Economy

Yuan

China says no more “irrational” investment in gaming

China formally laid down new rules on overseas investments, making explicit its de facto campaign against “irrational” acquisitions of assets in industries ranging from real estate and hotels, to gaming and entertainment

21 Aug, 2017

Macau-Wanzai

Smart city project to cost extra 200 million patacas a year

The government expects to spend an additional 200 million patacas a year for the next two years to implement projects related to Macau’s smart city development.

15 Aug, 2017

Air Macau continues pilot recruitment programme in South America and Europe

Air Macau will continue in 2018 with the programme to recruit captains to fly Airbus 320 aircraft in South America and Europe, and the recruitment drive in Europe will take place in April of that year.

15 Aug, 2017

Government to study Jockey Club development plan

Secretary for Economy and Finance Lionel Leong Vai Tac said that the government has decided to extend the horse-racing concession of the Macau Jockey Club.

10 Aug, 2017

Monetary regulator gets new chief

Chief Executive Fernando Chui Sai On has appointed Benjamin Chan Sau San chairman of the board of directors of the Macau Monetary Authority (AMCM), according to an executive order published in the Official Gazette (BO) on Wednesday.

10 Aug, 2017

Smart cities

Government inks smart city deal with Alibaba

The local government has signed a framework agreement with Alibaba Group to develop Macau into a smart city, by using Alibaba’s big data processing capabilities to enhance the quality of the city’s public services.

7 Aug, 2017

telecommunications

Government to issue ‘quad play’ licences

The government proposes to issue licences for telecom operators who provide “quadruple play” of cable television, Internet access, fixed line and mobile communication services in Macau, Secretary for Transport and Public Works Raimundo do Rosario said on Monday.

1 Aug, 2017

Beijing Capital Airlines

Macau-Beijing-Lisbon route takes off

The first Beijing-Macau flight from Beijing Capital Airlines landed at Macau International Airport (MIA) on Tuesday, marking the beginning of flights bringing passengers to Macau from Beijing and then to the Lisbon terminal.

26 Jul, 2017

airport land reclamation

Government asks Beijing to allow airport land reclamation

Macau Civil Aviation Authority said on Tuesday that the local government has requested the central government’s permission to reclaim land in the waters between the local airport’s two taxiways that link the runway and the apron.

26 Jul, 2017

money laundering

No complacency in anti-money laundering work says Lionel Leong

Secretary for Economy and Finance Lionel Leong Vai Tac said at the weekend that the government will not be complacent after achieving good results in the Asia/Pacific Group on Money Laundering (APG) Mutual Evaluation Report (MER) 2017.

24 Jul, 2017

Lionel Leong

Leong says won’t seek Nation People’s Congress re-election

Secretary for Economy and Finance Lionel Leong Vai Tac said that he will not seek re-election in the upcoming election for local deputies to the 13th National People's Congress (NPC).

11 Jul, 2017

June gaming revenue

Gross gaming receipts in June rose 25.9 percent

Gross gaming receipts in June rose to 19.99 billion patacas, 25.9 percent year on year.That compares with the median prediction for a 30 percent increase in a Bloomberg survey of 11 analysts and follows a 24 percent jump in May.

3 Jul, 2017

Chui Sai On

Chui expects Great Bay Area to be ‘vibrant’ zone 

Chui Sai On says he expects the Guangdong-Hong Kong-Macau Greater Bay Area to be developed into a “vibrant” international region and a world-class metropolis.

3 Jul, 2017

ATMs in Macau

Macau ATMs need face time before payout to follow the money

Chinese bettors withdrawing money from some ATMs in Macau need to do more than punch in their PIN code.

30 Jun, 2017

Government to release plan for 5th Macau-Taipa link at year-end

The Macau government will release its plan for a tunnel project near the old Macau-Taipa bridge – earmarked as the fifth Macau-Taipa link – at the end of this year, Ho Ion Sang, who heads the legislature’s Follow-up Committee for Land and Public Concession Affairs, quoted government officials as saying Tuesday.

28 Jun, 2017

Macau Foundation buys palace in Lisbon

The public Macau Foundation (FM) has bought a palace in Lisbon for 70 million patacas (US$ 8.75 million) from local businessman Liu Chak Wan, who is a member of its council of trustees, the Portuguese-language channel of government-owned broadcaster TDM reported Tuesday.

28 Jun, 2017

Macau receives more than 13 million visitors from January to May

From January to May Macau received more than 13 million visitors, an increase of 6.3% over the same period of 2016, according to figures released on Friday by the Statistics and Census Bureau (DSEC).

23 Jun, 2017

Eight unlicensed eateries closed at Soho space of City of Dreams

A total of 13 restaurants operated without licences for three years at the Soho space of City of Dreams (COD) in Cotai, Macau Government Tourism Office (MGTO) Director Maria Helena de Senna Fernandes said Thursday, adding her office has ordered eight of them to clos

23 Jun, 2017

EIU forecasts average growth of 7.8% for Macau in 2017/2018

Macau's economy is expected to grow at an average real rate of 7.8% this year and 2018, boosted by the recovery in services exports, particularly those related to gambling, according to the latest Economist Intelligence Unit (EIU) report.  

22 Jun, 2017

Macau CPI up 0.95% in May

Composite consumer prices index in Macau increased by 0.95 percent year-on-year, the statistics department said on Wednesday. Composite CPI increased to 109.20 in May, "which was attributable to higher charges for eating out and outpatient services, as well as increase in tuition fees.

22 Jun, 2017