Economy

Lawmakers pass amended budget, first to fall back on reserves

Macau's Legislative Assembly has passed the government's 2020 budget amendment bill, the first budget falling back on its financial reserves.

28 Mar, 2020

China Import and Export Fair in Guangdong postponed

The 127th session of the China Import and Export Fair, or the Canton Fair, previously scheduled between April 15 and May 5, will be postponed, given the high risk of imported COVID-19 cases.

24 Mar, 2020

Over 3/4 of citizens register for consumption smartcard in 2 days

By 6 p.m. on Thursday, 482,035 registrants – over three-quarters of local citizens – had submitted their details to apply for the government’s consumption smartcards.

20 Mar, 2020

Consumption smart card website can process up to 250,000 registrations per hour

Registration for consumption smart cards begins at 9 a.m. tomorrow, with the website being able to process 250,000 registrations per hour.

17 Mar, 2020

Melco hires 100 local construction workers

Macau gaming operator Melco Resorts and Entertainment said in a statement on Monday that it has offered 100 job opportunities to unemployed local construction workers in conjunction with the Labour Affairs Bureau (DSAL) and Macau Federation of Trade Unions (commonly known as Gung Luen, its Cantonese name). The statement said that the company took the … Continue reading "Melco hires 100 local construction workers"

16 Mar, 2020

Macau regulator lowers base rate to 0.86%

The Macau Monetary Authority lowered its base rate (BR) of the discount window by 64 basis points to 0.86%.

16 Mar, 2020

Hong Kong orders quarantine for arrivals from Europe, Korea 

The Hong Kong government says all arrivals from Europe's Shengen bloc and South Korea will have to isolate themselves at home for 14 days starting  March 17 (Tuesday).

14 Mar, 2020

Jobless rate stays at 1.7%

Macau's general unemployment rate, which comprises local and non-resident workers, and local residents' jobless rate remained unchanged at 1.7% and 2.3% respectively in the November 2019-January 2020 survey period.

10 Mar, 2020

Macau’s residential property price index dips 0.9%

Macau's overall residential property price index for November 2019-January 2020 dropped 0.9% over the previous survey period (October-December 2019).

9 Mar, 2020

Government expects budget deficit of over MOP 40 billion over COVID-19 epidemic

The government expected a budget deficit of over 40 billion patacas for this year due to the adverse impact of the COVID-19 epidemic on the local economy.

6 Mar, 2020

Macau regulator lowers base rate to 1.50%

The Macau Monetary Authority (AMCM) lowered its base rate (BR) of the discount window by 50 basis points to 1.50%.

4 Mar, 2020

MGM launches more measures to help SMEs hit by COVID-19 crisis

Macau gaming operator MGM has announced further measures to assist small- and medium-sized enterprises (SMEs) in coping with the adverse impact of the COVID-19 epidemic. 

3 Mar, 2020

Macau GDP shrinks 4.7% in 2019

Macau's gross domestic product shrank 4.7% in real terms last year, the Statistics and Census Bureau (DSEC) announced on Saturday.

29 Feb, 2020

Macau’s international banking assets rise to MOP 1.7 trillion last year

Macau's international banking assets rose 12.7 per cent year-on-year to 1.71 trillion patacas (US$214 billion) at the end of last year.

27 Feb, 2020

Macau’s financial reserves gain 5.6% in 2019

The financial reserves of the Macau Special Administrative Region (MSAR) gained a record 5.6% last year, when they reached around MOP 580 billion (US$72.5 billion).

26 Feb, 2020

Macau government will facilitate conditions to provide support to SMEs

The Macau Government will review the legal diploma that requires at least two years of registration in the Financial Services Bureau for SMEs to apply for existing support plans.

25 Feb, 2020

Macau government to start paying wealth-sharing handouts on April 1 

The government announced on Monday that it will start paying out its annual wealth-sharing handouts to residents on 1 April.

24 Feb, 2020

1.43 million personal credit cards in Macau at end of 2019

The number of personal credit cards issued by banks in Macau rose 8.8% year-on-year to 1.4 million at the end of last year.

22 Feb, 2020

Gaming tax payments fall 13% in January 

The government's income from gaming taxes fell 13.% year-on-year to 8.83 billion patacas (US$1.1 billion) in January.

20 Feb, 2020

Trial of ex-trade promotion chief for graft to start on April 27: Radio Macau

Former president of the government's Macau Trade and Investment Promotion Institute Jackson Chang will go on trial on April 27 for a raft of alleged crimes such as organised crime, corruption, money laundering and breach of secrecy. 

20 Feb, 2020