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Macau property prices to pick up in Q2 after quiet Q1

Macau property prices to pick up in Q2 after quiet Q1

Property transactions were slow in the first two months of the year and as speculators are leaving the market they are dropping their asking price by over 20 percent, which has attracted buyers to pick up bargain properties, Centaline (Macau) Property Agency Senior Regional Sales Director Noel Cheung Lai Wah said Wednesday. Cheung also said […]
Macau handbag imports fall 26 percent in Jan-Feb

Macau handbag imports fall 26 percent in Jan-Feb

Macau’s imports of handbags and wallets, which are particularly popular with visitors from the mainland, dropped 26.5 percent year-on-year to 526 million patacas in the first two months of the year, the Statistics and Census Bureau (DSEC) has announced. Gold jewellery imports decreased 30.9 percent to 1.4 billion patacas in January and February. Watch imports […]
Macau Reserves to be transferred to China Development Fund

Macau Reserves to be transferred to China Development Fund

A portion of the MSAR’s financial reserves could be transferred to mainland China for investment purposes. The government intends to introduce the measure in order to boost bilateral cooperation. It also expects the return of the investment to potentially reach 4 percent, which would be higher than the 2 percent recorded last year but still […]
Leong confident about liberalisation of trade in Macau services

Leong confident about liberalisation of trade in Macau services

Secretary for Economy and Finance Lionel Leong Vai Tac said on Wednesday the government aimed to meet its target for the basic liberalisation of trade in services with Guangdong by the end of this year. The policy secretary made the pledge in a speech at a one-day seminar on the implementation of the Closer Economic […]
Macau Inflation rises 5.3 percent in February

Macau Inflation rises 5.3 percent in February

Macau’s composite consumer price index (CPI) rose 5.3 percent year-on-year last month, the Statistics and Census Bureau (DSEC) announced on Monday. A DSEC statement attributed the steep rise to rising residential rents and the higher cost of eating out, as well as higher charges for package tours during the Chinese New Year holiday. According to […]
Banker says Macau is a ‘natural free trade zone’

Banker says Macau is a ‘natural free trade zone’

Macau Association of Banks (ABM) Chairman Ip Sio Kai suggested on Sunday that the government should focus on turning Macau into an international financial centre. Ip made the proposal during a forum hosted by the Collective Wisdom Policy Centre at the Bank of China Building in Avenida Dr. Mario Soares. The forum gathered participants from […]
Macau Fund proposes raising pensions, subsidies in July

Macau Fund proposes raising pensions, subsidies in July

Social Security Fund (FSS) President Ip Peng Kin announced on Monday that the fund is proposing an increase in various pensions and subsidies effective in July. According to Ip, the fund proposed on Monday that the old-age pension and disability pension be raised by 5.35 percent, from 3,180 to 3,350 patacas per month, while the […]
Macau government to introduce minimum wage by 2018

Macau government to introduce minimum wage by 2018

The government intends to introduce a universal minimum wage for all workers, following its initial introduction for cleaning and security personnel working in property management companies. “We intend to implement the minimum wage for those two sectors this year. But our stand on this is implementing a minimum wage for all workers within three years,” […]
Macau’s GDP shrinks 0.4 percent in 2014 – down 17 percent in Q4

Macau’s GDP shrinks 0.4 percent in 2014 – down 17 percent in Q4

Macau’s gross domestic product (GDP) fell 0.4 percent in real terms last year, the first annual drop since the establishment of the Macau Special Administrative Region (MSAR) in 1999, according to figures released by the Statistics and Census Bureau (DSEC) on Friday. In the fourth quarter of last year, GDP was down 17.2 percent year-on-year […]
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