Economy

Wynn Palace revenues up, Wynn Macau down in 4Q

Operating revenues from Wynn Palace were US$740.6 million for the fourth quarter of 2018, up 12.8 percent year-on-year.

1 Feb, 2019

Locals’ jobless rate dips to 2.4 pct in 2018

Local residents’ unemployment rate dropped by 0.3 percentage points to 2.4 percent year-on-year last year, the Statistics and Census Bureau (DSEC) said in a statement .

29 Jan, 2019

US think tank gives Macau clean bill of ‘fiscal health’ 

A conservative US think tank has given Macau top marks for its “fiscal health.”

28 Jan, 2019

Inflation rate hit 3.01 pct in 2018

Macau’s inflation rate amounted to 3.01 percent last year, up by 1.78 percentage points from the 1.23 percent rate in 2017, the Statistics and Census Bureau (DSEC) announced .

23 Jan, 2019

Property prices to drop up to 10 pct this year: JLL

Property prices will face a downward correction, with local Jones Lang LaSalle (JLL) representatives yesterday forecasting a drop of up to 10 percent in prices of residential and retail units.

17 Jan, 2019

Beijing approves blueprint for ‘Greater Bay Area’ to rival with document expected to be released on February 21

Beijing has just approved a much-awaited blueprint to create an IT-led economic powerhouse in southern China after ironing out intricate competition and technical issues, and will unveil it in late February.

13 Jan, 2019

LRT trains to run from 6 a.m. to 1 a.m.: govt

Macau’s Light Rapid Transit (LRT) trains will run daily from 6 a.m. to 1 a.m., Secretary for Transport and Public Works Raimundo do Rosario told reporters

10 Jan, 2019

Macau’s GNI rises 10.3 pct in 2017

Macau's gross national income (GNI) rose by 10.3 percent year-on-year in real terms in 2017, while per-capita GNI went up by 9.7 percent year-on-year in real terms

28 Dec, 2018

Taipa-Barra LRT section to cost 4.5 billion patacas

Secretary for Transport and Public Works Raimundo do Rosario said Monday that the project to construct the Light Rail Transit (LRT) section connecting Taipa and Barra on the peninsula – via Sai Van Bridge – is budgeted at 4.5 billion patacas (US$ 562 million).

18 Dec, 2018

Government invites bids for 4th bridge between Macau and Taipa

The government’s Infrastructure Development Office (GDI) published in the Official Gazette (BO) Wednesday an invitation to tender (ITT) for the design and construction of the fourth bridge between the peninsula and Taipa.

6 Dec, 2018

Mobile phone imports leap 179 pct last month

Macau’s mobile phone imports jumped 179 percent to 1.18 billion patacas last month, the Statistics and Census Bureau announced Thursday.

30 Nov, 2018

Govt mulls new residency scheme for ‘talents’ and S&T professionals: Leong

Secretary for Economy and Finance Lionel Leong Vai Tac said in the legislature’s hemicycle Tuesday that the government is studying the possibility of launching a new pilot scheme for the granting of residency to “talents” and science and technology (S&T) professionals from outside Macau, according to which such applicants would not need to secure a job from a local employer first before being approved to move to Macau.

28 Nov, 2018

Macau lawmakers pass record budget bill

Secretary for Economy and Finance Leong Vai Tac said Wednesday that the government expects its total expenditure to increase by 2.2 percent next year, amounting to 103.34 billion patacas ( US$ 12.9 billion) – another spending record.

22 Nov, 2018

Credit cards issued by local banks reach 1.28 million

The total number of personal credit cards issued by banks in Macau increased by 10.3 percent year-on-year at the end of September, Macau Monetary Authority (AACM) said in a statement on Wednesday.

8 Nov, 2018

Chui briefs Xi on Macau’s progress

Chief Executive Fernando Chui Sai On Monday briefed President Xi Jinping on Macau’s progress while the latter and other dignitaries toured one of the Macau exhibition areas at the 1st China International Import Expo (CIIE) in Shanghai

6 Nov, 2018

IPIM gets acting chief

Secretary for Economy and Finance Lionel Leong Vai Tac has appointed Irene Lau Kuan Va, an executive director of the Macau Trade and Investment Promotion Institute (IPIM), as the institute’s acting president.

30 Oct, 2018

IPIM president under criminal investigation: official 

Macau Trade and Investment  Promotion Institute (IPIM) president Jackson Cheong is under criminal investigation and has been suspended from office, the Commission Against Corruption (CCAC) said in a statement today. 

26 Oct, 2018

Delta bridge operation has ‘smooth’ start: transport chief

The Pearl River Delta’s mammoth bridge inaugurated by President Xi Jinping on Tuesday had a “smooth” start Wednesday, Macau’s transport chief said.

25 Oct, 2018

China´s President Xi Jinping announced the opening of the Hong Kong-Zhuhai-Macau Bridge

President Xi Jinping announced today the opening of the Hong Kong-Zhuhai-Macau Bridge at an opening ceremony in the city of Zhuhai, Guangdong Province.

23 Oct, 2018

International conferences growing in Macau says Leong Vai Tac

The Secretary for Economy and Finance of Macau Leong Vai Tac said Thursday in his opening speech during the Macao International Trade and Investment Fair (MIF 2018) that Macau has made considerable progress in its efforts to integrate itself into the national development.

19 Oct, 2018