Economy

Monetary Authority of Macao raises discount base rate

Monetary Authority of Macao raises discount base rate to 1.25%

The Monetary Authority of Macau (AMCM) increased its overnight discount base rate by o.25% of a percentage point to 1.25%, the AMCM said in a statement issued on Thursday.

17 Mar, 2017

Macau’s economy expected to grow 5.2 percent in 2017

Macau’s economy expected to grow 5.2 percent in 2017

The Macau economy is expected to grow at a rate of 5.2 percent in 2017 and an average rate of 5.3 percent in 2018, according to the latest report on Macau from the Economist Intelligence Unit (EIU).The publication adds that the expected economic growth will be based on increased gaming revenues.

15 Mar, 2017

Infrastructure Development Office

Government extends GDI, sets up OBOR office

The operation of the Infrastructure Development Office (GDI) will be extended for another two years, to June 30 2019, according to an announcement published in the Official Gazette (BO) on Monday. The government announced in 2015 that the operation of the office will be extended to June 30, 2017. The office was set up in … Continue reading "Government extends GDI, sets up OBOR office"

7 Mar, 2017

Macau's GDP 2017

Macau’s GDP to grow 2.5 percent in 2017

Fitch Ratings is expecting Macau’s GDP to grow 2.5 percent in 2017, supported by improving gaming revenues from new resort openings.

28 Feb, 2017

One Belt, One Road

“Belt and Road” to complement Macau and Guangdong ties

Macau´s Chief Executive, Chui Sai On, said on Friday that participating in the development of the “Belt and Road” initiative would complement Macau and Guangdong ties.

27 Feb, 2017

Macau's 2016 GDP

Macau’s 2016 GDP falls 2.1 percent, compared to 2015 21.5 percent drop

Macau’s gross domestic product (GDP) shrank by 2.1 percent year on year in real terms last year, an improvement from the 21.5 percent drop in 2015, the Statistics and Census Bureau (DSEC) said on Thursday.

24 Feb, 2017

Macau's GDP

Macau’s GDP grew 7 percent in 4Q of 2016

Macau's economy grew 7 percent in the fourth quarter of last year, followed by a 4 percent rise in the previous homologous period, the Secretary for Economy and Finance, Lionel Leong, announced on Wednesday.

23 Feb, 2017

Macau's inflation

Macau’s inflation increases in January

Macau's composite consumer price index (CPI) in January rose 1.76 percent year on year, up 0.32 percentage points from the 1.44 percent growth in the previous month, the Statistics and Census Bureau (DSEC) announced on Tuesday.

22 Feb, 2017

Macau taxi fare

Taxi groups call for taxi fare hike

Representatives of several taxi groups submitted a joint application for an increase in taxi fare to the Transport Bureau (DSAT) on Monday. The cabbies insisted that the increase was needed to keep pace with the sector’s rising running costs.

21 Feb, 2017

2017 GDP growth

IMF raises Macau’s 2017 GDP growth forecast to 2.8 percent

The International Monetary Fund (IMF) has revised its forecast on Macau's 2017 GDP growth rate for this year to 2.8 percent from its previous forecast of 0.2 percent.

16 Feb, 2017

BNU

BNU records 9.8 percent rise in net income for 2016

Banco Nacional Ultramarino (BNU) announced on Tuesday its unaudited financial results for 2016, recording a 9.8 percent increase in net income to MOP560.5 million for the year.

15 Feb, 2017

industrial sector

Macau government finishes study on industrial sector

The Economic Services Bureau (DSE) has finished a study on how Macau should reposition itself in the development of its industrial sector, according to a statement from the bureau on Sunday.

13 Feb, 2017

Macau's economy

Leong expects Macau’s economy to show ‘modest’ growth

Secretary for Economy and Finance Lionel Leong says the government is confident that Macau’s economy will record “modest” growth this year. Macau’s economy in the first half of last year continued the downward trend seen in 2015, the second half of 2016 recorded a “relatively stable” performance.

13 Feb, 2017

Hong Kong-Zhuhai-Macau bridge

Macau will have to chip in for Hong Kong-Zhuhai-Macau bridge costs

The final costs of construction for the Hong Kong-Zhuhai-Macau bridge will exceed the original estimated budget. The three governments will now have to chip in on a proportional basis to make up for the difference.

10 Feb, 2017

credit cards in Macau

Number of credit cards in Macau in 2016 exceeds one million

The number of personal credit cards issued, directly or indirectly, by credit institutions in Macau reached 1.06 million.

7 Feb, 2017

Book Pearl River Delta

Pearl River Delta research book launched in Macau

The International Institute of Macau has launched the book “Pearl River Delta – From World Factory to Global Innovator,” with the aim of analysing the economic future of the Pearl River Delta region of southern China.

7 Feb, 2017

Lionel Leong

Lionel Leong doesn’t promise minimum wage in Macau in 2019

Secretary for Economy and Finance Lionel Leong Vai Tac declined on Wednesday to say whether the government could keep its promise that the city’s law on a statutory minimum wage for all workers will finally be implemented in 2019.

26 Jan, 2017

Prices in Macau rise 2.37 per cent in 2016

Prices in Macau in 2016 recorded an average annual increase of 2.37 per cent due to a rise in the price of car park leases, the prices of meals bought away from home, cars and tobacco and the costs of buildings management services, reported the Statistics and Census Bureau.

24 Jan, 2017

Macau’s GDP expected to grow 3.2 per cent

The Department of Economics, University of Macau (UM) released a report stating that the region’s economy is beginning to recover and is forecast to “continue its steady growth in 2017.”

23 Jan, 2017

Macau banker expects housing prices to fall

Macau Small and Medium Enterprises (SMEs) Association President Stanley Au Chong Kit said on Thursday he expected housing prices in the city to drop this year, in the expectation that the US Fed will raise interest rates several times in the year ahead.

20 Jan, 2017