LVS boss Adelson bewails 'unprecedented' COVID-19 impact

Las Vegas Sands Chairman and CEO Sheldon G. Adelson said in a statement released today that "the impact of the COVID-19 pandemic on our business has been unprecedented, and I have never seen anything like it in my over 70 years of business."The 86-year-old US gaming mogul made the remark in a Sands China Ltd. statement to the Hong Kong Stock Exchange. New York-listed Las Vegas Sands Corp. (LVS) is the controlling shareholder of Hong Kong-listed Sands China. According to the statement,

April 23, 2020 | BY admin

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Macau needs Grade A office buildings: Ho

Chief Executive Ho Iat Seng says that Macau will need the development of Grade A office buildings in order to be able to attract more non-local companies to set up their headquarters here as there is a lack of high-quality commercial buildings in the city.Grade A buildings aim to provide “best in class” office premises, according to property agencies in cities such as Hong Kong and Singapore.Ho made the remarks when answering a question from indirectly-elected lawmaker-cum-urban planner

April 23, 2020 | BY admin

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Govt prepares local version of mainland’s health code system

Addressing yesterday’s daily press conference about Macau’s novel coronavirus (COVID-19) situation, the Health Bureau’s (SSM) Control of Communicable Diseases and Surveillance of Diseases Department Coordinator Leong Iek Hou said the government “provisionally” plans that the still being developed local version of the mainland’s health code system – which would make it possible for local residents and non-resident workers to be allowed to commute between Macau and Zhuhai again –

April 23, 2020 | BY admin

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A failed(?) ‘movement’

Commentary by Swallow Xu*Good startLife is a theater. I never knew that I could be part of a failed cultural movement in Macau.In early March amid the COVID-19 outbreak, an artist friend invited me to join a WeChat group, the Concerned Group for the Recovery of Macau’s Cultural and Creative Industries (CCIs), where 100-plus struggling jobless cultural and creative folks gathered, after a string of major arts events had been cancelled, namely the Macau Arts Festival and the Tap Seac Art Fair,

April 23, 2020 | BY admin

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Snapshots of daily life as city fights COVID-19

People wait for freshly baked sponge cake at a bakery in Avenida de Horta e Costa. Pedestrians wearing facemasks look at steam coming out of a vent in a building in Taipa’s Flower City area.Children wearing facemasks enjoy riding bicycles in Praça do Tap Seac.Many shops in the city centre popular with tourists are still closed.Photos taken earlier this week by Camy Tam and Monica Leong 

April 23, 2020 | BY admin

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CEM cuts electricity tariff

Power utility CEM said in a statement this week that due to the decline in the average electricity purchasing cost, the company is reducing its Tariff Clause Adjustment (TCA) by 2 avos (cents) in the second quarter.According to Tuesday’s statement, the TCA in the second quarter for CEM’s Tariff Group A, B, and C customers will be at 31 avos per kWh, in accordance with the calculation method prescribed by the government.“This indicates a decrease of 2 avos compared to the previous

April 23, 2020 | BY admin

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Earthquake rattles Macau, no injuries, no damage reported

A 2.2 magnitude earthquake rattled Macau yesterday morning, the Meteorological and Geophysical Bureau (DSMG) said in a statement.There were no reports of any injuries or damage caused by the temblor.Several readers told The Macau Post Daily that they “felt” the quake but initially thought that it was due to excavation or construction work in their neighbourhood.According to the statement, the quake located about 21 kilometres south-west of Macau occurred at 11:35 a.m.According to online

April 23, 2020 | BY admin

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Local man falls victim to credit-for-sex scam – again

A local man reported to the Judiciary Police (PJ) on Saturday that he was a victim of a credit-for-sex scam as he had been threatened by a person who claimed to be a woman and identified herself to him as “Ah-Kam” to buy her a gift card, PJ spokeswoman Lei Hon Nei said during a regular press conference on Tuesday.According to Lei, the man is about 30 years old and told the police that he’s unemployed.Lei said the victim met “Ah-Kam” through an online dating app last Wednesday and

April 23, 2020 | BY admin

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7 cheated out of 9 million patacas in department store cash voucher scam

A local man has been arrested, suspected of cheating at least seven local residents out of over 9 million patacas by reselling a local department store’s cash vouchers that have couldn’t provide last year, Judiciary Police (PJ) spokeswoman Lei Hon Nei said during a special conference yesterday.The suspect, who was arrested on Tuesday, is a 34-year-old local man surnamed Un, who told police that he’s a businessman.According to Lei, a cosmetics store owner reported to the police on December

April 23, 2020 | BY admin

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Salesiano teachers & pupils create bookplates

An event entitled “Instituto Salesiano Middle School Visual Arts Education – Modern Printmaking Bookplate Exhibition” showcases a raft of printmaking bookplates created by Salesiano Middle School pupils and teachers, at the Youth Art Exhibition and Performance Hall.According to the Education and Youth Affairs Bureau (DSEJ) website, the school’s visual arts class pupils made use of their artistic skills learnt in the classroom to express their thoughts and showcase their process of

April 23, 2020 | BY admin

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Inflation rate hits 2.47 pct in March

Macau's composite consumer price index (CPI) rose 2.47 percent year-on-year last month, the Statistics and Census Bureau (DSEC) said in a statement today. The bureau attributed the increase to higher prices of pork and liquefied petroleum gas (LPG), the higher cost of eating out and rising residential rents. The sub-index of food and non-alcoholic beverages rose 5.43 percent, while the one of clothing and footwear fell 4.43 percent.Macau's economy has been severely affected by the

April 22, 2020 | BY admin

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Earthquake rattles Macau, no injuries, no damage reported

A 2.2 magnitude earthquake rattled Macau this morning, the Meteorological and Geophysical Bureau (DSMG) said in a statement. There were no immediate reports of any injuries or damage caused by the temblor.Several readers told The Macau Post Daily that they "felt" the quake but initially thought that it was due to excavation or construction works in their neigbourhood. According to the statement, the quake located about 21 kilometres south-west of Macau occurred at 11:35

April 22, 2020 | BY admin

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Govt plans LRT ‘East’ section to be built underground: Ho

Chief Executive Ho Iat Seng said yesterday the government now plans that the “East” section of the Light Rail Transit (LRT) – a sea-crossing LRT section connecting the peninsula’s Barrier Gate border checkpoint to the Taipa Ferry Terminal and the adjacent airport via the land reclamation areas known as Zone A and Zone E1 – to be constructed underground.The chief executive also pledged that the government will launch a public consultation this year on the LRT “East” section

April 22, 2020 | BY admin

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Fitch keeps Macau’s long-term credit ratings

Fitch Ratings, the international ratings agency, has reaffirmed Macau’s credit ratings at “AA”, the Macau Monetary Authority (AMCM) said in a statement yesterday.  The New York-based agency reaffirmed Macau’s long-term foreign and local currency issuer default “AA” ratings, due to its “strong fiscal and external positions” as well as the local government’s “stringent fiscal prudence”. Default risk expectations are therefore “very low”, it said.  Fitch pointed

April 22, 2020 | BY admin

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