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Breeding MICE

The MSAR’s MICE events saw a surge in participants, up 62 pct y-o-y in the first three months of the year. The total number of events, 366, also rose by 18 pct y-o-y, with 66 pct of events corporate meetings and 22 pct association meetings. Only 7 pct of events were conferences, exhibitions and incentive activities. Of the seven exhibitions held, average duration was three days, with a near 49 pct increase in participants in Q1.

Ready for the increase

Fabrice Collot, General Manager for Banyan Tree Macau

Secretary Rosário: no indication of violation from CCAC report

Legislators pointed out the lengthy procedures for completion of deeds for housing applicants and urged the gov’t to expedite the process

Unemployment rate remains stable

The city’s unemployment rate held stable at 2 per cent during the first four months of the year, according to the most recent information from the Statistics and Census Service (DSEC). Regarding local residents, the unemployment rate dropped by 0.1 percentage point, to 2.7 per cent, while the underemployment rate remained stable when compared to the January – March period, at 0.5 per cent. During the February-April period, there were a total of 389,200 individuals in...

FIA not forward about WTCC in Macau

No confirmation yet on the part of FIA regarding the World Touring Car Championship (WTCC) participation in the 2017 Macau Grand Prix

Repeat gamblers

According to the Social Welfare Bureau around 14,000 people were suffering from gambling addictions in the MSAR in 2016

Melco Resorts Finance’s US$650 million offering to recover bonds

Melco Resorts Finance Limited, formerly known as MCE Finance Limited, announced on the Nasdaq on Friday that it is listing an offering of US$650 million (MOP5.21 billion/HK$5.06 billion) in senior notes. The Nasdaq-listed company, chaired by Lawrence Yau Lung Ho, said the bonds consist of 4.875 per cent of the senior notes of the company due 2025. Melco Resorts Finance noted it aims to use the net proceeds from the offering to partly fund the...

Expanding West

Figuring out the scope of the One Belt, One Road (OBOR) initiative is not hard. It is massive, to say the least. China’s new expansionism is driving west by covering the territorial basis of Central and West Asia, up to the Middle East and Europe, connecting localities from the historical Silk Road. As for the initiative’s maritime chapter, stretching from China to Southeast and South Asia, we still have not heard much about it. But...

Big Data to simplify clearance

Deputy director of General Administration of the Customs Guangdong Branch and Commissioner of Gongbei Customs, Zhao Ming, said on Friday that research into utilising Big Data for the simplification of clearance procedures between Guangdong and Macau is currently being carried out, local broadcaster TDM Radio News reported. The research will include studying the differences in standards for product inspection between the two regions. The Chinese authority also revealed that integration of the national clearance system will...

Fosun International cashing out subsidiaries in Mainland China

In its latest move to cash out of its business, Fosun International Limited, China’s largest privately-owned corporation controlled by Shanghai billionaire Guo Guangchang, announced in a disclosure with the Hong Kong Stock Exchange that it is disposing of several of its indirectly-owned subsidiaries for a total consideration of RMB24.16 billion (US$3.52 billion/MOP28.29 billion). Fosun, which owns a 24-per cent stake in Banco Comercial Português (BCP), which has a branch in Macau, is selling a...

Gaming activists run for legislative election

Cloee Chao, president of the New Macau Gaming Professionals Association, has pledged to run in the upcoming legislative election, submitting her nomination list on Friday, according to TDM Radio news. The gaming activist claims her participation in this year’s Legislative Assembly (AL) election is to strive for a Union Law and for benefits for gaming workers. The group proposed eight individuals to run in this year’s election, with the order of nominees to be determined at...

Business Daily #1305

digital version

Platforms

The weekly bilingual newspaper Plataforma Macau is celebrating its third anniversary. It’s a very interesting newspaper which covers the Lusophony markets and along with its name truly executes, in the media industry, the mandate of the People’s Republic of China (PRC) for its Special Administrative Region – that is, making Macau a platform for the geopolitical interests of the PRC apropos the Portuguese-speaking countries. Since it started operation, we may read in Plataforma Macau articles from...

Watchdogs’ barking falls on deaf ears

During yesterday’s Legislative Assembly session lawmakers queried the Administration’s resolve. Following domestic watchdogs’ reports on corrupt practices in gov’t departments. Identifying some of the most relevant graft cases of late, they complained that the Executive is ignoring recommendations.

Behind the e-curve

Alibaba Group claims not be considering developing an independent brand of its Alipay mobile payment system for the MSAR, while the government says it is in negotiations with the group to extend its co-operation with local financial entities

Confusion about WTCC race during Macau Grand Prix sponsorship presentation

The local Sports Bureau and FIA have different interpretations regarding the appearance of the World Touring Car Championship (WTCC) in Macau

Revised support schemes for small firms officially launched

The MSAR Gov’t has officially launched the second application for the SME Aid Scheme and also increased the maximum amount of guarantee under the SME Credit Guarantee Scheme

CGD France staff representatives consider MSAR a fiscal paradise

Workers from Portuguese bank Caixa Geral de Depósitos (CGD) branch in France questioned the bank’s management if it intends to reduce its operations in the country while maintaining operations in the MSAR

Business as usual

The foreign workforce accounted for nearly 36 per cent of Macau’s population in April 2017, but bureaucracy is still an obstacle in getting the labour needed by SMEs in a timely fashion

BNU donates MOP750,000 to University of Macau

Local bank Banco Nacional Ultramarino (BNU) has made a donation to the University of Macau in the amount of MOP750,000, in a continuation of its charitable offerings to the higher education institute, which to date has amounted to over MOP3 million. Annual donations are given by the bank to the University of Macau based upon retail spending by users of the BNU University of Macau Visa card, an arrangement continued since 2003. The group...
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