Business

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

Macao’s newly approved residential mortgage loans drop by 35.1% in April

The new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) by Macao banks both decreased in April 2020.

12 Jun, 2020

Macau ranks globally 48th among international convention cities

Macau has moved up 23 places to 48th among international convention cities worldwide, according to the “International Meetings Market 2019 Report” recently published by the International Congress and Convention Association (ICCA).

26 May, 2020

Bank staff wages rise 5.2% in March

The average earnings – excluding bonuses – of the banking sector’s full-time employees rose 5.2% year-on-year to 30,460 patacas in March.

26 May, 2020

Retail sales drop 45% in Q1

Macau’s value of retail sales fell 45.1% year-on-year to MOP 11.2 billion in the first quarter.

26 May, 2020

Property sales fall in April and Q1

The number of property units sold last month fell 43.7% year-on-year to 443.

19 May, 2020

CTM to invest MOP 2 billion to optimise 5G network

Telecom operator CTM has completed the construction of the core network for its 5G service, vowing to invest another MOP 2 billion (US$251 million) in the network for five years to continuously optimise the network.

18 May, 2020

Macau International Airport cancels 5,200 flights in May

Macau International Airport has cancelled 5,220 flights and has only 20 daily flights scheduled to operate in May.

15 May, 2020

IPIM to get new president

Lau Wai Meng, one of the two vice-directors of the Economic Services Bureau (DSE), will be the new president of the Macau Trade and Investment Promotion Institute (IPIM), the Portuguese-language radio channel of public broadcaster TDM reported on Thursday.

15 May, 2020

Royal Supermarket apologises for ‘price confusion’

The management of Royal Supermarket Company Limited “sincerely apologised” on Tuesday morning in a statement for what it described as “price confusion” concerning some of its goods.

6 May, 2020

SJM’s EBITDA falls 118% in Q1, ‘severely impacted by COVID-19’

SJM Holdings Limited announced today that its adjusted EBITDA declined year-on-year to a negative HK$200 million in the first quarter, a decrease of 118.6%.

5 May, 2020

CTM to sell iPhone SE from Wednesday

Macau's main telecommunications company CTM said in a statement today that it will sell the second-generation iPhone SE starting Wednesday.

5 May, 2020

Royal Supermarket loses ‘Certified Shop’ status after price hike complaints

The Consumer Council (CC) announced last night that it has withdrawn with immediate effect Royal Supermarket’s “Certified Shop” seal of quality in the wake of scores of complaints by consumers about the company’s sudden and steep price hikes on May 1.

5 May, 2020

Two checkpoints to resume normal operating hours

Two of Macau's main border checkpoints will resume their normal operating hours at 6 a.m. Sunday.

2 May, 2020

Macau power utility makes US$100 million profit in 2019

Macau's Chinese-Portuguese electricity monopoly company CEM made a profit of about MOP 800 million (US$100 million) last year.

2 May, 2020

Imports fall 40.1% in March

Macau's merchandise import fell 40.1% to MOP 4.22 billion in March.

30 Apr, 2020

BNU and ICBC (Macau) jointly promote business between China and the Portuguese-speaking countries

The Banco Nacional Ultramarino (BNU) and the Industrial and Commercial Bank of China (Macau) signed a memorandum of understanding for the joint promotion of business between China and the Portuguese-speaking countries.

30 Apr, 2020

IAM urges wet market vendors to cut fresh pork prices

There were huge price differences of fresh pork throughout the city’s nine wet markets – vendors urged to review whether they ought to cut prices to help the population get through these difficult times in the wake of the COVID-19 pandemic.

28 Apr, 2020

Shoppers turn up at new IKEA store to find it doesn’t let walk-ins

IKEA opened its first store in Macau on Thursday, attracting locals who on turning up at the shop were disappointed to find out that shoppers were only allowed in through an online registration that only provided bookings until May 6, and all places are fully booked.

24 Apr, 2020

IKEA to open on Thursday in Macau

The first local IKEA store will open Thursday in Taipa and the online registration quota for the first week of opening is already full.

21 Apr, 2020