25.4 C
Macau
Sunday, May 28, 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
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...

MSAR audit

Asia/Pacific Group audited five other regions last year
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.

Unequal funding

On average, female workers make less than their male colleagues
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 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.
Most Portuguese-speaking countries in Africa are expected to register yearly increase in GDP higher than the continent’s average
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.
As the Association of Southeast Asian Nations marks its 50th birthday this year, holding the last day of The World Economic Forum on ASEAN today, ratings agency Fitch sets forward its predictions for the neighbouring superpower’s growth this year...

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 is set to be affected by, and challenged by, worldwide uncertainties, the Macao Chamber of Commerce president, Ma Ian Lai, commented while speaking on TDM Radio programme Macao Forum, as reported by local broadcaster TDM Radio News....
The advisor for the Office of the Secretary for Economy and Finance has been named Deputy Secretary-general, again
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 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...
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