Economy

BNU donates 1.6 million patacas to Macau’s oldest charity

Local Portuguese lender BNU has donated 1.6 million patacas to Tung Sin Tong, the city’s oldest charitable organisation. According to a BNU statement issued on Tuesday, BNU Chief Executive Officer Pedro Cardoso handed the donation to Tung Sin Tong President Chui Sai On at the social welfare body’s headquarters last Friday. Tung Sin Tong has … Continue reading "BNU donates 1.6 million patacas to Macau’s oldest charity"

11 May, 2016

Caixa Geral de Depósitos aims to faciliate businesses between China and the PSC’s

Portuguese state financial group Caixa Geral de Depósitos (CGD) plans, from a base in Macau where it has a significant presence through the Banco Nacional Ultramarino (BNU), plans to function as a business facilitator between China and the Portuguese-speaking countries, the group’s “Chief China Officer”, Alberto Soares, told Macauhub. Taking into account the role already … Continue reading "Caixa Geral de Depósitos aims to faciliate businesses between China and the PSC’s"

10 May, 2016

Macau posts trade deficit of US$1.825 billion in the 1st quarter

Macau’s trade deficit in the first quarter of 2016 reached 14.602 billion patacas (US$1.825 billion), a year on year improvement of 25.3 per cent, reported the Statistics and Census Bureau. According to the Bureau, the trade deficit in the first quarter of 2015 totalled 19.5516 billion patacas. In the first three months of 2016, Macau … Continue reading "Macau posts trade deficit of US$1.825 billion in the 1st quarter"

4 May, 2016

BNU recorded a MOP 510 million net income in 2015

Banco National Ultramarino, S.A. (BNU) recorded a net income of MOP 510.3 million (USS63.88 million) in 2015, up 15.1 per cent from MOP 443.3 million in 2014, according to a press release issued on Tuesday by the bank. The financial results also indicate that in 2015 BNU registered a 21.6 per cent increase in credit … Continue reading "BNU recorded a MOP 510 million net income in 2015"

27 Apr, 2016

Inflation growth slows in March

Macau’s composite consumer price index (CPI), a main gauge of inflation, grew 3.31 per cent in March from a year earlier, according to official data from the Statistics and Census Service (DSEC) revealed on Thursday. This is a decrease of 0.57 per centage points from the 3.88 per cent year-on-year growth recorded in February. DSEC attributed … Continue reading "Inflation growth slows in March"

22 Apr, 2016

IMF says Macau economy to contract 7.2 per cent in 2016

The International Monetary Fund (IMF) forecast Macau SAR’s economy to contract 7.2% for 2016 and to resume a positive growth of 0.7% for 2017 informed the Monetary Authority of Macau on Wednesday. The international organisation indicated that Macau SAR’s inflation to linger around 3.0% and its unemployment rate to stay at a low level of … Continue reading "IMF says Macau economy to contract 7.2 per cent in 2016"

14 Apr, 2016

Hainan wants more co-operation with Macau

Hainan and Macau have many different and complementary strengths, Liu Cigui, governor of the nation’s southernmost province, said on Monday, adding that the two sides should step up their co-operation in various spheres such as tourism. “We attach great importance to Macau and are grateful for Macau businesspeople’s long-term contribution to Hainan. Currently there are … Continue reading "Hainan wants more co-operation with Macau"

12 Apr, 2016

Macau Airport Q1 passenger traffic rises 20%

Macau International Airport reported its passenger traffic rose 20% compared to a year ago to a more than 1.6 million passengers in the first quarter this year, or 18,000 passengers daily. The airport handled more than 14,000 flights (departure and arrival), a rise of 7% year-on-year. During the four-day Easter Holidays, the airport handled more … Continue reading "Macau Airport Q1 passenger traffic rises 20%"

7 Apr, 2016

New Macau Economic Bureau official vows to boost ‘community-based economies’

Newly-appointed Economic Services Bureau (DSE) Director Tai Kin Ip said on Tuesday his bureau would do more to boost “community-based economies” by providing support to small- and medium-sized enterprises (SMEs) and improving the business environment. Tai made the pledge after the swearing-in ceremony for his new post at the Bank of China Building in Nam … Continue reading "New Macau Economic Bureau official vows to boost ‘community-based economies’"

6 Apr, 2016

Macau casino’s revenue decline in Q1 ‘expected’

Secretary for Economy and Finance Lionel Leong Vai Tac said on Tuesday the 13.3 percent year-on-year decrease in the city’s casino revenue in the first quarter was what the government had expected. The Gaming and Inspection Co-ordination Bureau (DCIJ) announced on Friday that the casino sector’s gross revenue fell 13.3 percent year-on-year to 56.17 billion … Continue reading "Macau casino’s revenue decline in Q1 ‘expected’"

6 Apr, 2016

Mainland-Macau trade down in Jan-Feb

Trade between the Chinese mainland and Macau totalled 460 million U.S. dollars in the first two months of this year, down 32 percent year on year, according to data from the Ministry of Commerce (MOC). Mainland exports to Macau stood at 440 million U.S. dollars, decreasing by 31.2 percent year on year. Imports from the … Continue reading "Mainland-Macau trade down in Jan-Feb"

5 Apr, 2016

Macau mobile phone imports fell 50 per cent in Jan-Feb

Macau’s imports of mobile phones fell by 50.2 per cent year-on-year to 1.009 billion patacas in the first two months, the Statistics and Census Bureau (DSEC) announced on Thursday. Imports of watches dropped by 36.4 per cent to 758 million patacas. Gold jewellery imports declined by 19.7 per cent to 1.07 billion patacas. Imports of … Continue reading "Macau mobile phone imports fell 50 per cent in Jan-Feb"

1 Apr, 2016

PSC product centre in Macau to boost business opportunities

Macau’s newly opened Portuguese-speaking Countries Food Exhibition Centre, where over 700 kinds of products are on display, will help companies explore business opportunities, Macau Trade and Investment Promotion Institute (IPIM) President Jackson Chang Chou Weng said on Thursday. Addressing the opening ceremony of the centre in the so-called Glass House in Praça do Tap Seac, … Continue reading "PSC product centre in Macau to boost business opportunities"

1 Apr, 2016

Macau power utility CEM made 662 million patacas profit in 2015

Power utility CEM announced on Thursday a net profit of 662 million patacas, up 8.8 per cent year-on-year. The announcement came after the company’s annual general meeting. According to a CEM statement, the city’s power consumption increased by 6.2 per cent to hit a record high of 4,966 GWh last year. Peak Demand rose by … Continue reading "Macau power utility CEM made 662 million patacas profit in 2015"

1 Apr, 2016

Air Macau profits fell 70 per cent in 2015

Air Macau ended 2015 with net profits of 31 million yuan (38.3 million patacas at current exchange rates), representing a decrease of 70.58 per cent compared to the 106 million recorded in the previous year, according to the local daily Tribuna de Macau. The data is contained in the annual report released on Wednesday by … Continue reading "Air Macau profits fell 70 per cent in 2015"

31 Mar, 2016

Macau is expected to return to economic growth in 2017

Macau should return to economic growth in 2017, the year in which, according to experts from the Economist Intelligence Unit (EIU) there will be a return to positive values ​​with a real rate of 4.6 percent, according to the latest report on the territory. This positive growth rate occurs after three consecutive years of negative … Continue reading "Macau is expected to return to economic growth in 2017"

30 Mar, 2016

Consumer prices in Macau up to 3.9 per cent

Inflation increased slightly last month, thanks to higher prices for restaurant meals and fresh food during the Lunar New Year period. According to data released on Monday, consumer prices increased by almost 3.9 per cent year-on-year in February, slightly higher than in January. In fact, it was the smallest Lunar New Year increase in five … Continue reading "Consumer prices in Macau up to 3.9 per cent"

22 Mar, 2016

Trade between Macau and Taiwan increases in 2015

The President of the Macau Trade and Investment Promotion Institute (IPIM) said in Taipei that trade between Macau and Taiwan reached US$181 million in 2015, representing an increase of 1.3 percent over the previous year. Jackson Chang also recalled, at a seminar on the exchange between companies from Macau and Taiwan, that commercial flights between … Continue reading "Trade between Macau and Taiwan increases in 2015"

16 Mar, 2016

Macau’s trade deficit improves by 21 percent in January

Macau’s balance of trade deficit recorded a 21 percent improvement in January due to a contraction of 1.579 billion patacas in goods imports, reported the region’s Statistics and Census Bureau. In January Macau imported goods worth 6.956 billion patacas, against 9.493 billion patacas a year earlier, which together with an increase 1.5 percent in exports … Continue reading "Macau’s trade deficit improves by 21 percent in January"

2 Mar, 2016

MICE statistics of Macau shown increase of events in Q4

According to a Statistics and Census Service (DSEC) report, a total of 239 MICE events were held during the fourth quarter of 2015. This is an increase of six year-on-year. In the same period, the number of meetings and conferences increased by 13, while that of exhibitions decreased by seven. The total number of participants … Continue reading "MICE statistics of Macau shown increase of events in Q4"

29 Feb, 2016