Archive for July, 2006

Macao sees stable jobless rate

Macao saw a 3.8-percent unemployment rate in the statistic period of April to June, flat over the previous term of March to May, according to official statistics issued Monday. The figures from the Statistics and Census Service showed that the number of jobless residents seeking their first job was around1,000, or 9.6 percent of the unemployed

Interview about Steve Wynn and Jack Binion

The Las Vegas casino business threw a couple of curveballs last week. The biggest shocker was Steve Wynn's announcement that he had hired Jack Binion to run Wynn Resorts' international operations. Wynn said hiring his longtime friend as chairman of Wynn International is a coup for the company. Binion is widely considered to be the

Unions coming to Macau

The Union Network International is launching assistance to build unions in Macau - the former Portuguese colony that, like Hong Kong, is a Special Administrative Region of China under the post-colonial "one country, two systems" arrangement. Training programmes - including English language training - are being prepared, a number of organising projects are under consideration and direct

Macau 2007 | Official Public Holidays

1 January - New Year’sDay 18, 19, 20 February - Lunar New Year 5 April - Ching Meng Festival 6 April - Good Friday 7 April - The day before Easter 1 May - May Day 24 May - Birthday of Buddha 19 June - Tuen Ng Festival 26 September - Mid-Autumn Fesitval 1 October - National Day 2 October - The day after National Day 19

Wynn Resorts Appoints Jack Binion As Chairman

Wynn Resorts, Limited said that Jack Binion has been appointed Chairman of Wynn International, acting as the senior executive for its Asian operations and development. The company said that he would lend his direction and maturity to Wynn Macau, opening in just 40 days. Jack's guidance would greatly enhance company's ability to deal with the challenges that

Wynn Optimistic About Macau Casino

Steve Wynn has started dress rehearsals for his $1.2 billion Wynn Macau, the smallest hotel-casino ever built by the Las Vegas developer. Opening expected September 6, 2006. While the 600-room resort is less than a quarter the size of Wynn Las Vegas, the year-old, $2.7 billion megaresort at the north end of the Strip, there has never

Stanley Ho surprises Portuguese market by cutting stake in power company

Macau businessman Stanley Ho surprised the Portuguese equities market at the end of last week by reducing his stake in power company EDP – Energias de Portugal by half, despite previously announcing he intended to boost his position. On the day following the presentation of EDP’s strategic plan for the next few years, which took place

Stanley Ho's Seng Heng Bank partners with Portuguese bank Group

Portuguese bank group Caixa Geral de Depósitos plans to take part in the financial platform due to be set up in Macau by the Seng Heng Bank, owned by businessman Stanley Ho, Portuguese financial daily Jornal de Negócios reported. The partnership between the two banks was confirmed by a Caixa Geral spokesperson, who added that the

Property restrictions may have little impact

RESTRICTIONS on overseas property investments issued on Monday send a warning signal to individual investors from Hong Kong, Macau and Taiwan even though detailed rules were not unveiled, analysts said. Under the new rules issued on Monday, foreigners won't be allowed to buy homes or apartments in China's mainland until they've been here at least one

Thailand hopes to position Thai fruits into Macau

Thai Deputy Prime Minister and Commerce Minister Somkid Jatusripitak on Thursday affirmed that he would lead a Thai delegation to negotiate for the opening of fruit markets in Hong Kong, Macao and Guangzhou of China late this month. He said his delegation would visit the two special administrative zones and the major city of China during