Ching Ming Festival

Ching Ming Festival is one of the 24 segments in Chinese calendar.   It normally falls on the 4th or 5th of April because it’s depended on the Cold Food Day (105 days after previous year’s winter solstice).  In the old days, Ching Ming was celebrated 3...

Recession persists as Q1 GDP shrinks 24.5 pct

The economy was 24.5 per cent smaller in the first quarter of this year than a year before, contracting for the third quarter in a row, official data show. The Statistics and Census Service attributes the contraction mainly to “a substantial decline in exports of...

Macau enterprises invest RMB200 bln in Hengqin

Macau enterprises have registered investments worth over RMB200 billion (about MOP264.3 billion or US$33 billion)in the portion of the Guangdong Free Trade Zone just over the border on Hengqin Island, the Macao Daily News reports. The Chinese-language newspaper quotes...

Kowloon Devt sets 2016 sales target of HK$5 bln

Kowloon Development Co Ltd is aiming to sell real estate in Macau worth over HK$5 billion (about US$645 million) next year, chairman Or Wai-sheun has said. Mr Or told a press conference that his company had set this target on the assumption that sales off the plan of...

Test looms for theory that supply creates demand

The first of the new casino-resorts to open in Cotai will prove or disprove the build-it-and-they-will-come theory, Deutsche Bank says. “The market believes in ‘supply creates demand’ and consensus still forecasts a Macau recovery in 2016 with gaming revenues up 10...

Cost of homes rises 12.6 pct in April as more sold

The average price of housing in Macau was MOP103,128 (about US$12,914) per square metre in last month, 12.6 percent more than the month before, the Financial Services Bureau says. The bureau’s figures show 664 homes were sold last month, about two-thirds more than the...

CTM exec shrugs off challenge mounted by MTEL

An executive of Companhia de Telecomunicações de Macau SARL has said competition in the city’s fixed-line telecommunications market from MTEL Telecommunication Co Ltd has made little difference to her company. MTEL entered the market in December. “We have not seen any...