23 C
Thursday, April 27, 2017

Budget under control

The MSAR Government has managed to generate more surplus than expected as October passes

Helping hand

The amount of subsidies granted to local firms increased remarkably last year, official sources show. Figures from the Macao Economic Services indicate that bank loan interest payments also increased slightly. The economic department approved total subsidies worth MOP397.5 million in 2016.
For the whole year of 2016, the economy shrank 2.1 per cent year-on-year in real terms
The Secretary also stressed the MSAR government would protect the employment of local workers

Unequal funding

On average, female workers make less than their male colleagues

MSAR audit

Asia/Pacific Group audited five other regions last year
The year 2015 marked the MSAR’s achievement of its minimum 9 pct non-gaming revenue goal, five years ahead of schedule. Gaming operators earned MOP23.9 billion in non-gaming revenue for the period, and MOP15.25 billion in direct non-gaming revenue during the period. Hotel services led the way, contributing 41.2 pct, followed by F&B at 23.4 pct and Retail at 22.4 pct.
Total scheme members amounted to 138,691 at the end of the quarter
The Fund, visiting the MSAR for 12 days, agrees with the MSAR Government’s direction in diversifying the local economy
The MSAR’s money supply continued growing in November while total bank deposits reached MOP930.8 billion

Inflation slowdown

The city’s inflation rate hit its lowest level since February 2010, slowing to 1.33 per cent y-o-y in October. Higher charges for eating out, rents on parking spaces and increases in property management fees and vehicle prices drove the month’s figures, joined by increases in education, transport and alcohol and tobacco.

Silver Lining

It is the talk of the town: what will happen when Mr. Trump becomes the president? Business Daily found that his hard-line monetary policy to stabilize the yuan could benefit the economy of the MSAR from an increase in Mainland Chinese tourism.
Global Finance publication salutes Macau. Factoring in various metrics to rank the MSAR third richest territory in the world. Thanks to the bounce-back in gaming revenues. Just after Qatar and Luxembourg. GDP and purchasing power were the primary considerations.
Most Portuguese-speaking countries in Africa are expected to register yearly increase in GDP higher than the continent’s average
Bermuda, the Cayman Islands and the Neth...
The MSAR is set to be affected by, and c...
A cash declaration bill passed its first reading in the legislature yesterday. Protection of personal data. And impact upon the gaming industry. These were the focus of legislators. While Customs Director Alex Vong claimed the new scheme would not impact legal cash flows. The bill proposes a declaration threshold of MOP120,000.
HK Express, the low-cost carrier from th...
The advisor for the Office of the Secretary for Economy and Finance has been named Deputy Secretary-general, again
As the economy of Portuguese-speaking countries in Africa declines, Macau and Mainland China businessman look for business opportunities in East Timor
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