Economy

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

Macau International Airport reports net profit of MOP 354 million for 2017

The airport’s total income rose 9.6 percent to MOP 4.95 billion last year. CAM’s total income reached MOP  1.4 billion, up 5.5 percent, according to the statement.

3 Apr, 2018

HK$80 from Hong Kong to Zhuhai on mega bridge – exclusive bus rights go to Pansy Ho’s firm

A transport firm run by the daughter of Macau casino kingpin Stanley Ho Hung-sun looks set to be the biggest winner when the Hong Kong-Zhuhai-Macau bridge opens, after her company won the exclusive rights to run shuttle buses across the multibillion-dollar link, according to the South China Morning Post (SCMP) today.

31 Mar, 2018

CEM profit rise 6.3 pct to 793 million patacas in 2017

Macau’s electricity utility CEM announced Wednesday a net profit of 793 million patacas for last year, a year-on-year increase of 6.3 percent.

29 Mar, 2018

CTM to start testing 5G by year end

CTM CEO Vandy Poon Fuk Hei said Wednesday that his company would start tests on its 5G network by the end of this year, and that it would be able to launch 5G at the same pace as the mainland and Hong Kong.

29 Mar, 2018

Macao Water profit rises 20 pct, investment up 256 pct  

Macau’s water utility SAAM – commercially known as Macao Water – reported Tuesday an after-tax profit of 77.5 million patacas for last year, a year-on-year increase of about 20 percent.

28 Mar, 2018

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