Economy

Taipa and Coloane underground gas pipes ready this year: Nam Kwong   

Nam Kwong Natural Gas Company Limited expects to finish the laying of underground natural gas pipes in Taipa and Coloane this year, and provide natural gas to all users in the area, the company’s Deputy General Manager and Chief Operating Officer Zhong Jianxin said Wednesday.

21 Jun, 2018

Macau could set up two more state-level laboratories this year

University of Macau is helping China become less reliant on foreign technology. Their latest project is a microchip that will allow smartphones to recharge batteries in other gadgets.

17 Jun, 2018

Macau people working in HK can apply for delta bridge car permit

The Macau government announced Wednesday that Macau permanent residents who are gainfully employed or running a company in Hong Kong can apply for a permit to drive their cars into the neighbouring city via the Hong-Kong-Zhuhai-Macau (HKZM) Bridge

14 Jun, 2018

Circulation fee to drive on new bridge priced at MOP 30,000

The quota attributed to Macau that will allow the circulation of 600 local vehicles over the Hong Kong- Zhuhai-Macau (HKZM) Bridge has been priced at MOP30,000 ( US 3,750) , according to a dispatch published in the Official Gazette.

12 Jun, 2018

Guangdong-Macau fund to have guaranteed return of 3.5 pct: govt

The Macau government said  Monday  that it will get a guaranteed 3.5 percent rate of return annually from the recently-established 20.01-billion-yuan Guangdong-Macau Cooperation Development Fund during its 12 year duration, regardless of any losses incurred in investment projects in the neighbouring province.

12 Jun, 2018

EIU expects Macau’s economic growth to slow in 2019

Macau’s economic growth is expected to slow by more than three percentage points this year from 9.1% in 2017 to 5.8%, before dropping back to 3.9% in 2019, according to forecasts ofrom the Economist Intelligence Unit (EIU) in its latest report on the territory.

12 Jun, 2018

New natural gas power plant in Ka Ho to be operational in 2021

Energy Sector Development Office Director Hoi Chi Leong said that the government aims for another natural gas power plant in local power utility CEM’s power station at Ka Ho in Coloane island to come into operation in 2021.

11 Jun, 2018

Macau wants to be an international diamond trading centre

Macau intends to set up an international trading centre for diamonds and rough gems, taking advantage, among other things, of the network of the Shanghai Diamond Exchange and the precious stones available in Portuguese-speaking countries, according to a statement from the Macau Trade and Investment Promotion Institute (IPIM).

8 Jun, 2018

Moody’s issues Macau with strong “Aa3 stable” rating

Credit ratings agency Moody’s Investors Service has issued Macau with a strong “Aa3 stable” rating, citing the absence of government debt and fiscal surpluses as factors supporting the build-up of large fiscal reserves.

6 Jun, 2018

Macau, Zhuhai vow to promote GBA development: Leong

Secretary for Economy and Finance Lionel Leong Vai Tac said Thursday that Macau will further strengthen its partnership with Zhuhai to jointly strengthen the development of the Guangdong-Hong Kong-Macau Greater Bay Area (GBA).

1 Jun, 2018

Lawmakers pass 2 finance leasing bills

The Legislative Assembly (AL) Thursday passed the outline of a government-initiated bill regulating the city’s finance leasing.

1 Jun, 2018

GDP rises 9.2 pct in Q1

Macau gross domestic product (GDP) in the first quarter of this year grew by 9.2 percent year-on-year in real terms, 1.2 percentage points higher than the 8.0 percent rise in the previous quarter, the Statistics and Census Bureau (DSEC) said Tuesday.

30 May, 2018

Chief Executive Chui Sai On called Monday for open-minded and innovative forms of cooperation between Macau and Beijing, particularly in terms of how to advance Macau’s participation in the central government’s Belt and Road Initiative (BRI) and in the development of the Guangdong-Hong Kong-Macau Greater Bay Area (GBA).

29 May, 2018

200 bus trips on delta bridge a day: govt

The Transport Bureau (DSAT) said Thursday it expects there will be more than 200 bus trips per day between the border checkpoints of the three jurisdictions for the Hong-Kong-Zhuhai-Macau (HKZM) Bridge – colloquially known as delta bridge – when it comes into operation.

25 May, 2018

Polytex vows to sue govt after Pearl Horizon ruling

Polytec Asset Holdings Limited said Thursday it was of the view that its Macau-registered affiliate Polytex Import and Export Company Ltd. “has strong legal grounds and arguments to seek compensation” from the Macau government “for losses and damages” concerning its mothballed Pearl Horizon property project.

25 May, 2018

Govt proposes changes to arbitration rules

Executive Council spokesman Leong Heng Teng said Thursday that the government has drafted a bill regulating the city’s arbitration procedures, which aims to encourage residents to choose arbitration as an alternative means of dispute resolution.

18 May, 2018

Govt grants new banking licence

The government announced Monday that it has granted a banking licence to Xinghui Bank Limited.

8 May, 2018

Govt says e-payment rising fast in city

There are over 8,000 mobile payment terminals set up in shops in Macau, Economic Services (DSE) Director Tai Kin Ip said Tuesday, pointing out that as e-payments are rising fast in the city, the government is studying the possibility of supporting small business owners planning to install the required equipment.

25 Apr, 2018

Govt warns public of cryptocurrency scams

The Judiciary Police (PJ) urged the public Thursday to be wary of suspected cryptocurrency investment frauds.

20 Apr, 2018

Guangdong and Macau Co-operation Development Fund to guarantee 3.5% annual return

The fund has a duration of 12 years, with Leong explaining that after seven years, it will recalculate the average investment return rate per annum.

13 Apr, 2018