Economy

BNU Macau helps secure income for Portuguese state bank Caixa Geral de Depósitos

Portuguese state bank Caixa Geral de Depósitos (CGD) posted a profit of 3.4 million euros in the period from January to September, a decrease of 92 percent over the amount recorded in the same period of 2014, the bank said in a statement. In a statement on accounts in the first nine months of the … Continue reading "BNU Macau helps secure income for Portuguese state bank Caixa Geral de Depósitos"

17 Nov, 2015

Banker calls for Macau government investment fund

The government should establish an investment fund to manage Macau’s financial reserves, said Delta Asia Financial Group Chairman Stanley Au Chong. Au made the appeal on the sidelines of a banquet celebrating the 80th anniversary of the founding of Banco Delta Asia, a local bank owned by the group, at Grand Hyatt Macau in Cotai … Continue reading "Banker calls for Macau government investment fund"

17 Nov, 2015

Macau non-resident construction wages soar 8.5 percent

The average daily wage of non-resident construction workers increased by 8.5 percent to MOP661 in the last quarter due to a surge in demand, according to data from the government. In particular there has been an increase in demand for labourers engaging in interior finishing works of large-scale entertainment facilities, currently in progress in Cotai. … Continue reading "Macau non-resident construction wages soar 8.5 percent"

5 Nov, 2015

Growth in retail receipts falls to lowest since 2004

According to government data, growth in retail receipts has fallen to its lowest rate since 2004 – a slowdown in the year-on-year growth to only 4.3 percent, which amounts to a total of MOP 68.75 billion. The authorities suggested that the reason for this change might be a slowdown in visitor spending. Information released by … Continue reading "Growth in retail receipts falls to lowest since 2004"

3 Nov, 2015

Macau unemployment rate remains stable

The unemployment rate for the July-September period has remained stable with little change compared with the June-August period, according to data from the government. The unemployment rate remained at 1.9 percent, with the number of unemployed up by 100 to 7,600 persons. Of the total labor force of 402,500, labor force participation also remained at … Continue reading "Macau unemployment rate remains stable"

29 Oct, 2015

Mainland-Macau Trade rises 35.2 percent in nine months

Trade between the Chinese mainland and Macau increased by 35.2 percent year-on-year to USD3.56 billion during the first nine months of 2015, the Ministry of Commerce revealed on Tuesday. The mainland’s exports to Macau rose by 37.4 percent year-on-year to USD3.42b during the January-September period. The MSAR’s exports to the mainland totaled USD140m, a decrease … Continue reading "Mainland-Macau Trade rises 35.2 percent in nine months"

28 Oct, 2015

East European gang steals over 1,000 card details

An East European gang has stolen the details of over 1,000 ATM and credit cards since last October, Chan Cho Man, a Judiciary Police (PJ) spokesman, said on Monday. According to Chan, the police received calls from five banks from March to May, which reported that someone was trying to withdraw money from 26 of … Continue reading "East European gang steals over 1,000 card details"

27 Oct, 2015

MIF registers slight increase in trade visitors, some exhibitors disappointed

More professional purchasers showed up at this year’s 20th Macau International Trade and Investment Fair (MIF) than last year, according to the organizer’s preliminary data. Running over four consecutive days at The Venetian Macao since last Thursday, the event saw a total of 50 agreements inked between chambers and governments as well as around 574 … Continue reading "MIF registers slight increase in trade visitors, some exhibitors disappointed"

26 Oct, 2015

Macau is equipped to cope with adversity says Leong Vai Tac

Secretary for Economy and Finance Lionel Leong Vai Tac said on Thursday that the foundation of Macau’s economy has remained relatively stable and is equipped with the conditions and ability to cope with adversity while the city is undergoing a period of economic adjustment. Addressing the opening ceremony of the 20th Macau International Trade and … Continue reading "Macau is equipped to cope with adversity says Leong Vai Tac"

23 Oct, 2015

5,100 trade visitors expected on the 20th Macau International Trade and Investment Fair

Over 5,100 trade visitors from Macau and more than 50 regions and countries are expected to attend the four-day 20th Macau International Trade and Investment Fair (MIF), which will kick off on Thursday, Irene Va Kuan Lau, co-ordinator of the annual event’s organising committee, said on Tuesday. Lau, an executive director of the Macau Trade … Continue reading "5,100 trade visitors expected on the 20th Macau International Trade and Investment Fair"

20 Oct, 2015

Macau construction sector boots local economy

The main indicators of the construction sector registered a general increase in 2014, largely due to the construction of hotels and entertainment facilities, according to information from the Statistics and Census Service (DSEC). The statistical data indicates that the value of construction increased by 63.2 percent year-¬on-year to MOP78.15 billion, intermediate consumption rose by 60.2 … Continue reading "Macau construction sector boots local economy"

6 Oct, 2015

Macau balance of trade deficit totals US$6.2 billion from January to August

The Macau balance of trade recorded a deficit of 49.36 billion patacas between January and August, an improvement of 3.2 percent over the deficit recorded in the same period of 2014, of 51 billion patacas, reported the region’s Statistics and Census Bureau. In the first eight months of 2015 Macau exported goods worth 7.291 billion … Continue reading "Macau balance of trade deficit totals US$6.2 billion from January to August"

5 Oct, 2015

Centaline sees no further drop in housing prices

Sales and rental prices for shop units and office and industrial building spaces have continued to drop but housing prices will not go further down with prices returning to the level they were at the start of the year, Centaline (Macau) Property Agency Director Jacky Shek Pou Tak predicted on Tuesday. Shek made the forecast … Continue reading "Centaline sees no further drop in housing prices"

30 Sep, 2015

Macau currency to be used in Hengqin

Mainland authorities are striving to draw up a preliminary scheme within the year that would allow local currency to be used in Hengqin before they move to seek approval from the Chinese central bank. This information was revealed by Hengqin New Area Administrative Committee director Niu Jing on the sidelines of a session exploring financial … Continue reading "Macau currency to be used in Hengqin"

23 Sep, 2015

EIU predicts Macau’s real GDP will contract 21% this year

Macau’s real GDP in 2015 will probably contract sharply by 21% as the anti-corruption campaign in China will continue in 2015-16, according to the Economist Intelligence Unit (EIU) latest report. In this report, dated 21st of September, EIU analysts predict spending in Macau’s casinos will probably begin to expand again by the last few months … Continue reading "EIU predicts Macau’s real GDP will contract 21% this year"

22 Sep, 2015

Macau Inflation eases to 4.64 percent

Macau’s composite consumer price index (CPI) rose 4.64 percent year-on-year last month, the Statistic and Census Bureau (DSEC) said in a statement on Monday. According to a DSEC statement, inflation has eased continuously since May, with last month’s rate dropping further by 012 percent-age points from July, when growth stood at 4.76 percent. Last month’s … Continue reading "Macau Inflation eases to 4.64 percent"

22 Sep, 2015

Macau Dore depositors submitted petition over funds

Dozens of depositors in local junket operator Dore Entertainment Company submitted a petition to the Liaison Office of the Central People’s Government on Wednesday, urging it to help them get back their funds which they deposited in the company, involving at least HK$700 million, according to some of the investors. The petition came after news … Continue reading "Macau Dore depositors submitted petition over funds"

17 Sep, 2015

Macau Government income drops 32.3 percent in January-August

The Macau government’s receipts dropped 32.3 percent year-on-year to 72.7 billion patacas in the first eight months of the year, the Finance Services Bureau (DSF) announced on Monday. The government’s income from direct gaming taxes fell 35.5 percent to 58.58 billion patacas. Gaming tax payments accounted for 80.6 percent of the government’s total revenue between … Continue reading "Macau Government income drops 32.3 percent in January-August"

15 Sep, 2015

Macau Real Estate mortgage loans decrease

The new real estate mortgage loans (RMLs) approved by Macau banks decreased 23.9 percent year-on-year in July, according to figures released by the Monetary Authority of Macau. New RMLs increased 6.6 percent month-on-month, reaching MOP4.2 billion in value, and 96.6 percent of them were granted to residents. In terms of value, new RMLs to residents … Continue reading "Macau Real Estate mortgage loans decrease"

14 Sep, 2015

Macau lawyers ‘interested in Hengqin partnerships’

Some local lawyers are interested in providing legal services in partnership with their mainland counterparts on Hengqin Island, Macau Lawyers Association (AAM) President Jorge Neto Valente said on Sunday. However, he was quick to add that no one had yet put the idea into practice. Heading an AAM delegation of 19 to Gansu province, Neto … Continue reading "Macau lawyers ‘interested in Hengqin partnerships’"

7 Sep, 2015