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Macau University opens four new student-run stores

Macau University opens four new student-run stores

Four new student-run stores have opened on the University of Macau’s (UM) campus. According to a press release, UM launched these shops in order to give students an opportunity to learn how to run a business and to provide more choices and convenience for people on campus. Student founders have said that running a store […]
Macau IFT chief urges co-operation with HK & Zhuhai to boost MICE sector

Macau IFT chief urges co-operation with HK & Zhuhai to boost MICE sector

Institute for Tourism Studies (IFT) President Fanny Vong Chuk Kwan suggested on Monday that instead of competing with Zhuhai and Hong Kong in the MICE sector, Macau should look to co-operate with the two cities to help the business grow in Macau. Vong made the remarks on the sidelines of the 3rd International Conference on […]
Macau lawyers ‘interested in Hengqin partnerships’

Macau lawyers ‘interested in Hengqin partnerships’

Some local lawyers are interested in providing legal services in partnership with their mainland counterparts on Hengqin Island, Macau Lawyers Association (AAM) President Jorge Neto Valente said on Sunday. However, he was quick to add that no one had yet put the idea into practice. Heading an AAM delegation of 19 to Gansu province, Neto […]
Macau economy to contract 16 percent, says Fitch Ratings

Macau economy to contract 16 percent, says Fitch Ratings

Macau secured its AA- rating from the international agency Fitch Ratings, despite its forecast of 16 percent economic contraction in the region this year. According to a press release issued last Friday, the evaluators expressed their belief that the territory was capable of diversifying its economy outside VIP gaming and of withstanding the structural economic […]
Macau’s gambling revenue tumbles 35.5 percent in August

Macau’s gambling revenue tumbles 35.5 percent in August

Macau’s casino malaise deepened in August, with gaming revenue falling a 15th straight month as the recent opening of new gambling resorts failed to rouse a return of mainland Chinese visitors over the popular school holiday season. Gross gaming revenue fell 35.5 percent to 18.6 billion patacas (USD2.3 billion), widening from July’s 34.5 percent drop, […]
Macau’s GDP shrinks 26.4 percent in Q2 – lowest since 2011

Macau’s GDP shrinks 26.4 percent in Q2 – lowest since 2011

Macau’s gross domestic product (GDP) dipped to its lowest since 2011 as high-stakes gamblers avoided the world’s largest casino market amid the mainland’s widening crackdown on graft and an economic slowdown. GDP tumbled 26.4 percent year-on-year in real terms in the second quarter, the Statistics and Census Bureau (DSEC) said in a statement. The drop […]
Macau’s trade balance with US$5.432 billion deficit from January thru July

Macau’s trade balance with US$5.432 billion deficit from January thru July

Macau’s trade balance posted a 43.463 billion patacas (US$5.432 billion) deficit in the period from January through July, down 2.89 percent over the 44.760 billion recorded in the same period of 2014, indicates the Statistics and Census Service. During the first seven months of the year Macau exported products worth 6.397 billion patacas, up 10.6 […]
BNU plans to open Hengqin branch

BNU plans to open Hengqin branch

Local lender Banco Nacional Ultramarino (BNU) is applying to the mainland authorities to set up a branch on Hengqin Island, the Portuguese bank’s executive director Ronald Kan Cheok Kuan said on Thursday, adding that BNU was also in discussion with the University of Macau (UM) about opening a branch on its new campus on the […]
Macau inflation returns to 4.76 percent in July

Macau inflation returns to 4.76 percent in July

The consumer price index last month rose by 4.76 percent year-on-year to 106.13, down from 4.91 percent the preceding month, reported the Statistics and Census Service. The increase was said to be due to higher rentals for dwelling and rising costs of eating out. Compared to July 2014, notable hikes were seen in the price […]
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