Banco Nacional Ultramarino chief executive Pedro Cardoso believes the alarm caused by the stock market slump in the mainland and the devaluation of the renminbi is temporary, Business Daily reports. “Everything happening there, like the foreign exchange fluctuation, the depreciation of the renminbi and also the stock market situation will have an influence on Macau and probably, in this case, it will not be positive,” the newspaper quotes Mr Pedro Cardoso as saying in an interview. “In spite of these short-term events, we’re very confident about the future of China and the Macau SAR.”
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