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Laws lag behind need for financial development says Macau Financial Employees Association

Laws lag behind need for financial development says Macau Financial Employees Association

Domingos Savio Chang, who heads the Macau Financial Employees Association, said on Thursday that the city’s outdated laws and rules regulating the financial sector, as well as the insufficient number of qualified professionals, were hindering the development of the sector in Macau. Chang made the comments during a press conference about an upcoming event to provide […]
Macau inflation increased 1.59 per cent

Macau inflation increased 1.59 per cent

Macau’s composite consumer price index (CPI) rose 1.59 per cent on September, a further slowdown from the 1.65 per cent growth in the previous month, the Statistic and Census Bureau said in a statement. The bureau attributed the increment to higher rentals for parking spaces, the higher cost of eating out, as well as increases […]
Imported labour decreases in Macau

Imported labour decreases in Macau

  Macau’s number of non-resident (imported) workers fell by 474 last month compared with the same month of last year, the Labour Affairs Bureau (DSAL) has announced. At the end of last month, the number of non-resident workers stood at 180,277, compared with 182,178 in the previous month and 180,751 a year earlier. Mainlanders accounted […]
Macau Chief Executive to deliver 2017 Policy Address on November 15

Macau Chief Executive to deliver 2017 Policy Address on November 15

Chief Executive, Chui Sai On, will deliver his 2017 Policy Address in the legislature’s hemicycle on November 15, the Legislative Assembly (AL) announced on Tuesday. According to the announcement, Chui will answer lawmakers’ questions about the policy address on November 16. The government’s five policy secretaries will present their respective 2017 portfolio guidelines to the […]
Macau government decides to raise Social Security Fund

Macau government decides to raise Social Security Fund

The Social Security Fund (FSS) announced on Monday that the monthly dues paid by employers and employees will be increased from the current 45 patacas to 90 patacas from the beginning of next year, with the ratio that both sides contribute remaining unchanged at 1:2, despite a lack of consensus on the ratio. Addressing a press […]
Macau Chief Executive says cash handout set to continue

Macau Chief Executive says cash handout set to continue

Chief Executive Fernando Chui Sai On said on Monday the government was not likely to cease its cash handout scheme next year, Macau Federation of Trade Unions (commonly known as Gung Luen) President Chiang Chong Sek told reporters after meeting Chui at Government Headquarters. Pointing out that Macau has a fiscal surplus, Chui told Chiang […]
Macau creates cooperation park with Changzhou in Chinese province of Jiangsu

Macau creates cooperation park with Changzhou in Chinese province of Jiangsu

The Chinese city of Changzhou will house the Jiangsu-Macau cooperation park, according to a memorandum signed on Friday by the Chief Executive of Macau, Chui Sai On and the governor of Jiangsu Province, Shi Taifeng. The Chief Executive said that the Government of Macau will take advantage of the valuable experience of Jiangsu in international […]
Over 50 deals signed at Macau International Fair

Over 50 deals signed at Macau International Fair

Over 50 co-operation agreements were signed during the two-day 21st Macau International Trade and Investment Fair (MIF), the Macau Trade and Investment Promotion Institute (IPIM) announced on Saturday, the event’s last day. The annual fair is hosted by the government-run institute. About 380 business-matching sessions took place during the fair, 110 of which were scheduled through […]
Macau weather chief admits wrong typhoon forecast 

Macau weather chief admits wrong typhoon forecast 

  Meteorological and Geophysical Bureau (SMG) Director Fong Soi Kun admitted on Friday that the wind speed on that day in Macau was weaker than forecast, when the No.8 signal was hoisted for Typhoon Haima. Fong made the comments when speaking to the Chinese-language TV channel and radio channel of government-owned broadcaster TDM on Friday. Macau’s top weather […]
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