Addressing a Q&A session in the legislature’s hemicycle on Thursday, Secretary for Economy and Finance Lionel Leong Vai Tac said that a more diversified economy would help young local people enjoy better career choices.
Business
Macau’s gross domestic product (GDP) has finally snapped a two-year contraction amid a recovery in casino receipts. GDP grew 4 per cent year-on-year in real terms in the third quarter, the first positive quarterly growth recorded over the past two years, the Statistics and Census Bureau (DSEC) announced yesterday. The bureau attributed the return to […]
Apart from the five-square-kilometre area known as the Hengqin Guangdong-Macau Co-operation Industrial Park, Hengqin Island has enough land for investors from Macau, the director of the Administrative Committee of Hengqin New Area, Niu Jing, said on Tuesday. Niu made the remarks on the sidelines of a seminar at the Zhuhai Holiday Resort Hotel about the […]
Secretary for Economy and Finance Lionel Leong Vai Tac said on Monday the government needed to increase public investment to help boost the local economy amid its current downturn. Leong made the remarks when attending a plenary session to present the government’s 2017 budget bill, which was unanimously passed by the legislature. According to the […]
According to information released by the Statistics and Census Service (DSEC), total visitor spending (excluding gaming expenses) increased by 17.4 per cent year-on-year to MOP14.64 billion in the third quarter of 2016, putting to an end the seven consecutive quarters of year-on-year decline. The third quarter also showed an expansion of more than 25 per […]
Macau’s economy has begun a process of “significant transition”, and the government has used the opportunity to adopt a less volatile economic model and more sustainable funding sources, said the International Monetary Fund (IMF), in a statement in Washington. The IMF mission that was in the territory from 3 to 4 November, which will produce […]
Melco Crown Entertainment said in a statement on Thursday that its operating income for the third quarter was US$108.9 million, up 22 per cent year-on-year. The company’s net revenue between July and September rose 22 per cent year-on-year to US$1.15 billion, according to the statement. The increase in net revenue was primarily attributable to the […]
SJM Holdings’ gaming revenue fell 11.1 per cent year-on-year to HK$9.99 billion in the third quarter, the gaming company said in a statement on Tuesday. In the first nine months, gaming revenue dropped 17.8 per cent year-on-year to HK$30.87 billion. Adjusted Ebitda decreased 8.4 per cent to HK$810 million in the third quarter. In the first three […]
Macau posted an 8.8 per cent growth in gambling revenue in October, the third consecutive monthly rise, according to the Macau Gaming Inspection and Coordination Bureau (DICJ). Gaming revenue was MOP 21.8 billion (US$2.73 billion), government data showed on Tuesday. The growth reversed a 26-month fall of revenues of the 38 Macau casinos. In the first 9 months of […]