The Monetary Authority of Macao has reduced the local base rate by 25 basis points to 4.50 percent, aligning with a similar move by the Hong Kong Monetary Authority
Business
The Labour Affairs Bureau wants to up the current 34-pataca rate to 35 to 37 patacas per hour, a suggestion drawing ire from the Macao Chamber of Commerce
The city’s property sales dipped by roughly 19 percent month-on-month, while the average price per square metre fell by 6 percent
An appreciating RMB has historically portended well for Macao’s integrated resorts, where more than 70 percent of visitors come from mainland China
The index for pre-sale units rose due to new property launches, but overall Macao’s residential property price index saw a decline from May to July
The value of new commercial loans granted was down by almost 85 percent month-on-month, while residential mortgages decreased by a modest 0.3 percent
While the tourism and leisure sector shows resilience, persistent macroeconomic imbalances and subdued property market activity continue to pose challenges
Prime Minister Anutin Charnvirakul has cited Beijing’s opposition to casinos in the kingdom as one reason he won’t consider resurrecting a recently shelved bill
Some 8,000 Indonesians make up more than four percent of Macao’s non-resident workforce, contributing to the US$16 billion in remittances sent back to Indonesia in 2024