Economy

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

Hong Kong-Zhuhai-Macao (HKZM) Bridge boundary almost complete

The Macau government is putting all its efforts into completing the Macau boundary crossing area of the Hong Kong-Zhuhai-Macao (HKZM) Bridge before the end of the year, according to an official statement.

21 Dec, 2017

Two new CEPA agreements inked

Two new agreements – under the framework of the Mainland and Macau Closer Economic Partnership Arrangement (CEPA) – were signed Monday with the aim of advancing integration of Macau’s development with that of the country as a whole, the Secretariat for Economy and Finance (GSEF) said in a statement.

19 Dec, 2017

Lawmakers pass a MOP 109.61 billion patacas record budget bill for 2018

The Legislative Assembly (AL) Wednesday passed the government’s 2018 budget bill, according to which the government expects a total expenditure of 109.61 billion patacas (US$13.7 billion)next year, a year-on-year increase of 14.5 percent, or 13.89 billion patacas.

14 Dec, 2017

Macau gets new free public wireless service

Cooperating with different Internet service providers, the Macau Post and Telecommunications Bureau (CTT) launched its free Wi-Fi hotspot — FreeWiFLMO - at the Communications Museum in Estrada D. Maria II Wednesday.

14 Dec, 2017

Chui vows to remove Macau from EU ‘tax haven’ list

The Macau government will thoroughly study the European Union’s official documentation on its recent decision to include Macau on its controversial list of 17 “non-cooperative tax jurisdictions”, Chief Executive Fernando Chui Sai On said Tuesday, stressing the aim was to convince Brussels to remove Macau from the list.

13 Dec, 2017

Govt rejects Macau’s ‘biased’ tax haven label by EU

The Macau government Tuesday rejected the European Union’s “unilateral and biased” decision to include Macau in a blacklist of 17 tax havens.

6 Dec, 2017

Central government ask for adjustments in the airport expansion

Macau Civil Aviation Authority (AACM) President Simon Chan Weng Hong said Monday that adjustments were needed for the local airport expansion project after central government officials reviewed it.

5 Dec, 2017

Taipa LRT to be completed on time and within budget

Secretary for Transport and Public Works Raimundo do Rosário said he was confident that the Taipa section of the Light Rail Transit (LRT) project will not run further over budget - i.e. the total cost of the project will not exceed 11 billion patacas (US$1.375 billion).

30 Nov, 2017

Macau’s trade deficit totals US$6.391 billion between January and October

The Macau balance of trade posted a year-on-year increase of 1.512 billion patacas between January and October to 51.131 billion patacas (US$6.391 billion), the region’s Statistics and Census Bureau said.

29 Nov, 2017

Macau GDP Q3 growth slows to 6.1 pct

Macau’s gross domestic product (GDP) grew by 6.1 percent year on year in real terms in the third quarter, a marked slowdown compared to economic growth of 11.3 percent in the first quarter and 10.8 percent in the second quarter, the Statistics and Census Bureau (DSEC) said Thursday.

24 Nov, 2017

macau government spending in 2018

Macau government spending to surpass MOP100 billion for the first time

According to the bill, the government expects total receipts of MOP119.17 billion next year, MOP16.23 billion more than this year’s budget, up 15.8 percent. Government expenditure next year is budgeted at MOP109.61 billion.

21 Nov, 2017