Economy

RMB clearing centre

Academics from the city’s financial institutions agree. The implications of Macau becoming a centre for RMB clearing are intoxicating.

The city’s academics agree that establishing a renminbi (RMB) clearing centre in the MSAR would bring many benefits to the city’s financial industry.

Triple win situation

The Secretary for Economy and Finance reckons the city’s role as a Sino-Luso platform will benefit Macau’s economy by diversifying as well as sustaining the city’s long-term development

The Secretary for Economy and Finance, Lionel Leong Vai Tac, believes that the 19 MSAR-favouring measures as announced by Premier Li Keqiang would aid the city to participate in the strategic developm

Money supply continues to expand in August

The banking sector saw a month-on-month drop in the overall loan-to-deposit ratio during the month.

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

IMF Upgrades Economic Prospects

A 4.7 pct contraction. So says the International Monetary Fund regarding the MSAR economy. More positive than the 7.2 pct drop it forecast in April for the year.

The International Monetary Fund has forecast that Macau’s Gross Domestic Product will contract by 4.7 per cent year-on-year for 2016 but rebound to 0.2 per cent growth in 2017.

City’s fiscal surplus plunges 38.4 pct as at end-August

The total revenue of the city declined 13 pct y-o-y whilst total expenditure increased nearly 4 pct.

The city’s fiscal surplus plunged 38.4 per cent year-on-year to MOP17.9 billion (US$2.2 billion) between January and August due to falling government revenues for the period, the latest update on the

Academics: MSAR-China-Luso financial co-operation important

Academics perceive that the co-operation of the city with Shanghai and Portuguese-speaking countries would help boost the development of the local financial markets.

The Monetary Authority of Macao (AMCM) and the Shanghai Financial Services Office (SFSO) jointly held a seminar on financial co-operation with Portuguese –speaking countries in Lisbon, Portugal on Tue

Inflation Hits 6-year Low

Inflation hit a new low of 1.65 pct y-o-y in August. The lowest since January 2010, DSEC data reveals.

Inflation hit a new low of 1.65 per cent year-on-year in the month of August – the lowest since January 2010, according to the latest data from the Statistics and Census Service (DSEC).

Fake banknotes found in casinos

PJ warns the public to be aware of counterfeit money.

The Judiciary Police (PJ) received reports from six local casinos last week warning that they had detected 20 counterfeit HK$1,000 (MOP1,030/ US$129) banknotes on their premises, according to a report

MSAR signs tax agreement with Ireland

The Special Administrative Region yesterday signed a Tax Information Exchange Agreement (TIEA) with Ireland, according to an announcement by the Financial Services Bureau.

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