20.7 C
Macau
Tuesday, March 28, 2017

Growing pains

The local population stood at 650,900 as at August. Nearly 80 pct comprise adults aged 15-64. With 10.5 pct more households since 2011. Non-resident workers soared nearly 70 pct since 2011. With less than half the total population born in Macau.

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.
The Secretary also stressed the MSAR government would protect the employment of local workers
For the whole year of 2016, the economy shrank 2.1 per cent year-on-year in real terms
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.

Unequal funding

On average, female workers make less than their male colleagues
The Fund, visiting the MSAR for 12 days, agrees with the MSAR Government’s direction in diversifying the local economy
Total scheme members amounted to 138,691 at the end of the quarter

MSAR audit

Asia/Pacific Group audited five other regions last year

For A Few Dollars More

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.

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.
Bermuda, the Cayman Islands and the Netherlands are the top three corporate tax havens, according to the latest research published by Oxfam International. The Head of the Hong Kong, Macau and Taiwan Programme for Oxfam, Kalina Tsang, voiced her...

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.
The MSAR’s money supply continued growing in November while total bank deposits reached MOP930.8 billion

Going to East Timor

As the economy of Portuguese-speaking countries in Africa declines, Macau and Mainland China businessman look for business opportunities in East Timor
Most Portuguese-speaking countries in Africa are expected to register yearly increase in GDP higher than the continent’s average
The advisor for the Office of the Secretary for Economy and Finance has been named Deputy Secretary-general, again
The total value of capital registered by new companies plunged by 67 per cent year-on-year in the third quarter of 2016, while the number of newly incorporated companies also declined.
The firm is planning a soft opening of its Hengqin branch next month

Steady economic growth

University of Macau expects GDP will increase at a rate of 3.2 pct this year
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