Economy

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

City’s 1st fleet of green taxis launched

The city’s first green fleet of 16 electric taxis, produced by BYD, was launched Tuesday at the outdoor car park of The Macau Roosevelt Hotel in Taipa.

7 Feb, 2018

Extra flights approved for the Chinese New Year

The Macao Civil Aviation Authority (AACM) has approved 80 extra and charter flights for the Chinese New Year period, double the number of authorized flights during the festive season last year.

6 Feb, 2018

Macau paid 3.32 billion patacas for the construction of the bridge to Hong Kon

Macau has already paid until now about 2.6 billion yuan (3.32 billion patacas) for its share of the construction of the Hong Kong-Zhuhai-Macau bridge, according to Macau television news (TDM).

1 Feb, 2018

Gold jewellery imports reach 6.7 billion patacas in 2017

Macau imported gold jewellery worth 6.7 billion patacas last year, up 16.3 percent, the Statistics and Census Bureau (DSEC) announced Wednesday.

1 Feb, 2018

Govt welcomes EU move to strike Macau off black list of tax havens

The local government said Tuesday that it welcomed the decision by the European Union (EU) to remove Macau from an embarrassing blacklist of tax havens earlier in the day.

24 Jan, 2018

Driving-licence deal won’t burden roads: government

Transport Bureau (DSAT) Director Kelvin Lam Hin San said Monday that the proposed mutual driving-licence recognition deal between Macau and the mainland will not increase the burden on the city’s roads.

23 Jan, 2018

2018 Macao Year of Gastronomy launched today

The Deputy Director-General of UNESCO, Getachew Engida said today that the “2018 Macao Year of Gastronomy” will provide an opportunity for Macau to develop regional and international cooperation with partners both within the network and beyond, strengthening its reputation as a gastronomic hub.

17 Jan, 2018

10,425 residential units sold in 2017

A total of 10,452 residential units were sold last year, 339 more than in 2016, the Finance Services Bureau (DSF) announced Monday.

16 Jan, 2018

CTM chief says security, privacy can coexist in cyberspace

CTM CEO Vandy Poon Fuk Hei said Monday that the local telecom operator supports having a cyber security law in the city, pointing out he believes that security and privacy can coexist in cyberspace.

16 Jan, 2018

Macau-Guangdong meeting spells out ‘fresh strategies’

Guangdong-Macau Cooperation Joint Conference held Wednesday in Guangzhou “has spelt out fresh strategies to boost complementary benefits for the two places and to enable a joint contribution to significant national policies,” the Macau government said in a statement.

11 Jan, 2018

Hong Kong -Zhuhai-Macau bridge could open in May or June

The  Hong Kong-Zhuhai-Macao Bridge will open in the second quarter this year, according to  China Daily.

8 Jan, 2018

Work on main section of Hong Kong-Zhuhai-Macao Bridge to end in February

Work on the principal section of the world's longest sea-span, the Hong Kong-Zhuhai-Macao Bridge (HZMB), is expected to be completed in early February, according to the China Daily today.

2 Jan, 2018

Macau gaming revenue grew to US$ 33 billion in 2017

Macau’s casino gaming revenue in 2017 grew by 19.1 percent to MOP265.74 billion (US$33.02 billion), according to the Gaming Inspection and Coordination Bureau ( DICJ).

1 Jan, 2018

November re-exports rise 36 pct

Macau’s re-exports rose 36.4 percent year on year to 841 million patacas last month, the Statistics and Census Bureau (DSEC) announced Thursday.

29 Dec, 2017

Hong Kong-Zhuhai-Macao bridge to open in new year

The Y-shaped Hong Kong-Zhuhai-Macao (HZM) bridge, which will take more than 105 billion yuan (US$16 billion) to build, is expected to start carrying traffic in early 2018 and will cut the land travel time between Hong Kong and Zhuhai from 3 hours to just 30 minutes, according to the newspaper China Daily.

22 Dec, 2017