22.9 C
Macau
Friday, March 24, 2017
The MSAR Government is currently drafting a preliminary scheme for the salary scale system for civil servants, and hoping to introduce it in the second half of this year. The system was suggested in order to prevent the concentration of...
In the wake of the announcement that the city’s February gross gaming revenue achieved its largest growth in the past two years, the Secretary for Economy and Finance, Lionel Leong remarked that the government is more concerned about the...
HK Express, the low-cost carrier from the neighbouring SAR, in a switch to its marketing campaign coinciding with its third anniversary, saw a 145 per cent boost in sales during the group’s campaign period. The results, as noted by...
The Civic and Municipal Affairs Bureau (IACM) handed out some MOP11.1million (US$1.4 million) of subsidies to private entities during the year of 2016, of which more than half went to the Macau Federation of Trade Unions (FAOM), according to Business...
The government’s revenue from the gaming sector accounted for 80 pct of the total in the month
For the whole year of 2016, the economy shrank 2.1 per cent year-on-year in real terms
The city’s Industrial and Commercial Fund disbursed total subsidies of MOP42.3 million (US$5.3 million) to over a thousand individuals and institutions in the fourth quarter of 2016, according to the latest data released in the Official Gazette. The...
The MSAR’s Tourism Fund disbursed some MOP6.69 million (US$836,300) to dozens of individuals and local associations during the fourth quarter of 2016, some ten times more than the MOP621,000 awarded by the same fund in the third quarter of...
A member of the Stanley Ho family has purportedly invested millions of U.S. dollars in an online healthcare platform - BookDoc - headquartered in Malaysia, local media reported. The investment by the Macau tycoon’s family has been reported as...

Full pockets

Ratings agency Fitch believes the city’s lack of diversification beyond ‘gaming-related tourism and consumption sectors’ makes it ‘vulnerable to policy changes in China and shifts in consumer sentiment’
Chinese Estates Holdings Ltd. expects its annual net profit to decline as much as 23 per cent year-on-year for the year of 2016 although it estimates annual revenue will surge by at least 138 per cent year-on-year at that...
The month’s consumer price increase was primarily driven by the Chinese New Year
The Macau SAR government acknowledges that the regime for acquisition of goods and provision of services intended for public purposes is currently “outdated on several levels,” says former judge, João Valente Torrão. The government plans to conclude a proposal to revise the procedures this year
Hengqin saw its economy surge by 20.1 per cent for the whole of 2016 compared to one year earlier, attracting total foreign direct investment of US$523 million (MOP4.18 billion/RMB3.59 billion), an increase of 23 per cent year-on-year, local Chinese-language...
Director of the Legal Affairs Bureau (DSAJ) Liu Dexue revealed that the Macao Economic Services (DSE) has completed the draft of the bill regarding an exemption of stamp duty for old buildings that need to be renovated. The bill involves...

Forex reserves up a tad

The city’s foreign exchange reserves amounted to MOP156.8 billion (US$19.62 billion) as at the end of last month, up 0.7 per cent from one month ago, the latest official figures released yesterday by the Monetary Authority of Macau reveal....

MSAR audit

Asia/Pacific Group audited five other regions last year
The Macau University of Science and Technology Foundation received a third of the total MOP1.53 billion in funding disbursed by the Macao Foundation in 2016

Look Westward, Macau

Using European Union policies as inspiration. To help the MSAR cope with waste management, tourism re-branding, environmentally friendly measures and energy consumption, recommends a report. True economic diversification will require reworking the licensing system, taxation and human resources to attract new investment, in particular from Europe.
As at the end of 2016 the city saw more credit cards in circulation, higher credit limits granted and more money spent using credit cards
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