Economy

Macau GDP forecast

IMF forecasts 13.4% GDP growth this year

The International Monetary Fund (IMF) has raised its forecast of Macau’s gross domestic growth (GDP) to 13.4 percent for this year, according to its World Economic Outlook – October 2017.

12 Oct, 2017

Monetary regulator bars lenders from ICO market

The Macau Monetary Authority (AMCM) urged local banks and other payment institutions Wednesday to refrain from providing services of initial coin offerings (ICOs) and cryptocurrencies.

28 Sep, 2017

Macau hosts meeting to discuss traditional Chinese medicine cooperation

A symposium on international cooperation in traditional Chinese medicine (TCM) kicked off in Macau Wednesday, focusing on the standardisation of TCM and its entry into the global market.

28 Sep, 2017

Local management skills improve from last year

The findings of a survey carried out by the Macau Management Association (MMA) released Monday show that management staff skills in local companies have improved this year.

26 Sep, 2017

Hato typhoon is reminder for need for Macau diversification

Economic Services Bureau (DSE) Director Tai Kin Ip said Sunday that last month’s Hato disaster has made Macau’s civil society “fully” realise the “complexity of the reality”, adding that the government would think “deeply” about how to diversify the local economy in order to consolidate the city’s industrial structure.

25 Sep, 2017

Macau Service Complex to be built by Omas

The new Service Complex for Economic Cooperation between China and Portuguese-speaking countries will be built by Companhia de Construção e Engenharia Omas, Limitada for MOP 692.8 million (US$ 86.1 million), according to the Land, Public Works and Transport Bureau (DSSOPT).

25 Sep, 2017

BNU celebrates 115 years in Macau

Caixa Geral de Depósitos (CGD) and Banco Nacional Ultramarino de Macau are strong believers and supportive of the Chinese and Macau governments’ mission to make the territory a platform for closer commercial relations between China and Portuguese speaking countries, said Wednesday CGD Chief Executive Officer, Paulo Macedo.

21 Sep, 2017

Hato insurance claims reach 2.9 billion patacas: new monetary chief

Newly-appointed Macau Monetary Authority (AMCM) President Benjamin Chan Sau San said Tuesday the latest figures showed that the insurance claims filed in the wake of Super Typhoon Hato have reached 2.9 billion patacas (US$ 363 million).

20 Sep, 2017

Govt reveals vehicle tax rebate for Hato damage

Financial Services Bureau (DSF) Director Iong Kong Leong Thursday announced details of a vehicle tax rebate scheme for vehicle owners affected by Super Typhoon Hato.

8 Sep, 2017

GDP grows 11.5 percent in Q2

Macau’s gross domestic product expanded by 11.5 percent year-on-year in real terms in the second quarter of 2017

28 Aug, 2017

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