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Macau casino revenue plunge triggers austerity measures

Macau casino revenue plunge triggers austerity measures

Responding to Tuesday’s 15th straight monthly plunge in casino revenue, the government announced – as widely expected – austerity measures to control public expenditure. The move came after the city’s gross gaming revenue in the first eight months of this year fell below the government’s previously announced “red line” of a monthly average of 20 […]
Macau casino revenue plunge triggers austerity measures

Macau casino revenue plunge triggers austerity measures

Responding to Tuesday’s 15th straight monthly plunge in casino revenue, the government announced – as widely expected – austerity measures to control public expenditure. The move came after the city’s gross gaming revenue in the first eight months of this year fell below the government’s previously announced “red line” of a monthly average of 20 […]
Chief Executive of Macau urges residents to care about heritage sites

Chief Executive of Macau urges residents to care about heritage sites

Fernando Chui Sai On acknowledged on Tuesday that the government is facing the dilemma of promoting the city’s development and protecting its heritage sites at the same time, but pledged that if “most residents” agreed to protect any building or sites which they thought were worthy of preservation the government would do its best to […]
Chief Executive of Macau urges residents to care about heritage sites

Chief Executive of Macau urges residents to care about heritage sites

Fernando Chui Sai On acknowledged on Tuesday that the government is facing the dilemma of promoting the city’s development and protecting its heritage sites at the same time, but pledged that if “most residents” agreed to protect any building or sites which they thought were worthy of preservation the government would do its best to […]
Macau’s GDP shrinks 26.4 percent in Q2 – lowest since 2011

Macau’s GDP shrinks 26.4 percent in Q2 – lowest since 2011

Macau’s gross domestic product (GDP) dipped to its lowest since 2011 as high-stakes gamblers avoided the world’s largest casino market amid the mainland’s widening crackdown on graft and an economic slowdown. GDP tumbled 26.4 percent year-on-year in real terms in the second quarter, the Statistics and Census Bureau (DSEC) said in a statement. The drop […]
Macau’s trade balance with US$5.432 billion deficit from January thru July

Macau’s trade balance with US$5.432 billion deficit from January thru July

Macau’s trade balance posted a 43.463 billion patacas (US$5.432 billion) deficit in the period from January through July, down 2.89 percent over the 44.760 billion recorded in the same period of 2014, indicates the Statistics and Census Service. During the first seven months of the year Macau exported products worth 6.397 billion patacas, up 10.6 […]
Macau government to invest up to 20 billion patacas in Guangdong and Fujian

Macau government to invest up to 20 billion patacas in Guangdong and Fujian

Macau government is still discussing with its Guangdong and Fujian counterparts plans to invest 10 billion to 20 billion patacas of the city’s financial reserves in the two provinces’ infrastructure projects, Chan Sau San, a member of the board of directors of the Macau Monetary Authority (AMCM) said on Sunday, adding that the government would […]
BNU plans to open Hengqin branch

BNU plans to open Hengqin branch

Local lender Banco Nacional Ultramarino (BNU) is applying to the mainland authorities to set up a branch on Hengqin Island, the Portuguese bank’s executive director Ronald Kan Cheok Kuan said on Thursday, adding that BNU was also in discussion with the University of Macau (UM) about opening a branch on its new campus on the […]
Macau government mulls creating jobs for elderly

Macau government mulls creating jobs for elderly

Social Welfare Bureau (IAS) Director Iong Kong Io said on Wednesday that his bureau was working with relevant government entities to look for ways to provide jobs for senior citizens in the future. Iong was responding to a caller during a phone-in programme at Ou Mun Tin Toi, the Chinese-language radio channel of government broadcaster […]
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