Entries Categorized as 'Economy'
March 30, 2008
The world economy remained strong in the first three quarters of 2007, but the momentum tended to slowdown in the fourth quarter; however, the economy of Macau was not much affected due to the support from Mainland China. Driven by the rapid development of the gaming and tourism sector, investment surged substantially and local consumption remained robust; as a result, the economic growth for 2007 was far higher than 2006.
GDP of Macao for 2007 was estimated at US$19.20 billion, up by 27.3% in real terms and the per-capita GDP amounted to US$ 36,357. GDP for the fourth quarter of 2007 recorded an increase of 22.1% in real terms; meanwhile, the rates for the first and second quarters were revised downward from 25.7% and 31.6% to 25.2% and 30.8% respectively, but that for the third quarter was revised upward from 30.9% to 32.2%; for 2006, the rate of growth maintained at 17.0%.
Please tell me more! »
Posted in Cotai Strip, Economy, Macau Business, Macau Casino, Macau General, Macau Government, Macau Investment, Macau Tourism 
No Comments »
March 13, 2008
The Macau government announced that it is making available US$ 101 million for a string of financial support measures to alleviate the impact of inflation among the territory’s most needy citizens.
Inflation in Macau hit 8.3 percent in January, the highest level recorded since 1999.
Please tell me more! »
Posted in Economy, Employment, Macau General, Macau Government, Social and Politics No Comments »
March 12, 2008
Macau’s gaming revenue for this year is expected to see a double-digit increase, the total of which will reach US$12.5 billion, said Lau Pun Lap, member of the Legislative Assembly.
He estimated that this year’s gaming revenue growth will be lower than last year, but as industry development keeps its momentum, a double-digit increase can be sustained this year. Please tell me more! »
Posted in Cotai Strip, Economy, Economy & Business, Macau Business, Macau Casino, Macau General, Macau Government No Comments »
March 9, 2008
The activities of Macau’s gangsters, or triads are being kept in check by a plentiful market and the watchful eye of the Mainland government, according to a local university professor, reports Macau Daily Times.
Underworld figures that operate in casinos are being careful not to step out of line in fear of retribution from the Mainland government, Eilo Yu, assistant professor from the University of Macau’s (UM) department of government and public administration said yesterday.
Please tell me more! »
Posted in China, Economy, Macau Casino, Macau Gaming, Macau General, Macau Government, Macau News, Social and Politics No Comments »
February 15, 2008
The eventual committee of the land concession system yesterday moved to discuss policy orientation and specific executive measures after the government presentation was completed.
According to president of the Eventual Committee for the Analysis of Public Regimes and Land Concessions, Kou Hoi In, the government had finished introducing its proposal during the last meeting, and the committee started to identify any specific problems yesterday before carrying out in-depth discussion and analysis on each of the issues.
Please tell me more! »
Posted in Development, Economy, Macau General, Macau Government, Macau Property, Social and Politics No Comments »
January 10, 2008
Directors of government departments will soon be making as much as 70 to 75 thousand patacas (US$9 - 9,500) each month, an increase of 27 to 36 per cent on current wages.
Chief Executive Edmund Ho Hau Wah mentioned the salary rise during his policy address at the Legislative Assembly last year.
Please tell me more! »
Posted in Economy, Economy & Business, Macau General, Social and Politics No Comments »
January 4, 2008
We think this may have a lot to do with the heavy billions of USD casino investments in Macau!
Despite rising inflation and a weakening US dollar, the value of the pataca(8 Patacas = 1USD) will continue to remain indirectly tied to the once dominant American currency, the chairman of the Monetary Authority of Macao said yesterday.
Since 2004, prices in Macau have continued to rise. Last year inflation ran at 5.2 percent, and in November last year, the most recent figures available, it hit 5.36 percent.
Please tell me more! »
Posted in Economy, Economy & Business, Macau Business, Macau General No Comments »
December 8, 2007
Owners of domestic housing units that are rented out are likely to get tax breaks of up to 3,500 patacas (US$437.50) next year, alongside with owners of owner-occupied flats.
This was disclosed today by the Secretary for Economy and Finance, Mr Francis Tam Pak Yuen, after he had discussed the Government budget for the fiscal year 2008 with members of the First Standing Committee of the Legislative Assembly.
Please tell me more! »
Posted in Economy, Macau General, Macau Property, Macau Real Estate, Social and Politics No Comments »
