Business

Retail sales fall 61% in Q2

The value of Macao’s retail sales fell 61.3% year-on-year in the second quarter to 6.92 billion amid the COVID-19 pandemic.

25 Aug, 2020

Investor creates local coffee brand using East Timor coffee beans

Charles Chi, president of Charlestrong Café Company Limited, said in a speech on Monday that his company aimed to create a local coffee brand, “Café Diliy”, using East Timor organic coffee beans, adding he hoped that the coffee brand would become a “unique Macao souvenir”.

25 Aug, 2020

Hong Kong-Macao tax arrangement in force

Hong Kong announced that the Comprehensive Avoidance of Double Taxation Arrangement (CDTA) with Macao has entered into force

21 Aug, 2020

Joint Hengqin checkpoint cuts clearance time to about 30 secs

The new Macao-mainland joint Hengqin checkpoint that opened Tuesday cuts clearance time to about 30 seconds.

18 Aug, 2020

Future Bright’s Macao turnover drops 82% in Q2 

Future Bright Holdings' turnover in Macau dropped 82.1% year-on-year to HK$32.4 million in the second quarter of this year.

16 Aug, 2020

DSE runs programme to prepare SMEs for post-COVID-19 reopening

The Economic Services Bureau (DSE) reminded the public in a statement on Sunday that its “special feature shops programme” was launched last month to promote 41 small and medium-sized enterprises (SMEs) and prepare them for the post-COVID-19 reopening of the city.

10 Aug, 2020

Newly registered firms drop 25.6% in H1

A total of 2,438 new companies were registered in Macao in the first half of this year, down by 25.6% year-on-year, the Statistics and Census Bureau (DSEC).

6 Aug, 2020

China’s Greater Bay Area stymied by lack of coordination and research facilities, review finds

A review of the Greater Bay Area in southern China has identified shortcomings that have slowed progress on Beijing’s plan for the region to become a hi-tech hub, including not enough research facilities and poor coordination and flow of talent and capital between the cities.

5 Aug, 2020

Gaming receipts fall 94.5% in July

Macau's gross gaming revenue fell 94.5% year-on-year to MOP 1.344 billion (US$168 million) in July.

1 Aug, 2020

Commercial property rents in Central Macao retreat to 2010 levels

The number of residential and commercial property sales plunged in the first half of the year amid the ongoing coronavirus-induced economic recession. According to real estate experts, the situation today is similar to 2014, when the property market was reeling from a sharp contraction in gross gaming revenue.

23 Jul, 2020

Urban Kitchen reopens with new buffet concept amid COVID-19

Galaxy Macau’s JW Marriott Hotel has reopened its Urban Kitchen restaurant with a new buffet-dining concept and limited-time discount.

10 Jul, 2020

IFTM student project helps LESS IS MORE startup

The public Macau Institute for Tourism Studies (IFTM) said in a statement that it continues its effort to support small businesses during the COVID-19 pandemic through student projects.

10 Jul, 2020

UM, NKOIL ink deal on collaboration in smart city development

The public University of Macau (UM) and state-owned Nam Kwong Petroleum & Chemicals Co. Ltd. (NKOIL) have signed a strategic cooperation framework agreement.

6 Jul, 2020

Imports fall 39% in May, exports drop 24%

Macao's merchandise imports fell by 39.1 percent year-on-year in May, while exports dropped by 24.2 percent .

30 Jun, 2020

Joint Announcement of People’s Bank of China

Joint Announcement of People’s Bank of China, Hong Kong Monetary Authority, and Monetary Authority of Macao on Launch of Cross-boundary Wealth Management Connect Pilot Scheme in Guangdong-Hong Kong-Macao Greater Bay Area

30 Jun, 2020

Poon says CTM ready to launch 5G

Local telecom operator CTM CEO Vandy Poon Fuk Hei said on Monday that his company was ready to launch its 5G service as soon as the government issues the operating licence.

30 Jun, 2020

Forum Macao can help Portuguese speaking-countries attract more Chinese investment

The deputy secretary-general of the Forum Macao, Rodrigo Brum said that Portuguese-speaking countries ⁠– namely Portugal ⁠– should take more advantage of this organisation to attract Chinese foreign investment, namely in greenfield investments.

29 Jun, 2020

CTM’s 2019 profit rises 7% to MOP 1.01 billion

Macao's top telecom operator CTM reported a net profit of MOP 1.01 billion last year, a 7% year-on-year increase.

25 Jun, 2020

CTM says full 5G outdoor coverage at month-end

The installation of a 5G network for full outdoor coverage will be completed at the end of this month and introduce a string of new technologies.

24 Jun, 2020

Jewellery shop fined MOP 400,000 for illegal currency exchange

The Monetary Authority of Macao (AMCM) announced on Wednesday that it has fined a local jewellery shop MOP 400,000 for illegal currency exchange activities. 

18 Jun, 2020