New approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) declined in May 2015, according to statistics released by the Monetary Authority of Macau on Monday. In May 2015, new RMLs approved by Macau banks decreased 14.5% month-to-month to MOP 3.7 billion; of which, 96.3% was extended to residents. In terms of … Continue reading "Macau residential and commercial mortgage loans decline"
15 Jul, 2015
Local shops and restaurants installed with Macau Pass card reading terminals can now apply to upgrade them so that they can also accept payments made by Alipay Wallet mobile application and UnionPay QuickPass cards, Macau Pass’s managing director George Zhang announced on Friday at Macau International Electronics & Global Audiovisual Expo 2015. “This new service … Continue reading "Chinese online payment Alipay now accepted in Macau shops and restaurants"
8 Jul, 2015
Housing prices have dropped 30 percent from their peak and there is no sign of growth in the number of transactions, supply or price during the second half of this year, Ricacorp Macau Managing Director Jane Liu Zee Ka said on Wednesday. Liu made the remarks during a press conference at the Emperor Hotel in … Continue reading "Home prices down 30 pct, no sign of growth in second quarter"
2 Jul, 2015
Macau’s estimated jobless rate rose by 0.1 percentage point to 1.8 percent in March-May from the February-April survey period, the Statistics and Census Bureau (DSEC) announced on Monday. Year-on-year, the rate also increased by 0.1 percentage point. The city’s total labour force stood at 405,700 and the labour force participation rate amounted to 74 percent … Continue reading "Macau jobless rate rises to 1.8 pct"
30 Jun, 2015
Macau’s exports and imports fell in May, the Statistics and Census Bureau (DSEC) said on Monday. Exports fell 5.9 percent year-on-year to just 874 million patacas. Re-exports accounted for 82.2 percent of all exports. Both Re-exports and domestic exports were down. Imports dropped 4.3 percent to 6.9 billion patacas, resulting in a trade balance deficit … Continue reading "Macau exports and imports fall in May"
30 Jun, 2015
Macau’s number of imported workers – popularly known as blue card holders – reached 179,416 at the end of last month, up 17.8 percent year-on-year, the Human Resources Office (GRH) has announced. Macau’s total workforce stood at 405,800 in April, according to the latest available employment figures by the Statistics and Census Bureau (DSEC). Mainlanders … Continue reading "Macau’s imported workers reach 179,416"
26 Jun, 2015
The Economist Intelligent Unit (EIU) has significantly increased its economic contraction forecast for the Macau economy this year to 24.0 percent, according to a report produced on 17 June. In the previous report, produced five days before, on 12 June, for this year the EIU outlined a contraction of just 6.0 percent. The EIU also … Continue reading "Macau’s GDP expected to contract 24 pct in 2015, EIU says"
25 Jun, 2015
Secretary for Economy of Finance Lionel Leong Vai Tac said on Thursday he hoped that through today’s meeting with Guangdong officials the two sides could reach an agreement on the framework for the local government’s plan to invest part of its huge reserves via the Guangdong government. Leong is accompanying Chief Executive Fernando Chui Sai … Continue reading "Leong hopes to strike Macau-Guangdong investment deal today"
25 Jun, 2015
Both temporary and permanent residents of Macau will be receiving government cash handouts starting July 6 and ending September 18, as the Executive Council (ExCo) has given its green light to this year’s cash handout scheme. ExCo’s spokesperson Leong Heng Teng revealed at a press conference on Thursday that the government is committed to sharing … Continue reading "Macau cash handouts to start on July 6th"
19 Jun, 2015
The Macau government recorded a fiscal surplus of 25.28 billion patacas in the first five months of this year, down by 54.9 percent year-on-year, according to the latest figures released by the Financial Services Bureau (DSF). Total public revenue in the five months stood at 46.42 billion patacas, down 33.8 percent year-on-year. This noticeable drop … Continue reading "Macau fiscal surplus drops 54.9 percent in 5 months"
16 Jun, 2015
The Macau economy is expected to start growing again in 2016, when the technical Economist Intelligence Unit predicts real growth of 5.3 percent, according to the most recent report on Macau. After the GDP of the territory recorded a growth rate of 10.7 percent in 2013 and negative 0.4 percent in 2014, the EIU report … Continue reading "Macau’s economy is expected to resume growth in 2016"
16 Jun, 2015
The sixth International Infrastructure Investment and Construction Forum kicked off here Thursday in Macau. Over 1,000 representatives from more than 50 countries and regions attended the two-day forum, themed “Regional Economic Integration Spurs New Development of International Infrastructure Cooperation.” Focuses of the forum include opportunities, challenges and innovative cooperation modes in the field of infrastructure … Continue reading "Int’l Infrastructure Investment & Construction Forum opens in Macau"
5 Jun, 2015
Macau’s average residential property price per square metre dropped 21.6 percent to 103,128 patacas in April, the Finance Services Bureau (DSEC) has announced. According to the bureau, the average size of the units amounted to 68 square metres. The average price in Taipa was 139,080 patacas per square metre, up 31.5 percent year-on-year. In Coloane, … Continue reading "Property prices fall 21.6 pct in April"
1 Jun, 2015
Macau’s economic output tumbled 24.5 percent in real terms in the first quarter, the Statistics and Census Bureau (DSEC) announced on Thursday, as a widening graft crackdown and slowing economy in the mainland keeps high rollers away from the city’s casinos. The fall in gross domestic product (GDP) from a year earlier was the deepest … Continue reading "Macau GDP in Q1 slumps as casino revenues plunge"
29 May, 2015
Sales of watches, clocks and jewellery fell 31 percent to 3.7 billion patacas in the first quarter, the Statistics and Census Bureau (DSEC) announced on Tuesday. Watches, clocks and jewellery accounted for 23 percent of all retail sales –the sector’s biggest segment. Sales of leather goods dropped 28 percent to 1.59 billion patacas. Sales of … Continue reading "Macau retail sales of watches jewellery fall 31 pct in Q1"
27 May, 2015
Macau’s inflation rate eased to 4.51 percent in April, the Statistics and Census Bureau (DSEC) announced on Thursday. According to a DSEC statement, the city’s composite consumer price index (CPI) for April increased 4.51 percent year-on-year, down from the 5.10 percent growth in March. The bureau pointed out that higher residential rents and the rising … Continue reading "Macau inflation eases to 4.51 percent in April"
22 May, 2015
Chief Executive Fernando Chui Sai On says in his first ever audio message, which was released on his official website on Sunday, that Macau’s overall development maintains a “positive trend”. However, he urged citizens to be aware of any challenges that may lie ahead. Chui also says in the audio message, whose release coincided with … Continue reading "Macau’s development keeps ‘positive trend’: Chui"
11 May, 2015
In April this year, the Macau International Airport (MIA) recorded steady growth in passenger traffic volume and aircraft movements. Passenger volume surpassed 480,000 and aircraft movements totaled over 4,500, representing 6 pct and 6.5 pct increases respectively when compared to the same period last year. Among the three key regional market shares, the Taiwan market … Continue reading "Macau Airport records steady growth in April"
7 May, 2015
Secretary for Economy and Finance Lionel Leong Vai Tac said Tuesday the government would have to cut its expenditure if the city’s average gross gaming revenue drops to 18 billion patacas a month. The policy secretary made the remark after attending an annual seminar hosted by the Macau Chamber of Commerce (ACM) in Nape. Leong … Continue reading "Macau to cut spending if casino revenue dips under 18 billion patacas a month"
29 Apr, 2015
Macau recorded 7.4 million visitor arrivals in the first quarter, down 3.6 percent year-on-year, the Statistics and Census Bureau (DSEC) announced on Monday. Same day visitors accounted for 56.6 percent of the total number of visitor arrivals in the first three months. Mainlanders and Hongkongers accounted for 67.8 percent and 20.3 percent of all visitors … Continue reading "Macau visitors drop 3.6 percent in Q1, down 13 percent in March"
28 Apr, 2015