Business

Gaming receipts fall 94.5% in July

Macau's gross gaming revenue fell 94.5% year-on-year to MOP 1.344 billion (US$168 million) in July.

1 Aug, 2020

Commercial property rents in Central Macao retreat to 2010 levels

The number of residential and commercial property sales plunged in the first half of the year amid the ongoing coronavirus-induced economic recession. According to real estate experts, the situation today is similar to 2014, when the property market was reeling from a sharp contraction in gross gaming revenue.

23 Jul, 2020

Urban Kitchen reopens with new buffet concept amid COVID-19

Galaxy Macau’s JW Marriott Hotel has reopened its Urban Kitchen restaurant with a new buffet-dining concept and limited-time discount.

10 Jul, 2020

IFTM student project helps LESS IS MORE startup

The public Macau Institute for Tourism Studies (IFTM) said in a statement that it continues its effort to support small businesses during the COVID-19 pandemic through student projects.

10 Jul, 2020

UM, NKOIL ink deal on collaboration in smart city development

The public University of Macau (UM) and state-owned Nam Kwong Petroleum & Chemicals Co. Ltd. (NKOIL) have signed a strategic cooperation framework agreement.

6 Jul, 2020

Imports fall 39% in May, exports drop 24%

Macao's merchandise imports fell by 39.1 percent year-on-year in May, while exports dropped by 24.2 percent .

30 Jun, 2020

Joint Announcement of People’s Bank of China

Joint Announcement of People’s Bank of China, Hong Kong Monetary Authority, and Monetary Authority of Macao on Launch of Cross-boundary Wealth Management Connect Pilot Scheme in Guangdong-Hong Kong-Macao Greater Bay Area

30 Jun, 2020

Poon says CTM ready to launch 5G

Local telecom operator CTM CEO Vandy Poon Fuk Hei said on Monday that his company was ready to launch its 5G service as soon as the government issues the operating licence.

30 Jun, 2020

Forum Macao can help Portuguese speaking-countries attract more Chinese investment

The deputy secretary-general of the Forum Macao, Rodrigo Brum said that Portuguese-speaking countries ⁠– namely Portugal ⁠– should take more advantage of this organisation to attract Chinese foreign investment, namely in greenfield investments.

29 Jun, 2020

CTM’s 2019 profit rises 7% to MOP 1.01 billion

Macao's top telecom operator CTM reported a net profit of MOP 1.01 billion last year, a 7% year-on-year increase.

25 Jun, 2020

CTM says full 5G outdoor coverage at month-end

The installation of a 5G network for full outdoor coverage will be completed at the end of this month and introduce a string of new technologies.

24 Jun, 2020

Jewellery shop fined MOP 400,000 for illegal currency exchange

The Monetary Authority of Macao (AMCM) announced on Wednesday that it has fined a local jewellery shop MOP 400,000 for illegal currency exchange activities. 

18 Jun, 2020

Macao’s newly approved residential mortgage loans drop by 35.1% in April

The new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) by Macao banks both decreased in April 2020.

12 Jun, 2020

Macau ranks globally 48th among international convention cities

Macau has moved up 23 places to 48th among international convention cities worldwide, according to the “International Meetings Market 2019 Report” recently published by the International Congress and Convention Association (ICCA).

26 May, 2020

Bank staff wages rise 5.2% in March

The average earnings – excluding bonuses – of the banking sector’s full-time employees rose 5.2% year-on-year to 30,460 patacas in March.

26 May, 2020

Retail sales drop 45% in Q1

Macau’s value of retail sales fell 45.1% year-on-year to MOP 11.2 billion in the first quarter.

26 May, 2020

Property sales fall in April and Q1

The number of property units sold last month fell 43.7% year-on-year to 443.

19 May, 2020

CTM to invest MOP 2 billion to optimise 5G network

Telecom operator CTM has completed the construction of the core network for its 5G service, vowing to invest another MOP 2 billion (US$251 million) in the network for five years to continuously optimise the network.

18 May, 2020

Macau International Airport cancels 5,200 flights in May

Macau International Airport has cancelled 5,220 flights and has only 20 daily flights scheduled to operate in May.

15 May, 2020

IPIM to get new president

Lau Wai Meng, one of the two vice-directors of the Economic Services Bureau (DSE), will be the new president of the Macau Trade and Investment Promotion Institute (IPIM), the Portuguese-language radio channel of public broadcaster TDM reported on Thursday.

15 May, 2020