion compensation appeal

Property developer Polytex has withdrawn its appeal to claim MOP 25 billion in compensation from the government for the latter’s decision to axe its ill-fated Pearl Horizon project, the Court of Final Appeal (TUI) has announced.

13 Oct, 2020

Ho set to meet Xi in Shenzhen this week

Chief Executive Ho Iat Seng will not be in Macao until Wednesday, the Macao government announced today.

12 Oct, 2020

Government disinvests from incubator centre

The government has relinquished all its shares in the Macau New Technologies Incubator Centre (Manetic) which, notwithstanding the government’s retreat, will continue to operate.

8 Oct, 2020

SJM to postpone Grand Lisboa Palace opening to next year

SJM executive-cum-lawmaker Angela Leong On Kei told reporters that there is a high probability that the opening of the Grand Lisboa Palace casino-hotel resort in Cotai will be postponed until next year.

8 Oct, 2020

COVID-19 reduces wine imports by 47% in H1

Due to the economic impact of the COVID-19 pandemic, Macao's wine imports fell by nearly 47 per cent to about MOP 245 million in the first half of the year, public broadcaster Rádio Macau-TDM reported this week.

7 Oct, 2020

Golden Week visitors fall 87% in first 4 days 

Macao's number of visitor arrivals in the first four days of the 8-day National Day/Mid-Autumn Festival holiday fell by 87.4% year-on-year to 77,092.

5 Oct, 2020

Hong Kong vows to relax cross-border travel with Macao and Guangdong 

The Hong Kong government is planning to set up a "health code" system that allows quarantine-free travel among Hong Kong, Guangdong and Macao.

5 Oct, 2020

MPay to be available in Hong Kong next year

Macau Pass plans to extend its MPay electronic wallet to Hong Kong next year in conjunction with the latter's Octopus Holdings cashless payment platform.

4 Oct, 2020

Golden Week visitor arrivals to Macao drop 87.2% in first 2 days 

Macao's visitor arrivals on the first two days of the eight-day National Day Golden Week (1-2 October) fell by 87.2% year-on-year to 37,619.

3 Oct, 2020

Macao looks forward to welcoming tourists from Hong Kong when the city becomes ‘low risk’

Chief Executive Ho Iat Seng said on Thursday that Macao looks forward to welcoming tourists from Hong Kong once the neighbouring SAR is deemed a ‘low-risk’ city.

2 Oct, 2020

Macao’s F&B imports fall 26% in January-August

Macao's imports of food and beverages fell by 26.2% year-on-year to MOP 6.68 billion (US$835 million) in the first eight months of the year.

2 Oct, 2020