Macau

Macau signs agreement in Beijing to strengthen its role in the Belt and Road initiative

7 December 2018

The agreement to support Macau's participation in the construction of the "Belt and Road" initiative was signed on Thursday in Beijing by Chief Executive Chui Sai On and the Director of the National Development and Reform Commission He Lifeng, the Chinese government spokesman said.

Fourth Macau-Taipa bridge will take four years to be designed and built

6 December 2018

The design and construction of the fourth Macau-Taipa sea bridge is expected to take about four years, according to the tender restricted by prior qualification issued by the Office for Infrastructure Development.

Macau’s economy to grow at real rate of 3.8% in 2018 – EIU

6 December 2018

Macau's economic growth forecast in the December report from the Economist Intelligence Unit (EIU) was revised down from the September report from 5.8% to 3.8% this year.

Delegation of Forum Macau visits trilateral project in Timor-Leste

5 December 2018

A Pacific-white shrimp mariculture project to be developed in Timor-Leste (East Timor) by Chinese company Yuan Long Ping High-Tech Agriculture Co. Ltd. has the capacity to produce 40 tonnes of shrimp per year, according to the Permanent Office of Forum Macau.

President of China starts two-day visit to Portugal on Tuesday

3 December 2018

Portugal is an important link between the Terrestrial Silk Road and the Maritime Silk Road and therefore a very important ally for China, Chinese President Xi Jinping wrote in a text published in the print edition of Portuguese newspaper Diário de Notícias.

Casinos earn US$3.119 billion in revenue in November

3 December 2018

The year-on-year change in gross revenue at Macau's casinos improved in November compared to October, rising 8.5% to 24.995 billion patacas (US$3.119 billion), according to official information.

Cabo Verde travel and tourism association considers opening office in Macau

3 December 2018

The Association of Travel and Tourism Agencies of Cabo Verde (AAVTCV) is considering opening a representative office in Macau, while also intending to move forward with a partnership with its local counterpart, the association said in a statement.

Macau economy expected to grow 4.9% in 2018/2019 – Economist

30 November 2018

Macau's economy is expected to post average growth of 4.9% in 2018/2019, by 5.8% this year and 3.9% in 2019, according to the latest report from the Economist Intelligence Unit.

Continental China supports Macau taking part in Belt and Road initiative

30 November 2018

The Government of the Macau Special Administrative Region (MSAR) and China's National Development and Reform Commission are due to sign an agreement in Beijing next week to support Macau's participation in the Belt and Road initiative, the government's spokesman said.

Angola to have mobile payment system in 2019

29 November 2018

The National Bank of Angola (BNA) intends to introduce payments through mobile telephony, and plans to put forward new legislation in 2019 to that effect, said BNA director Pedro de Castro e Silva in Luanda on Wednesday.

China’s investments in Mozambique should boost productive capacity – ambassador

28 November 2018

China's investments in Mozambique should be give priority to projects that promote productive capacity, Ambassador Maria Gustava said in an interview with English-language magazine Macao.

Authorisation request by Banco Sino-Atlântico yet to be analysed as it is not complete

28 November 2018

The authorisation process of Banco Sino-Atlântico, of Macau businessman David Chow, has yet to be analysed and decided upon due to the fact that it is incomplete, the Bank of Cabo Verde (BCV) said in a statement released on Tuesday.

Macau receives 28.9 million visitors from January to October

23 November 2018

Macau received 28.9 million vivitors in the period from January to October, an increase of 8.4% year-on-year, according to the region's Statistics and Census Bureau.

Macau’s gaming tax revenue in 2019 estimated at US$11.375 billion

22 November 2018

Gaming and gambling in Macau Is expected to provide tax revenue of 91 billion patacas (US$11.3 billion) next year, according to the forecast included in the draft budget law for 2019 presented on Wednesday in the Chinese autonomous region's Legislative Assembly.

Macau’s economy contracted in the third quarter with growth of 1.6%

22 November 2018

The fall in investment in construction, coupled with a contraction in services exports, meant that Macau's economy contracted in the third quarter of 2018 to grow by 1.6% in real terms, according to the Statistics and Census Bureau.

Air Macau adds three new Airbus aircraft to its fleet

22 November 2018

In the first half of 2019 Air Macau is scheduled to take delivery of three new A320neo Airbus aircraft that were ordered from BOC Aviation, the Bank of China group company said in a statement.

Weight of gaming in Macau economy increases to 49.1% in 2017

22 November 2018

The weight of gaming in Macau's gross value-added structure increased by 2.5 percentage points from 2016 to 2017, accounting for 49.1% of the total, according to the region's Statistics and Census Bureau.

Macau and Cabo Verde discuss traditional Chinese medicine in Praia

22 November 2018

The Cape Verdean government wants to draw up a strategic plan on traditional medicine in cooperation with China, the archipelago's Health Minister, Arlindo do Rosário, said in Praia on Tuesday.

Macau Government respects principle of keeping expenses within limits of revenues

19 November 2018

The Macau government scrupulously keeps to the "principle of keeping expenses within the limits of revenue," along with the principle of a balanced budget stipulated in the Basic Law, said the Chief Executive.

Income obtained in Portuguese-speaking countries by Macau companies is exempt from supplementary tax

16 November 2018

The income earned or generated by Macau companies in Portuguese-speaking countries will be exempt from payment of supplementary income tax in 2019, the Macau Chief Executive said on Thursday.

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