Section: Social & Politics

Golden Week Not Expected to Increase Number of Tourists to Macau

Three consecutive days of Mid-Autumn holidays did not bring any increase in the number of tourists to Macau, according to Wu Keng Kuong, president of board of directors of Travel Industry Council of Macau. Mr Wu said that the number of tourists had remained similar to that of the previous year, saying that the flow of

Macau Q1 2008 Gross Domestic Product Expands by 31.6%

In the first quarter of 2008, performance of the gaming sector continued to stay vibrant, with gross gaming revenue (excluding gratuities) soaring substantially by 61.8% in nominal terms compared with the same quarter of 2007, while total visitor spending (excluding gaming expenses) rose slightly by 4.3%; gross fixed capital formation dropped by 17.6% upon successive

Macau Government Meets Casino Operators

The Secretary for Economy and Finance, Mr Francis Tam Pak Yuen, met with the management of six casino concessionaires to exchange views on the development of the industry. Speaking to the press after the meeting, Mr Tam disclosed that the discussions were focused on the commission rate on VIP chips and the number of tables. He said

Crime in Macau on the Rise

The number of crimes recorded in the first quarter of this year saw a slight increase of 8.6% compared with the same quarter last year, with serious assaults down by 55.6% while robbery and theft up by 34%. Releasing the crime statistics for the first quarter of 2008 at a press conference today, the Secretary for

Macau May 1 Rally May Well Be Called Off

More than one rally which were originally planned to be staged on May 1 demanding measures to tackle illegal workers as well as soaring living costs could be called off after the Chief Executive announced the two-billion pataca subsidy for Macau residents on Tuesday, reports Macau Daily Times. According to lawmaker and chief member of the

Moody's Says Macau Economy Is Solid

Macau’s financial health is solid although there are some risks that make the territory vulnerable to external shocks, according to US ratings agency Moody's Investors Service. "Macau's solid fiscal position has produced considerable public sector surpluses over the past five years and because it does not have any public debt that needs to be repaid, its

Macau Waiting to Start Land Reclamation Projects

The Macau government is waiting for approval from the central government in Beijing to begin works on the reclamation land projects which are expected to total an area of around five square kilometers. The secretary for transport and public works, Lau Si Io, said the project plan is based on that of 2006, which the local

Macau Casino Employment Grows by 22.9%

At the end of the fourth quarter of 2007, there were 44,743 paid employees engaged in the Macau Gaming Industry, up by 22.9% year-on-year. Analyzed by occupation, 30,486 were engaging in positions that are directly related to betting services, such as hard and soft count clerks, cage cashiers, pit bosses, casino floorpersons, dealers, betting service

To Combat Inflation Macau Government Will Spend US$101 million

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. The government measures, coming into force in April, include subsidies for electricity

Hong Kong-Zhuhai-Macau Bridge May Take OVer 35 Years to Break Even

As reported by Blog Macau Info, the Hong Kong-Zhuhai-Macau Bridge project may take 36-and-a-half years to break even, admitted the Governor of Guangdong Province. Huang Huahua said in Beijing as a deputy to the National People’s Congress (NPC) that is currently being convened that the construction cost of the bridge may reach US$5.62 billion, while the