Chinese New Year

Chinese New Year

Chinese New Year is the most important and colorful Chinese festival celebrated by the majority of the local population, where shops, offices, factories close for this traditional holiday. During ten days there are a huge number of events celebrating the New Year. The...

Retail sales value grows only marginally in 2014

The value of retail sales in Macau was MOP67.6 billion (US$8.46 billion) last year, 1 per cent more than the year before, Business Daily reports, citing Census and Statistics Service data. The newspaper says the growth was small because the campaign against corruption...

January visitors decrease 1.5 pct to 2.47 mln

Macau had 2.47 million visitors in January, 1.5 per cent fewer than a year earlier, official data show. The Statistics and Census Service says 55.9 per cent were day-trippers. The average visit lasted 0.9 day, 0.1 day less than a year earlier. The number of visitors...

Hotel room rates drop for Lunar New Year holidays

The average room rate in Macau’s three-star, four-star and five-star hotels was MOP2,019 (US$252.75) during the Lunar New Year holidays this year, 15.4 per cent less than in the equivalent period last year, the Macau Government Tourist Office says, citing data from...

Chui says govt curbs on housing market are enough

Chief Executive Fernando Chui Sai On has said changes in the measures his government has taken to curb housing prices in Macau are unwarranted. The chief executive was speaking to reporters on Friday, when the Hong Kong government announced further measures to dampen...

Deutsche Bank’s 2015 gaming revenue gloom deepens

Deutsche Bank now forecasts that annual gross gaming revenue in Macau’s casinos will shrink to US$34.6 billion (MOP276.39 billion) this year, 21.4 per cent less than last year. The bank previously forecast a contraction of 8.4 per cent. “We believe the ambiguity...

Law firm relieved to find Macau firm for tie-up

Employment Law Alliance chief executive Stephen Hirschfeld says it is difficult for newcomers to Macau such as his own firm to find a local law firm to link up with that has longstanding relationships with the city’s businesses and government, Business Daily reports....

Gaming industry braces for revenue plunge

February GGR was always expected to disappoint. But the freefall in gross gaming revenue was not anticipated to last so long or so deep. Deutsche Bank has thus revisited its original estimates for 2015. read...

No promises

Both SARs made statements on housing policy on Friday. Hong Kong announced further cooling measures. While Macau CE Chui Sai On adopted a non-committal approach. Macau Chief Executive Fernando Chui Sai On said he was not making any promise to change the existing...