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Macau to cut spending if casino revenue dips under 18 billion patacas a month

Macau to cut spending if casino revenue dips under 18 billion patacas a month

Secretary for Economy and Finance Lionel Leong Vai Tac said Tuesday the government would have to cut its expenditure if the city’s average gross gaming revenue drops to 18 billion patacas a month. The policy secretary made the remark after attending an annual seminar hosted by the Macau Chamber of Commerce (ACM) in Nape. Leong […]
Macau visitors drop 3.6 percent in Q1, down 13 percent in March

Macau visitors drop 3.6 percent in Q1, down 13 percent in March

Macau recorded 7.4 million visitor arrivals in the first quarter, down 3.6 percent year-on-year, the Statistics and Census Bureau (DSEC) announced on Monday. Same day visitors accounted for 56.6 percent of the total number of visitor arrivals in the first three months. Mainlanders and Hongkongers accounted for 67.8 percent and 20.3 percent of all visitors […]
Prices in Macau increase 5.10 percent in March

Prices in Macau increase 5.10 percent in March

Prices in Macau rose 5.10 percent in March year-on-year driven by the increase in income from house rental prices and the cost of meals bought away from home, reported the Statistics and Census Bureau. Year-on-year the most significant increases were in the indices of Housing and Fuel (+10.58 percent), Health (+5.71 percent) and Food and […]
Practical results achieved in boosting Fujian-Macau co-operation

Practical results achieved in boosting Fujian-Macau co-operation

The Secretary for Economy and Finance, Leong Vai Tac, said Tuesday the visit to Fujian had achieved practical results in facilitating enterprises in the two places and in cross-boundary investments, further leveraging Macau’s advantages in the Portuguese-speaking countries. Speaking to reporters at the end of his two-day visit, Leong said aspects of co-operation explored included […]
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 […]
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