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Cash handouts to start on 12 April
Older citizens will be first in line, children last and regular adults in the middle in this year’s MOP 7 billion wealth-sharing scheme.
Stand by for MOP 10,000 handouts and more
Cash benefits are part of a major stimulus package that includes tax relief, consumption vouchers, more vocational training and help for the elderly.
Macao’s GDP falls by 56.3 per cent in 2020
For the whole year of 2020, Macao’s GDP declined by 56.3 per cent in real terms while domestic demand shrank by 10.3 per cent year-on-year.
Macao booted off economic freedom ranking
US think-tank lumps Macao and Hong Kong in with China, prompting allegations of “political bias”.
AMCM releases composite interest rates for the first time
Rates for both the pataca and the Hong Kong dollar fell in 2020, mirroring an overall drop in the funding costs of local banking.
Bumper year for Macao’s financial reserves fails to match budget deficit
Interest of MOP 31 billion is offset by MOP 46 billion outlay to balance the budget shortfall caused by the ravages of Covid-19.
Guangzhou makes multi-billion dollar bid to become global transport hub
Massive investment in road, rail, air and sea links includes faster access to GBA neighbours Hong Kong and Macao.
Macao’s inflation rate drops 1.18 per cent in January
The decline is attributed to lower charges for package tours and telecommunications services, gasoline, fresh pork, clothing and footwear.
Macao’s forex reserves down 2.7 per cent
2.7 per cent fall means reserves are now 11 times the local currency in circulation.
Residential property prices drop slightly
Homes are cheaper, but office space is more expensive, statistics bureau says.
BOC Macau hits profits of MOP 5.6 billion in 2020
Bank of China’s 2020 profits represent a 3 per cent growth year-on-year when compared to 2019.
“The worst is over” – glimmer of hope for Macao’s economy
But city needs to attract foreign investment says Institute of Management President Samuel Tong Kai Chung.
Macao Tourism Office moves to economy portfolio today
The bureau will move from the Secretariat for Social Affairs and Culture to the Secretariat for Economy and Finance.
Finance chief eyes handout for Macao residents
Residents and businesses could be in line for a third round of financial support measures if something “unexpected” happens.
Guangdong to speed up intercity rail development in the Greater Bay Area
Guangdong province, in South China, will accelerate the development of the intercity railway network in the Guangdong-Hong Kong-Macao Greater Bay Area to help boost the local economy.
Macao inflation falls to 0.81% in 2020
Macao’s consumer price inflation rate amounted to 0.81 per cent last year, one of the lowest in recent years.
Macao’s financial reserves reach MOP 620 billion
The financial reserves of the Macao Special Administrative Region (MSAR) stood at MOP 620.1 billion (US$77.7 billion) at the end of November last year.
Integrated payment machine ‘Simple Pay’ to be launched in Q1
The Macao government to launch new integrated payment machine “Simple Pay” in the first quarter of the year.
Macao to host Las Vegas’ Consumer Electronics Show alternative in 2021
Macao is set to host a tech fair next year to match the famed International Consumer Electronics Show (CES) in Las Vegas, the US online newspaper TechCrunch reported this week.
MOP 8.15 billion allocated to cover Macao’s expenditure for the remainder of 2020
The Legislative Assembly passed the government’s third 2020 budget amendment bill.
Macao government and Air China increase Air Macau capital
A knowledgeable source indicated that the value of the capital could be increased to more than MOP 2 billion.
Mainland China financial growth generating opportunities in Macao – Well Link Bank CEO
The growth of the financial sector in Mainland China will create opportunities for the banking sector in Macau as the city develops into a financial platform.
Residential property price index dips 0.5%
Macao’s overall residential property price index for August – October decreased by 0.5% over the previous period (July – September 2020) to 267.6.
Macao expects more tourists between Christmas & CNY
Christmas and the Chinese New Year (CNY) are the peak holiday seasons in Macao, therefore the city can expect more visitors from the mainland during that time, Secretary for Economy and Finance Lei Wai Nong told reporters on Wednesday.
Macao gaming receipts fall 70.5% in November
Macao’s gross gaming revenue (GGR) fell by 70.9% year-on-year to MOP 6.75 billion (US$843 million) in November.