Secretary for Economy of Finance Lionel Leong Vai Tac said on Thursday he hoped that through today’s meeting with Guangdong officials the two sides could reach an agreement on the framework for the local government’s plan to invest part of its huge reserves via the Guangdong government. Leong is accompanying Chief Executive Fernando Chui Sai […]
Business
Both temporary and permanent residents of Macau will be receiving government cash handouts starting July 6 and ending September 18, as the Executive Council (ExCo) has given its green light to this year’s cash handout scheme. ExCo’s spokesperson Leong Heng Teng revealed at a press conference on Thursday that the government is committed to sharing […]
The Macau government recorded a fiscal surplus of 25.28 billion patacas in the first five months of this year, down by 54.9 percent year-on-year, according to the latest figures released by the Financial Services Bureau (DSF). Total public revenue in the five months stood at 46.42 billion patacas, down 33.8 percent year-on-year. This noticeable drop […]
The Macau economy is expected to start growing again in 2016, when the technical Economist Intelligence Unit predicts real growth of 5.3 percent, according to the most recent report on Macau. After the GDP of the territory recorded a growth rate of 10.7 percent in 2013 and negative 0.4 percent in 2014, the EIU report […]
The sixth International Infrastructure Investment and Construction Forum kicked off here Thursday in Macau. Over 1,000 representatives from more than 50 countries and regions attended the two-day forum, themed “Regional Economic Integration Spurs New Development of International Infrastructure Cooperation.” Focuses of the forum include opportunities, challenges and innovative cooperation modes in the field of infrastructure […]
Macau’s average residential property price per square metre dropped 21.6 percent to 103,128 patacas in April, the Finance Services Bureau (DSEC) has announced. According to the bureau, the average size of the units amounted to 68 square metres. The average price in Taipa was 139,080 patacas per square metre, up 31.5 percent year-on-year. In Coloane, […]
Macau’s economic output tumbled 24.5 percent in real terms in the first quarter, the Statistics and Census Bureau (DSEC) announced on Thursday, as a widening graft crackdown and slowing economy in the mainland keeps high rollers away from the city’s casinos. The fall in gross domestic product (GDP) from a year earlier was the deepest […]
Sales of watches, clocks and jewellery fell 31 percent to 3.7 billion patacas in the first quarter, the Statistics and Census Bureau (DSEC) announced on Tuesday. Watches, clocks and jewellery accounted for 23 percent of all retail sales –the sector’s biggest segment. Sales of leather goods dropped 28 percent to 1.59 billion patacas. Sales of […]
Macau’s inflation rate eased to 4.51 percent in April, the Statistics and Census Bureau (DSEC) announced on Thursday. According to a DSEC statement, the city’s composite consumer price index (CPI) for April increased 4.51 percent year-on-year, down from the 5.10 percent growth in March. The bureau pointed out that higher residential rents and the rising […]