Economy

Overall Macau Light Rail Transit could cost at least US$ 6.25 billion: auditor

In a hard-hitting report published Thursday, the Commission of Audit (CA) says that the estimated construction cost for the eight sections of Macau’s Light Rail Transit (LRT) system that the government has planned for the short, medium and long terms amounts to at least 50 billion patacas (US$ 6.25 billion)

14 Sep, 2018

Macau’s new approvals of residential mortgages, commercial real estate loans decrease

Both of the new approvals of residential mortgage loans and commercial real estate loans in Macau reported a month-on-month decrease in July this year, according to statistics released by the Monetary Authority of Macau.

12 Sep, 2018

Macau’s GBA role to advance PPRD development: Leong

Secretary for Economy and Finance Lionel Leong Vai Tac said Wednesday that Macau’s role in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) will advance the development of the Pan-Pearl River Delta (PPRD) region.

6 Sep, 2018

Mobile phone imports rise 93 pct in Jan-July

Macau’s imports of mobile phone rose 93.1 percent to 4.08 billion patacas in the first seven months of the year, the Statistics and Census Bureau (DSEC) said in a statement.

3 Sep, 2018

Macau’s GDP growth slows to 6 pct in Q2

Macau’s gross domestic product (GDP) growth in the second quarter of this year slowed to 6 percent year-on-year in real terms, the Statistics and Census Bureau (DSEC) said in a statement Sunday

27 Aug, 2018

Macau, Zhuhai vow to promote TCM platform

Secretary for Economy and Finance Lionel Leong Vai Tac said Wednesday that Macau will further strengthen its partnership with Zhuhai to jointly strengthen the development of the Hengqin-based platform for traditional Chinese medicine (TCM).

23 Aug, 2018

‘One country, two systems’ essential to GBA success: Han

Vice-Premier Han Zheng and head of the leading group for the development of the Guangdong-Hong Kong-Macau Greater Bay Area (GBA), said Wednesday that the 11 GBA cities needed to fully utilise the area’s “comprehensive” advantages to build a vibrant and internationally competitive area.

16 Aug, 2018

Macau Government launches tender for 200 ‘green’ radio taxis

The Transport Bureau (DSAT) said in a statement Wednesday that it has launched a tender for a company licence to operate up to 200 special radio taxis and that the winning bidder will have to buy hybrids or other environmentally-friendly cabs.

16 Aug, 2018

Chui to attend 1st GBA leading group meeting in Beijing

Chief Executive Fernando Chui Sai On will attend the first meeting of the Leading Group for the Development of the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) in Beijing Wednesday.

14 Aug, 2018

Govt says won’t obey top court’s LRT depot tender ruling

The government said Wednesday it will not obey a ruling by the city’s top court according to which it would need to reassess the rival quotations submitted by seven bidders in a public tender for the construction of the depot of the Light Rail Transit (LRT) system.

9 Aug, 2018

Credit cards rise 10 pct to 1.2 million in June  

The number of personal credit cards issued by local banks rose 10.4 percent year on year and 2.2 percent quarter on quarter to 1.24 million at the end of June, the Macau Monetary Authority (AMCM) said.

8 Aug, 2018

Macau Government plans to explore and promote the development of maritime industries

The Macau government intends to explore new hubs to sustain economic growth and promote the development of emerging maritime industries, which will give the territory and the “One Centre, One Platform,” concept a new dynamic, said the Chief Executive.

6 Aug, 2018

Govt ‘unable’ to recover 212 million patacas Viva Macau loan

The Economic Services Bureau (DSE) said in a statement Sunday that it was unable to recover a 212 million patacas (US$ 26,424 million) loan granted to locally incorporated airline Viva Macau in 2008-09 and the latter’s Hong Kong-registered Eagle Airways as guarantor.

23 Jul, 2018

Govt surplus reaches 30 billion patacas in June  

The government’s current budget surplus reached 30.52 billion patacas at the end of June, a year-on-year increase of 50.8 percent, the Finance Services Bureau (DSF) announced Thursday.

20 Jul, 2018

Helping young people get on property ladder is next step: JLL  

With a stable economy, housing prices would have a stable rise of within 10 percent for the whole year, which is “very healthy” and the next step for the government is to help young couples get on the property ladder as a way to solve the under supply problem, as forecast by the local branch of US-based real estate consultancy firm Jones Lang LaSalle (JLL).

19 Jul, 2018

Light Rail Transit budget rises to US$ 2 billion: lawmaker

The government’s latest overall budget for the Light Rail Transit (LRT) project amounts to 16.4 billion patacas ( US$ 2.05 billion) – but not including the still unscheduled LRT peninsula section, Mak Soi Kun, who heads the legislature’s Follow-up Committee for Public Finance Affairs, quoted government officials as saying.

18 Jul, 2018

Govt launches ‘Macau Classic Brand’ scheme

A scheme named “Macau Classic Brand” opened for applications Monday, aiming to recognise local brands with Macau characteristics.  

17 Jul, 2018

6th Macau Ministerial Forum meeting postponed to 2020

The sixth ministerial meeting of Forum Macau, which had been scheduled for 2019, will be delayed until 2020, according to diplomatic sources linked to the institution.

16 Jul, 2018

Lawmakers pass coastal waters framework bill  

The Legislative Assembly (AL) passed a government-drafted bill on the management of Macau’s coastal waters, slated to come into effect after its promulgation in the Official Gazette (BO), during a plenary session Thursday.  

13 Jul, 2018

Legislature passes bill banning off-duty gaming staff from casinos

A plenary session of the Legislative Assembly (AL) passed the outline of a government-initiated bill proposing a ban on off-duty gaming staff entering local casinos.

13 Jul, 2018