Macau’s economy grew 7 percent in the fourth quarter of last year, followed by a 4 percent rise in the previous homologous period, the Secretary for Economy and Finance, Lionel Leong, announced on Wednesday.
Business
Macau’s composite consumer price index (CPI) in January rose 1.76 percent year on year, up 0.32 percentage points from the 1.44 percent growth in the previous month, the Statistics and Census Bureau (DSEC) announced on Tuesday.
Setting up smoking lounges in casinos is not contrary to the World Health Organisation’s (WHO) suggestion of building a smoke-free environment, Secretary for Social Affairs and Culture Alexis Tam Chon Weng said on Monday.
Representatives of several taxi groups submitted a joint application for an increase in taxi fare to the Transport Bureau (DSAT) on Monday. The cabbies insisted that the increase was needed to keep pace with the sector’s rising running costs.
Ahead of the opening of its The 13 luxury hotel in Coloane slated for later this quarter, Hong Kong-listed property developer The 13 Holdings has announced that American investment firm Evolution Capital Management has acquired a major stake in its business.
Gaming operator MGM China reported a total revenue of HKD14.9 billion for the 2016 financial year. In the year under review, MGM China recorded an EBITDA of HKD4.5 billion, a slight dip from HKD4.7 billion in 2015.
Melco Crown Entertainment Ltd. reported its unaudited financial results for the fourth quarter and for the full year ending December 31, 2016. The results showed that net revenue during the fourth quarter of last year grew about 13 percent year-on-year from USD1,058 million to almost USD1,193.
Macao Water Executive Director Nacky Kuan Sio Peng said on Wednesday that construction of the Seac Pai Van water treatment plant was slated to start in the middle of this year, adding that the facility is planned to be operational in 2019.
The International Monetary Fund (IMF) has revised its forecast on Macau’s 2017 GDP growth rate for this year to 2.8 percent from its previous forecast of 0.2 percent.