Macau economy expected to grow at an average of 4.9% in 2018/2019

Macau’s economy is expected to expand at an average of 4.9% per year in 2018/2019, supported by the upswing in the gaming industry, according to the Economist Intelligence Unit (EIU) in its latest report on the territory, where it also said that the government’s efforts to diversify the economy should have very limited success.

27 Mar, 2018

Jockey Club must pay govt 153-million-pataca debt or lose concession: Leong 

Secretary for Economy and Finance Lionel Leong Vai Tac said Wednesday  that the Macau Jockey Club (MJC) will need to pay 153 million patacas in unpaid fees that it owes the government within three years or face having its concession withdrawn.

22 Mar, 2018

China enhances co-operation with Portuguese-speaking countries

China has strengthened its economic and trade co-operation with Portuguese-Speaking Countries (PSCs) in the past 15 years, and has been dedicated to enhancing its co-operation with those countries in more sectors, senior officials attending a symposium said in Macau Wednesday.

22 Mar, 2018

Delta bridge paves foundation for B&R Initiative: chief engineer

The chief engineer of the Hong Kong-Zhuhai-Macau Bridge, Su Quanke, said Thursday in Beijing that the completion of the mega-bridge project paves the foundation for the development of the country’s Belt and Road Initiative (BRI).

16 Mar, 2018

Central govt hands over local part of delta bridge to Macau    

The State Council has authorised the official transfer of the Macau Border Checkpoint Administrative Zone of the Hong Kong-Zhuhai-Macau Bridge to the Macau government .

15 Mar, 2018

Macau to launch flights to Europe this year

Macau will launch scheduled flights to Europe this year, the Macau International Airport Company (CAM) said.

9 Mar, 2018

Residential property price index rises 3.3 pct

Macau’s overall residential property price index for November 2017-January 2018 grew 3.3 percent over the previous survey period (October-December 2017).

9 Mar, 2018

Macao Water to built another elevated water tank in Taipa

Macao Water Executive Director Nacky Kuan Sio Peng said Wednesday that Big Taipa Hill or Small Taipa Hill were possible sites where the company plans to build one more elevated treated water tank

8 Mar, 2018

China to unveil plan for Guangdong-Hong Kong-Macao coordinated development

China will unveil and implement the development plan for the Guangdong-Hong Kong-Macao Greater Bay Area, among other moves to promote coordinated regional development of the country this year, Premier Li Keqiang said Monday.

6 Mar, 2018

Court ruling won’t delay LRT project: Chui

Chief Executive Fernando Chui Sai On Chui Sai On said Sunday his government was confident that the Taipa section of the Light Rail Transit (LRT) will come into operation next year as scheduled.

5 Mar, 2018

GDP grows 9.1 pct last year

Macau’s gross domestic product (GDP) grew 9.1 percent in real terms year on year in 2017, after three consecutive years of negative growth, the Statistics and Census Bureau (DSEC) announced Wednesda

1 Mar, 2018

Retail sales top 66 billion patacas in 2017

Macau’s total value of retail sales rose 12.6 percent year on year to 66.26 billion patacas last year, the Statistics and Census Bureau (DSEC) said in a statement Tuesday.

28 Feb, 2018

New ‘Water Market’ to open next week

Civic and Municipal Affairs Bureau (IACM) President Jose Fonseca Tavares said Monday that the new Patane Market Municipal Complex will come into service next Tuesday.

27 Feb, 2018

MTel urges govt to release 5G licence detail

MTel Chairman and CEO Michael Choi Tak Meng said Monday that the government should release details on the city’s future 5G licences so that the local sector can prepare itself for the upgrade as other jurisdiction will launch the service this year.

27 Feb, 2018

Visitors’ non-gaming spending reaches almost US$ 7.7 billion in 2017

Visitors’ total non-gaming spending reached 61.32 billion patacas (US$7.66 billion) in 2017, a year-on-year increase of 16.4 percent, the Statistics and Census Bureau (DSEC) has announced.

26 Feb, 2018

Govt raises Hato loss to 12.5 billion patacas

The government has revised up its estimate of financial losses caused by Super Typhoon Hato in August last year, from the initial estimate of 11.47 billion patacas to 12.55 billion patacas (US$ 1.5 billion), according to a statement by the Statistics and Census Bureau (DSEC) Thursday.

23 Feb, 2018

Delta bridge Macau car park to have 3,000 spaces for HK cars

The East Car Park at the border checkpoint of the Hong Kong-Zhuhai-Macau (HKZM) Bridge will have a capacity of 3,000 spaces for Macau-bound drivers of Hong Kong-registered cars.

22 Feb, 2018

Hong Kong-Zhuhai-Macau bridge vehicle quotas

Macau to hold 600 vehicles quotas for Hong Kong-Zhuhai-Macau bridge

Macau will hold 600 quotas for vehicles; 500 of the quotas will have a validity of 1 year and the remaining 100 quotas will have a validity of six months.

14 Feb, 2018

Macau Panorama

Fitch upgrades Macau’s long-term credit rating to AA

Fitch Ratings has upgraded Macau’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to AA from AA-, pointing out that “the outlook is stable”.  

14 Feb, 2018

Lawmakers pass stamp duty bill

The legislature Wednesday passed a government-initiated bill according to which an additional stamp duty will be levied on all those who buy residential units in addition to their first one.

8 Feb, 2018