Macau

Former director returns to Macau Trade and Investment Promotion Institute

13 December 2019

The former director of the Macau Trade and Investment Promotion Institute (IPIM), Glória Batalha Ung, has returned to the institute after the restriction imposed due to a criminal investigation, Rádio Macau reported.

Macau economy expected to post growth of 5.2% in 2019, EIU says

12 December 2019

Macau's economy will contract at a rate of 5.2% in 2019, according to the latest forecasts from the Economist Intelligence Unit (EIU), which refer to 2021 as the year in which the territory will return to positive growth rates.

São Tomé and Príncipe wants to increase cooperation with the People’s Republic of China

11 December 2019

São Tomé and Príncipe wants to increase cooperation with the People's Republic of China in areas such as energy, infrastructure construction, fisheries, health and culture, said the president of the São Tomé parliament, Delfim Neto, on a six-day visit to China.

Taipa line of the Macau light railway starts operating

10 December 2019

The Taipa line of the Macau light railway started operating on 10 December, after being inaugurated by the Chief Executive, Chui Sai On, the railway's management company said.

Macau Polytechnic Institute inaugurates centre for interpreter training

6 December 2019

The Portuguese International Centre for Training in Conference Interpreting, inaugurated on Thursday by the Macau Polytechnic Institute (IPM), aims to strengthen the role of Macau as a services platform for trade and economic cooperation between China and the Portuguese-speaking countries, said the president of the IPM, Im Sio Kei.

Next Macau government to prioritise public administration reform

3 December 2019

The priority task of the 5th Government of the Macau Special Administrative Region (MSAR) will be public administration reform, under a "create first to reform later" strategy, Chief Executive Ho Iat Seng said on Monday.

China State Council appoints senior officials of the 5th Government of Macau

2 December 2019

The State Council of the People's Republic of China has appointed the senior government officials and the attorney general of the Macau Special Administrative Region, under the terms of the Basic Law, under the nomination of the future Chief Executive of the Macau Special Administrative Region, Ho Iat Seng, announced the Information Office.

Macau gaming revenue drops 8.5% in November

2 December 2019

Gross gaming revenue at Macau casinos fell 8.5% year-on-year in November to 22.877 billion patacas (US$2.859 billion), the Gaming Inspection and Coordination Bureau said.

Macau saves 800 million renminbi with an agreement with Mainland China to avoid double taxation

29 November 2019

Macau is expected to save at least 800 million renminbi (US$114 million) in tax with the signing of the 4th protocol on the agreement with Mainland China to avoid double taxation and prevent income tax evasion, said the Macau Monetary Authority.

First batch of rough diamonds subject to Kimberley Process enters Macau

29 November 2019

The first batch of rough diamonds subject to supervision and control by the Kimberley Process Certification Scheme (KPCS) arrived in Macau on Thursday, after customs clearance and verification of the respective certificate, the Economic Bureau (DSE) said.

Macau Development and Investment Fund to be subject to public consultation

27 November 2019

The government of Macau will carry out a public consultation in mid-2020 about the possible establishment of a company to manage the local version of a Sovereign Wealth Fund, said Chan Sau San, chairman of the Macau Monetary Authority

20th anniversary of the establishment of the MSAR has a website

26 November 2019

The Government of the Macau Special Administrative Region (MSAR) launched a website on Monday to commemorate the 20th anniversary of the establishment of the MSAR, so as to concentrate all information on the event in one place, the region's Information Bureau (GCS) said.

Macau had 29 banks at the end of the third quarter of 2019

25 November 2019

Macau had 29 banks at the end of the third quarter of 2019, more than at the end of the first quarter, according to the Statistics and Census Bureau, which added that its staff totalled 6,718 workers.

Hong Kong financial group prepares acquisition of Angolan-owned bank

25 November 2019

Banco Atlântico Europa (BAE), based in Portugal and owned by Angolan investors, is about to be sold to a Hong Kong financial group, in a deal similar to the one that led to the entry of China's Bison into Portuguese-speaking countries.

Macau welcomes over 33 million visitors from January to October

22 November 2019

Macau welcomed 33.41 million visitors from January to October 2019, up 15.3% from 2018, according to the Statistics and Census Bureau, adding that the average stay was 1.2 days.

Gambling accounted for more than half of Macau’s economic activity in 2018

21 November 2019

Lotteries, other gambling and gaming promotion in Macau accounted for more than half of the territory's economic activity in 2018, rising from 49.0% to 50.5% of the total, an increase of 1.5 percentage points, the region's Census and Statistics Bureau reported.

Visitors spend less in Macau from January to September

20 November 2019

Spending by people visiting Macau from January to September 2019, excluding gambling, totalled 47.83 billion patacas (US$5.9 billion), a drop of 6.7% year-on-year, according to the Statistics and Census Bureau.

Forum Macau organises colloquium on tropical timber investment and trade

19 November 2019

Forum Macau Secretary General Xu Yingzhen on Monday stated the importance of building a society and an increasingly green and sustainable future through the creation of a global green supply chain in trade and investment in forest products.

Macau’s GDP sees real contraction of 3.5% from January to September

15 November 2019

Macau's economy contracted by 3.5% in real terms from January to September, with the decline seen in the third quarter reaching 4.5%, according to the Statistics and Census Bureau.

Macau businessman joins Marriott group to open luxury hotel in Porto, Portugal

14 November 2019

The building of Portuguese newspaper Jornal de Notícias (JN), in the northern city of Porto, will be converted into a hotel to be managed by the Autograph Collection by Marriott and will be named Hotel Journal in order to honour the building's past and perpetuate its memory, said Macau businessman Kevin Ho King Lun.

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