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Macau’s gross gaming revenue falls 33 percent

Macau’s gross gaming revenue falls 33 percent

Macau’s gross gaming revenue in September fell 33 percent year-on-year to 17.13 billion patacas (2.2 billion U.S. dollars), according to the latest figures from the industry regulator, the city’s Gaming Inspection and Coordination Bureau. The industry suffered the 16th consecutive monthly income decrease, but the drop narrowed by 2.5 percent from August, the figure indicated. […]
Macau balance of trade deficit totals US$6.2 billion from January to August

Macau balance of trade deficit totals US$6.2 billion from January to August

The Macau balance of trade recorded a deficit of 49.36 billion patacas between January and August, an improvement of 3.2 percent over the deficit recorded in the same period of 2014, of 51 billion patacas, reported the region’s Statistics and Census Bureau. In the first eight months of 2015 Macau exported goods worth 7.291 billion […]
Macau Trade and Investment Promotion Institute to take over MICE support

Macau Trade and Investment Promotion Institute to take over MICE support

Macau Trade and Investment Promotion Institute (IPIM) Acting President Irene Lau Kuan Va said on Tuesday that her institute will be taking over the support for the city’s MICE sector from the Macau Economic Bureau (DSE) in November. Lau said the government hoped to make its support for the MICE sector more efficient through the […]
Centaline sees no further drop in housing prices

Centaline sees no further drop in housing prices

Sales and rental prices for shop units and office and industrial building spaces have continued to drop but housing prices will not go further down with prices returning to the level they were at the start of the year, Centaline (Macau) Property Agency Director Jacky Shek Pou Tak predicted on Tuesday. Shek made the forecast […]
Macau government changes Studio City’s land lease to 4-star hotel

Macau government changes Studio City’s land lease to 4-star hotel

According to the Official Gazette (BO) on Wednesday, Secretary for Transport and Public Works Raimundo do Rosário has given the green light to MelcoCrown Entertainment’s (MCE) request to change the land-use purpose of Studio City in Cotai from its original 5-star to 4-star hotel status. The plot of land, which covers an area of 130,789 […]
Macau Secretary for Economy and Finance meets gaming operators

Macau Secretary for Economy and Finance meets gaming operators

The Secretary for Economy and Finance, Lionel Leong, has exchanged views with gaming operators on how to maintain economic vitality, enhance Macau’s competitiveness, stabilize the job market and strengthen social responsibility in the sector. According to a statement from Mr Leong issued by the Government Information Bureau, the government has always been concerned with the […]
Macau currency to be used in Hengqin

Macau currency to be used in Hengqin

Mainland authorities are striving to draw up a preliminary scheme within the year that would allow local currency to be used in Hengqin before they move to seek approval from the Chinese central bank. This information was revealed by Hengqin New Area Administrative Committee director Niu Jing on the sidelines of a session exploring financial […]
EIU predicts Macau’s real GDP will contract 21% this year

EIU predicts Macau’s real GDP will contract 21% this year

Macau’s real GDP in 2015 will probably contract sharply by 21% as the anti-corruption campaign in China will continue in 2015-16, according to the Economist Intelligence Unit (EIU) latest report. In this report, dated 21st of September, EIU analysts predict spending in Macau’s casinos will probably begin to expand again by the last few months […]
Macau Inflation eases to 4.64 percent

Macau Inflation eases to 4.64 percent

Macau’s composite consumer price index (CPI) rose 4.64 percent year-on-year last month, the Statistic and Census Bureau (DSEC) said in a statement on Monday. According to a DSEC statement, inflation has eased continuously since May, with last month’s rate dropping further by 012 percent-age points from July, when growth stood at 4.76 percent. Last month’s […]
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