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Macau Government income drops 32.3 percent in January-August

Macau Government income drops 32.3 percent in January-August

The Macau government’s receipts dropped 32.3 percent year-on-year to 72.7 billion patacas in the first eight months of the year, the Finance Services Bureau (DSF) announced on Monday. The government’s income from direct gaming taxes fell 35.5 percent to 58.58 billion patacas. Gaming tax payments accounted for 80.6 percent of the government’s total revenue between […]
Macau Real Estate mortgage loans decrease

Macau Real Estate mortgage loans decrease

The new real estate mortgage loans (RMLs) approved by Macau banks decreased 23.9 percent year-on-year in July, according to figures released by the Monetary Authority of Macau. New RMLs increased 6.6 percent month-on-month, reaching MOP4.2 billion in value, and 96.6 percent of them were granted to residents. In terms of value, new RMLs to residents […]
Macau customs nab duo smuggling bogus goods

Macau customs nab duo smuggling bogus goods

Macau Customs Service officers have busted a 53-year-old logistics company owner, surnamed Lai, and a 56-year-old driver, surnamed Kou, on suspicion of smuggling bogus goods into the city from the mainland before sending them on to a third destination. Both male suspects are local residents, according to the Customs Service. Customs Service spokesperson Ian Chan […]
TCM Park expects its 3 service buildings to open in 2017

TCM Park expects its 3 service buildings to open in 2017

The locally incorporated Guangdong-Macau Traditional Chinese Medicine Technology Industrial Park Development Company, which is tasked with developing the Traditional Chinese Medicine Science and Technology Industrial Park on Hengqin Island, said in a statement on Tuesday that the park’s three service buildings would be ready in the first half of 2017. The company funded by the […]
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, […]
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