Economy

Total capital of new companies plummets in Q3

The total value of capital registered by new companies plunged by 67 per cent year-on-year in the third quarter of 2016, while the number of newly incorporated companies also declined.

The number of newly incorporated companies in the city, as well as registered capital, posted substantial year-on-year drops in the third quarter of 2016, according to the latest data released by the

Money supply increases in September

Meanwhile, total deposits with local banks went up slightly

Macau’s money supply continued to increase in September, reveals the latest data released yesterday by the Monetary Authority of Macao (AMCM).

Safe landing

Secretary for Economy and Finance Lionel Leong Vai Tac perceives that the city will be able to accomplish the annual target of MOP200 billion in gaming revenue, maintaining a similar target for 2017

Secretary for Economy and Finance Lionel Leong Vai Tac said the government is optimistic about reaching the goal of generating MOP200 billion (US$25 billion) in gaming revenue for the whole of 2016.

Local unemployment rate stays at 1.9 pct

The local unemployment rate for July to September remained unchanged from the previous quarter

The MSAR’s unemployment rate hovered at 1.9 per cent for July to September, remaining unchanged for the past 16 consecutive months, the latest data from the Statistics and Census Service (DSEC) reveal

Monthly Social Security Fund contribution to double

Ratio of increased monthly contribution remains the same for employers and workers, says FSS

The monthly contribution to the city’s Social Security Fund (FSS) paid by employers and employees will be doubled to MOP90 (US$11.26) from the current MOP45, starting from January of next year.

MSAR, Jiangsu to establish co-operation park in Changzhou

The two governments will soon start planning for the park by recruiting a third-party consultant firm

The MSAR Government is to build a co-operation park with Jiangsu Province, for which a memorandum of understanding (MOU was signed last Friday, and which Secretary for Economy and Finance Lionel Leong

City’s forex reserves expand in September

The city’s foreign exchange reserves totalled MOP155 billion (US$19.4 billion) as at the end of September, a year-on-year increase of 6.7 per cent compared to MOP143.3 billion one year ago, a prelimin

Budget Framework Law Inching Ahead

Proposed amendments to the city’s budget framework law have initially been nodded through by the Legislative Assembly.

With a final vote of 23 in favour, with two against and one abstaining, the bill amending the current budget framework law was passed in principle and now moves on to be debated article by article.

Show me the money

The city’s fiscal surplus dropped 33.1 per cent year-on-year in the first nine months of the year, while total public expenses went up 2.9 per cent

The city’s fiscal surplus between January and September fell by 33.1 per cent year-on-year, down to MOP21.4 billion (US$2.7 billion), while the gaming sector remains the MSAR’s main source of revenue,

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