Beijing’s currency scrutiny sends casino stocks down

Macau casino operators can’t catch a break.Just as gambling revenue in the city is starting to recover from a two-year slump, concern is building that the central government’s increased scrutiny on capital outflows will once again curtail spending in Macau’s casinos.Galaxy Entertainment Group and Sands China tumbled more than 3 percent in intraday trading on Hong Kong’s stock market yesterday after the central government’s currency regulator announced extra requirements for

January 4, 2017 | BY admin

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Scholar expects up to 10 pct rise in 2017 gaming receipts

Davis Fong Ka Chio, who heads the Institute for the Study of Commercial Gaming at the University of Macau (UM), said yesterday he expected Macau’s gaming revenues to rise by up to 10 percent this year.Fong made the remarks in an interview with The Macau Post Daily in his office on the UM campus in Hengqin.Casino revenues fell 3.3 percent to 223.2 billion patacas last year, easing from the 34.3 percent drop recorded in 2015.The final five months of last year recorded consecutive year-on-year

January 4, 2017 | BY admin

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Police receive 55 New Year noise complaints

The Public Security Police (PSP) received 55 noise complaints, including 21 about SKY 21, a rooftop restaurant bar at AIA Tower in Nam Van, from New Year’s Eve to New Year’s Day, local Chinese-language media reported yesterday.The police were quoted as saying that the 21 complaints about SKY 21 were received from 9 p.m. on New Year’s Eve to 3 a.m. on New Year’s Day.SKY 21 is located on the two top floors of the high-rise. The restaurant-bars’ top floor is partially open air.Tourists

January 3, 2017 | BY admin

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Maintain prosperity & stability: Liaison Office chief

Central People’s Government Liaison Office Director Wang Zhimin said in his New Year address on Sunday his office believed that the local government will plan and carry out its work in line with the central government’s overall national strategy and with the objective of maintaining the prosperity and stability of Macau, based on President Xi Jinping’s guidelines.Wang also said his office believed the local government will prioritise the city’s economic development and the improvement

January 3, 2017 | BY admin

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Chui vows Macau will follow Xi’s guidelines

Chief Executive Fernando Chui Sai On promised in his New Year address on Saturday that Macau will follow the guidelines laid out by President Xi Jinping and fine-tune Macau’s role as “a centre and a platform” with the central government’s Belt & Road Initiative.The local government’s “centre and platform” concept refers to Macau’s role as a world tourism and leisure centre and a platform for economic and trade co-operation between China and Portuguese-speaking countries.The

January 3, 2017 | BY admin

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Cost of illegally parked vehicles up over 1,200 pct

A statement released by the Transport Bureau (DSAT) on Saturday announced a 400 percent to 1,233 percent hike in the cost to remove illegally parked vehicles.The removal of heavy or special vehicles which are illegally parked now costs 6,000 patacas, which is 12 times higher than it used to be. The rate for removing cars has been increased from 300 patacas to 1,500 patacas, while that of scooters and motorbikes has been raised from 120 patacas to 750 patacas and from 50 patacas to 250 patacas

January 3, 2017 | BY admin

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Commentator urges database on underground pipes, cables

Government-appointed Central Districts Community Service Consultative Council member Ron Lam U Tou has urged the government to make sure that the various public utilities and government entities that have installed underground pipes and cables are able to provide accurate information on their actual location.Lam made the remarks in an interview with The Macau Post Daily last week in an office of the Macau Federation of Trade Unions near Praça de Ponte e Horta.Lam said that some residents were

January 3, 2017 | BY admin

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Liaison official doesn’t fully understand Macau: lawmaker

Lawmaker Ng Kuok Cheong said yesterday that Central People’s Government Liaison Office Deputy Director Yao Jian had expressed his views on the viability of importing non-local commercial drivers without fully understanding Macau’s job market.Yao said on Thursday that as long as the employment rights of local residents are protected, the city should be “open-minded” by allowing “more people” to compete in the job market, adding that the city’s sustainable development could only be

January 3, 2017 | BY admin

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New Year’s Eve fireworks scrapped: govt

The Macau Government Tourism Office (MGTO) released a statement yesterday announcing the cancellation of a firework display scheduled after the countdown on New Year’s Eve outside Macau Tower.According to the statement, the pyrotechnic material cannot be delivered to the city on time.The statement asked for residents’ “understanding”. This file photo shows the New Year’s firework display over the Governor Nobre de Carvalho Bridge in 2014. Photo: Tony WongPLEASE READ

December 30, 2016 | BY admin

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Liaison official calls for ‘open minds’ on jobs

Central People’s Government Liaison Office Deputy Director Yao Jian said yesterday that as long as the employment rights of local residents are protected, the city should be “open-minded” by allowing “more people” to compete in the job market, adding that the city’s sustainable development can only be achieved if there is competition.Yao made the remarks at the Bank of China Building in Nam Van, where he attended the co-operation agreement signing ceremony for the training of

December 30, 2016 | BY admin

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Man sexually assaults 4 women: police

The Public Security Police (PSP) announced yesterday the arrest of a 21-year-old local man on suspicion of having sexually assaulted four women. A PSP spokesperson briefed reporters about the case during a regular press conference.The spokesperson said two about 20-year-old women separately reported to the police that a man had hugged them from behind and grabbed their breasts.PLEASE READ THE FULL ARTICLE IN OUR PRINT EDITION.

December 30, 2016 | BY admin

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Online kindergarten registration to start Jan 5: govt

Parents may start applying simultaneously to up to six kindergartens for their children by using the online registration available on the Education and Youth Affairs Bureau’s (DSEJ) website between January 5 and 20, the bureau announced yesterday.Kong Chi Meng, who heads the bureau’s Pre-School and Primary School Division, made the remarks during a press conference at the bureau.The press conference was about the online registration process, as well as a subsidy scheme for local pupils who

December 30, 2016 | BY admin

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Govt to commission study on trade union law

The government will commission a third party to study the feasibility of trade union legislation in the city, Labour Affairs Bureau (DSAL) Director Wong Chi Hong said yesterday.Wong made the remarks after a regular meeting of the Standing Council on Social Concerted Action, which was held at the bureau in Areia Preta.The council, chaired by Secretary for Economy and Finance Lionel Leong Vai Tac, consists of five business sector representatives, five labour sector representatives and a number of

December 30, 2016 | BY admin

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Stub causes fire gutting 90 scooters, suspect nabbed: police

A local man has been arrested for causing a huge fire on Tuesday in a scooter parking area in Avenida Norte do Hipodromo which gutted 90 scooters after discarding a lit cigarette, Judiciary Police (PJ) Director Chao Wai Kuong said a special press conference last night.Chao briefed reporters about the case on the spot of the fire, where PJ officers also arranged for the suspect to show them in a crime re-enactment how he had discarded the still lit cigarette end which caused the blaze.The

December 29, 2016 | BY admin

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