The Atlantic two-island nation of São Tomé and Príncipe has formally joined the Forum for Trade and Economic Cooperation between China and Portuguese-speaking Countries.
Business
Debate over legal amendment which establishes new rules for the financial transparency of Macau based persons and companies which have tax residences abroad has reached a conclusion.
Secretary for Economy and Finance Lionel Leong Vai Tac pledged on Monday that the government will strive to improve the performance of investments that it makes from its financial reserves.
Representatives of Macau’s six gaming operators said on Wednesday they believed the share of income from their non-gaming businesses in their total revenue will continue to rise.
The fiscal reserve of the Macau Special Administrative Region totalled MOP 438.7 billion (US$54.8 billion) at the end of 2016, an amount that represents an increase of 27% compared to 2015, according to the Monetary Authority of Macau (AMCM).
Prices in Macau in February rose by 0.37% year-on-year, “a substantial slowdown compared to the annual growth recorded in January (+1.76%),” due to the decrease observed in the prices of excursions and vegetables, reported Macau’s Statistics and Census Bureau.
The Monetary Authority of Macau (AMCM) increased its overnight discount base rate by o.25% of a percentage point to 1.25%, the AMCM said in a statement issued on Thursday.
The Macau economy is expected to grow at a rate of 5.2 percent in 2017 and an average rate of 5.3 percent in 2018, according to the latest report on Macau from the Economist Intelligence Unit (EIU).The publication adds that the expected economic growth will be based on increased gaming revenues.
The gaming industry’s number of full-time employees dipped by 0.8 percent year on year to 55,794 at the end of last year. The number of dealers (croupiers) dropped by 2.4 percent to 24,039, the Statistics and Census Bureau (DSEC) said in a statement on Tuesday. Gaming industry staff accounted for about 14 percent of the […]