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Govt mulls scrapping bearer shares

Govt mulls scrapping bearer shares

The government is planning to abolish bearer shares issued by public limited companies (known as sociedades anónimas, or SA, in Portuguese), so as to be in line with the requirements of the Global Forum on Transparency and Exchange of Information for Tax Purposes, as part of its efforts to crack down on money laundering and […]
Gold jewellery imports drop 29 pct in August

Gold jewellery imports drop 29 pct in August

Macau’s gold jewellery imports fell 29 percent year-on-year to 723 million patacas in August, the Statistics and Census Bureau (DSEC) announced Tuesday. However, the import of watches – another item popular with mainland tourists – rose 30 percent to 720 million patacas. Mobile phone imports dropped 21 percent to 311 million patacas. The import of […]
Customs bust firm selling parallel imports

Customs bust firm selling parallel imports

The Macau Customs Service has busted a trading company which sold parallel imports to 47 branches of three local supermarkets. A customs spokesperson told a press conference yesterday that officers were tipped off a few months ago that the company had arranged for a group of people to bring the goods across the border from […]
Cross-delta bridge to open end of 2016: authority

Cross-delta bridge to open end of 2016: authority

Hong Kong-Zhuhai-Macau Bridge Authority Executive Director Wei Dongqing said Wednesday that construction of the cross-delta bridge was proceeding as scheduled and expected to open to traffic at the end of 2016 as originally planned. Wei also said the authority had set up a working group to study how much to charge at the tolls and […]
Inflation rate his 6.07 pct in August

Inflation rate his 6.07 pct in August

Macau’s composite consumer price index (CPI) rose 6.07 percent year-on-year last month, namely due to higher housing rents and the rising cost of eating out, the Statistics and Census Bureau (DSEC) said on Monday. According to a DSEC statement, last month saw notable increases in the price indices of housing and fuels (+12.0-4 percent), and […]
Casino growth prospects soften

Casino growth prospects soften

The Fitch Ratings agency downgraded its annual growth forecast for Macau’s casino sector from 10% to 4% for this year due to a weakening in the VIP segment according to a statement on its website on Friday. Whilst the agency still expects to see strong growth in the mass market and slot machines, up 15 […]
Budget for Melco Studio City film to hit US$70 mln

Budget for Melco Studio City film to hit US$70 mln

The budget for Melco Crown International’s film to advertise its new Studio City resort complex on Cotai, in Macau,is totals US$70 million, with the three Hollywood actors involved each earning US$13 million, the New York Post reported, citing sources. The short film, which will be launched to coincide with the casino opening, was directed by […]
Gold jewellery imports drop 44 pct in July

Gold jewellery imports drop 44 pct in July

Macau’s gold jewellery imports fell 44 percent year-on-year to 651 million patacas in July, the Statistics and Census Bureau (DSEC) announced Thursday. The import of mobile phones dropped 17 percent to 376 million patacas, while the import of handbags and wallets fell 11 percent to 259 million patacas last month. However, watch imports rose 10 […]
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