Macau and China’s mainland have signed a new agreement under the framework of the Closer Economic Partnership Arrangement (CEPA), further liberalizing trade in services. The new deal, signed in Macau on Saturday, will further expand the total areas of the mainland economy that are fully or partially open to Macau providers of services to 153 […]
Business
Local airport operator CAM repaid 86.39 million patacas to the government this year, as part of its repayment plan involving a 1.647 billion patacas loan from the Treasury, Finance Services Bureau (FSM) Director Iong Kong Leong said on Wednesday. The loan was used by the airport to repay the money it borrowed from a number […]
Chief Executive Fernando Chui Sai On has authorised Secretary for Economy and Finance Lionel Leong Vai Tac to sign an agreement with Macau Yat Yuen Canidrome Co. Ltd. to extent the firm’s greyhound racing concession for one year, until the end of 2016, according to the Official Gazette (BO). The current concession is due to […]
Macau’s inflation rate slowed further to 4.16 percent last month said the Statistics and Census Bureau (DSEC). A DSEC statement attributed the increment to higher residential rents and rising cost of eating out. The consumer price index of alcoholic beverages and tobacco rose by 34.29 percent year-on-year. The price index of education rose by 8.96 […]
The government should extend Macau Yat Yuen Canidrome’s greyhound racing concession for two or three years to give the firm sufficient time to improve its racetrack facilities and add “new features,” said Angela Leong On Kei, the firm’s acting chairwoman. The gaming executive-cum-lawmaker said that the operator had yet to be notified by the government […]
Scholars and gaming industry professionals warned the government against following in Atlantic City’s footsteps, urging it to foster economic diversification. A gaming forum was held by the Macau Polytechnic Institute (IPM) on its campus to discuss what Macau can learn from Las Vegas’s success and Atlantic City’s decline. IPM Gaming Teaching and Research Centre Prof. […]
Portuguese state bank Caixa Geral de Depósitos (CGD) posted a profit of 3.4 million euros in the period from January to September, a decrease of 92 percent over the amount recorded in the same period of 2014, the bank said in a statement. In a statement on accounts in the first nine months of the […]
The government should establish an investment fund to manage Macau’s financial reserves, said Delta Asia Financial Group Chairman Stanley Au Chong. Au made the appeal on the sidelines of a banquet celebrating the 80th anniversary of the founding of Banco Delta Asia, a local bank owned by the group, at Grand Hyatt Macau in Cotai […]
Assistant Public Prosecutor-General Paulo Martins Chan has been confirmed as the new director of the Gaming Inspection and Coordination Bureau (DICJ), the Secretary for Economy and Finance, Lionel Leong, revealed on Friday. The appointment of Paulo Chan to lead the bureau has been endorsed by Chief Executive Chui Sai On and will take effect from […]