20.7 C
Macau
Tuesday, March 28, 2017
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...
The life insurance sector grew 72 per cent year-on-year during the first half of 2015 to MOP5.65 billion in gross premiums from MOP3.29 billion, according to the data revealed by the Monetary Authority of Macau (AMCM). At the same time,...

Date with destiny

Urging better planning for Hong Kong and Macau for Beijing-Taipei Economic Union By Sonny Lo Shiu Hing Professor and co-director of the Centre for Greater China Studies at the Hong Kong Institute of Education President Xi Jinping remarked during the National People’s...
Macau falls for the fifth consecutive year in The Wall Street Journal ranking for Economic Freedom.

Getting it together

You may not have noticed it yet but the neighbouring Zhuhai Special Economic Zone is now bigger – much bigger. Last month the zone was expanded to include the entire urban area of the Zhuhai municipality. The zone now covers...
Driven by the depreciation of the renmimbi, deposits in this currency declined 8.3 per cent month-on-month
More Mainland tourists are travelling outbound through individual arrangements rather than on travel agency tours, a report says
The inflation rate in February grew by 0.37 per cent, the lowest rate of growth since January 2010
In the first quarter, a total of 460 units were ready for occupation. The majority – 390 units – are from two high-rise residential projects
Local banks received fewer deposits from non-residents in the territory in May.
The first co-operation meeting between the MSAR and Fujian Province was held in the city on Monday, with the two governments signing three co-operation deals. According to a press release, the Secretary for Economy and Finance Lionel Leong Vai Tac...

Parisian pay-off

Rumblings in the ranks. Construction workers twice gathered in front of the Liaison Office over the weekend. The workers, fired by Hsin Chong Engineering (Macau) from the Sands China’s Parisian casino resort project, were protesting about compensation.
Following 13 consecutive months of gaming revenue slump, the policy is seen as the first positive news for the city’s big money-spinner as well as tourism industries
The value of the city’s exports of goods to Mainland China under the Closer Economic Partnership Arrangement (CEPA) posted a decrease of 21.7 per cent month-on-month in October, the latest official data released by the Economic Service Bureau (DSE)...
Amounting to MOP3.8 billion (US$475,000), they also represent a drop of 12.5 per cent year-on-year
The city’s foreign exchange reserves decreased slightly by 1.4 per cent to MOP153.2 billion (US$19.13 billion) as at the end of February, compared to MOP155.3 billion for the first month of the year, according to a preliminary estimate by...
Airport losing business The airport continues to see its number of passengers dropping. In the first four months of this year it handled 12,554 aircraft movements, about the same as a year before. But it handled only 1.26 million passengers,...
The gov’t is convinced. ATA carnet will benefit the development of the MICE industry. Consequently, it’s amending the External Trade Law. In the first 11 months of last year, there were 470 ATA carnet users. Up from just 29 in the November 2010 to July 2011 period
Rooms are cheaper but local hotels still saw lower occupancy rate last month
A report by the Economist Intelligence Unit predicts that Macau GDP could grow 5.3 per cent next year, while the fall in investment will slow down.
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