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Banker predicts possible rate hike in Macau in 2nd half of 2016

Banker predicts possible rate hike in Macau in 2nd half of 2016

Luso International Banking Assistant General Manager Chan Wai Shing said on Tuesday that he believed local lenders’ earliest interest rate hike would possibly happen in the latter half of next year. Chan made the remarks on the sidelines of the launching ceremony for the bank’s three-currency Unionpay credit card at the Macau Tower, involving the […]
Macau’s imported workers rise 9 percent to over 182,000

Macau’s imported workers rise 9 percent to over 182,000

Macau had 182,246 non-resident workers at the end of last month, up 9 percent year-on-year, the government’s Human Resources Office (GRH) announced this week. Some 70.1 percent of the workers were imported from the mainland (116,941), Hong Kong (9,144) and Taiwan (1,636). Other major segments came from a number of foreign countries, namely the Philippines […]
Annual inflation in Macau slows in November to 3.77 percent

Annual inflation in Macau slows in November to 3.77 percent

Prices in Macau registered annual growth of 3.77 percent in November, due to the increase in housing rental and charges for meals bought outside the home, reported the Statistics and Census Bureau. The Bureau also said the annual change in prices in November was significantly lower than that recorded a month earlier, in October, when […]
Macau police seize 9.3 kilos of cocaine worth 25 million patacas

Macau police seize 9.3 kilos of cocaine worth 25 million patacas

The police seized 9.3 kilogrammes of cocaine worth about 25 million patacas and arrested three suspects Sunday, Judiciary Police (PJ) spokesman Vong Chi Hong said. Speaking to reporters after the arrests outside a guesthouse in Praça de Ponte e Horta, Vong, who heads the PJ’s criminal investigation division, said the police recently received a tip-off […]
Xi meets Chui, stressing Macau’s prosperity, stability

Xi meets Chui, stressing Macau’s prosperity, stability

President Xi Jinping said last week the central government continued to attach great importance to Macau’s prosperity and stability, urging the Macau Special Administrative Region (MSAR) to grasp opportunities of development and promote “appropriate diversification” of its economy. According to Xinhua, the president made the remarks while meeting with Chief Executive Fernando Chui Sai On […]
Macau Government to watch local market after US rate hike

Macau Government to watch local market after US rate hike

Secretary for Economy and Finance Lionel Leong Vai Tac said on Thursday that the government would keep a close eye on the local mortgage market and banking sector after the US Fed’s rate hike in Washington, DC, on Wednesday. Leong made the remarks after a closed-door meeting with the legislature’s 3rd Standing Committee about the […]
Macau government expects tax hike to lower vehicle growth rate

Macau government expects tax hike to lower vehicle growth rate

Responding to lawmakers’ doubts on the expected impact of new motor vehicle tax rates on lowering the city’s annual growth rate in motor vehicles, Transport Bureau (DSAT) Director Lam Hin San said he believed that once the new tax rates are in place the annual growth rate will drop by about 1 percentage point from […]
Macau jurisdiction of coastal water starts on Sunday

Macau jurisdiction of coastal water starts on Sunday

Macau’s coastal waters covering an area of 85 square kilometres and part of the Duck Channel will finally under the city’s jurisdiction from Sunday, the 16th anniversary of the Macau Special Administrative Region (MSAR), the State Council in Beijing decided on Wednesday. “The government of the Macau Special Administrative Region expresses its sincere gratitude to […]
Macau Government proposes longer sentences for drug crimes

Macau Government proposes longer sentences for drug crimes

Executive Council spokesman Leong Heng Teng said the government was proposing to increase the minimum sentence for the selling of drugs, and both the minimum and maximum sentence for drug-taking. Leong said the Executive Council had completed discussing a bill proposing a number of changes to the current anti-drug law, based on suggestions from the […]
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