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...

Govt secretary denies cap set on mainland tourists

Secretary of Social Affairs and Culture Alexis Tam Chon Weng has denied that the Macau and central governments have set a limit on the number of mainlanders that can visit the city. But Mr Tam told reporters that the authorities on each side of the border would...

Economy secretary acknowledges recession looming

Secretary of the Economy and Finance Lionel Leong Vai Tac has acknowledged that the gaming slump means Macau’s economy probably contracted in the fourth quarter of last year and may contract again in the first quarter of this year. This would mean three consecutive...

Banking assets grow 19 pct to MOP117 bln in 2014

The combined assets of Macau’s banks expanded by 19 per cent last year to MOP117 billion (US$147 billion), Macau Association of Banks chairman Ye Yixin has said. Mr Ye told a Lunar New Year holiday gathering that the combined deposits held by the banks had increased...

Consultants put Macau among best places-as-brands

Bloom Consulting has put Macau in its list of the 10 best places in the world when considered as if they were brands. The latest list drawn up by the Spanish branding consultants includes Macau in eighth place among 180 places considered. Among places in Asia, only...

January consumer price inflation slows to 4.7 pct

The annual rate of consumer price inflation slowed to 4.7 per cent in January from 5.5 percent in December, official data show. The Census and Statistics Service attributed January’s lower rate to slower increases in the costs of food and housing, which make up 60 per...

One-fifth of smaller estate agencies close in 2014

Nearly 20 per cent of Macau’s smaller estate agencies went out of business last year, Macao Daily reports. The Chinese-language newspaper quotes Macau Real Estate Development Chamber of Commerce president Lok Wai Tak as saying other smaller estate agencies have been...

Controlled visitation gathering momentum

Macau is different to Hong Kong. Alexis Tam, the Secretary for Social Affairs and Culture went to pains to make the distinction. This, in order to clarify that the decision to cap Mainland visitation is still in the embryonic stages. read...

Inflation at 5-year low

The Consumer Price Index went up 7.4 per cent last month to the. The smallest increase since 2010. Rent and food are getting more expensive but at a slower pace. While transportation and culture actually got cheaper Inflation is slowing fast in Macau, with major...

Banks booming

Macau's banks registered double-digit growth in profits for 2014. Thanks largely to cross-border finance business. Assets reached MOP1170 billion (US$147 billion) in 2014. Representing a 19pct increase on 2013 read...