Economy

Residential property price per square metre drops to below MOP 100,000

The Macao Special Administrative Region's (MSAR) average residential property price dropped to below MOP 100,000 (US$12,500) per square metre last month.

17 Aug, 2020

Future Bright’s Macao turnover drops 82% in Q2 

Future Bright Holdings' turnover in Macau dropped 82.1% year-on-year to HK$32.4 million in the second quarter of this year.

16 Aug, 2020

Galaxy chairman praises government’s ‘admirable performance’ in fighting COVID-19

Galaxy Entertainment Group (GEG) Chairman Lui Che Woo said today that "the Macao government continues to perform admirably throughout the [COVID-19] pandemic".

13 Aug, 2020

Government revenue drops 61.9% in Jan-July

The government’s total current revenue fell 61.9% year-on-year to MOP 28.53 billion in the first seven months of this year, the Financial Services Bureau (DSF) announced on Wednesday.

13 Aug, 2020

Lawmakers satisfied with government’s overall investment performance

The government’s 2019 foreign exchange reserves, fiscal reserves and Guangdong-Macao Cooperation and Development Fund’s investment scheme have been reviewed and the follow-up committee is satisfied with its investment performance.

12 Aug, 2020

US lifts sanctions on Delta Asia Bank

The Federal Register of the United States has announced the lifting of special measures imposed on Macao’s Delta Asia Bank, and the withdrawal of the Notice of Finding involving the local bank.

11 Aug, 2020

COVID-19 impact reduces Macao population by nearly 11,000

Due to the socio-economic impact of the Covid-19 pandemic, Macao's population fell by 10,700 quarter-on-quarter to 685,400 at the end of the second quarter

10 Aug, 2020

Wynn Macau revenue falls 98.2% in Q2

Wynn Macau said that its total operating revenues fell 98.2% year-on-year to US$20.6 million (MOP 163.9 million) in the first quarter of the year.

5 Aug, 2020

Lawmakers pass bill allowing government to provide more bank loan guarantees for SMEs

The Legislative Assembly on Tuesday passed unanimously a government-initiated bill which allows the government to take on debt of up to MOP 2.2 billion (US$275.6 million) for its two loan guarantee schemes for local small- and medium-sized enterprises (SMEs).

5 Aug, 2020

AL follow-up committee continues to monitor government’s immovable property

The Legislative Assembly’s (AL) Follow-up Committee for Public Finance Affairs will continue to monitor the government’s immovable property, especially when the government is running a budget deficit this year.

5 Aug, 2020

Broad money supply rises 3.7% in June

Macao’s broad money supply rose 3.7% month-on-month in June with a stable share of patacas, the Macao Monetary Authority (AMCM) said in a statement on Tuesday.

5 Aug, 2020

China’s Greater Bay Area stymied by lack of coordination and research facilities, review finds

A review of the Greater Bay Area in southern China has identified shortcomings that have slowed progress on Beijing’s plan for the region to become a hi-tech hub, including not enough research facilities and poor coordination and flow of talent and capital between the cities.

5 Aug, 2020

China’s US$68 billion Greater Bay Area rail plan for faster, easier city links

China will invest CNY 474.1 billion (US$67.9 billion) to improve rail connection in the Greater Bay Area, building 775 km (480 miles) of intercity railway and five transport hubs, according to a plan approved by the National Development and Reform Commission.

5 Aug, 2020

Gaming receipts fall 94.5% in July

Macau's gross gaming revenue fell 94.5% year-on-year to MOP 1.344 billion (US$168 million) in July.

1 Aug, 2020

Government has spent MOP 10 billion on consumption card

Secretary for Economy and Finance Lei Wai Nong told reporters on Wednesday that the government has already spent MOP 10 billion on alleviating residents’ burden of COVID-19.

30 Jul, 2020

Government opens tender for construction of the Seac Pai Van metro line

The Macao government opened today a public tender for the main construction of the Seac Pai Van Line of the light rail.

29 Jul, 2020

110,000 residents top up their consumption smartcards on 1st day

About 110,000 residents went to top up their consumption subsidy smartcard on Monday, the first day of the procedure, according to a statement from Economic Services Bureau (DSE), as the government’s second phase subsidy scheme giving each resident MOP 5,000 to spend locally begins on Saturday.

28 Jul, 2020

Consumption smartcard top-up to start on Monday

Residents can start to top up their consumption smartcards for the second phase of the government’s subsidy scheme to boost locals’ spending from Monday at various service points across the city, the government announced on Thursday.

24 Jul, 2020

Over 40,000 haven’t collected their consumer cards

There are 614,000 residents who have collected their first round of consumption subsidy smartcards, which equates to 93% of those registered.

10 Jul, 2020

COVID-19 quarantine waiver extended to 8 more GBA cities  (Update)

The Macao government said in a statement today that from 8 am Monday (6 July) Macao residents entering Zhuhai can visit the eight other mainland cities in the GBA.

5 Jul, 2020